Air France-KLM submits bid to buy nearly half of Malaysia Airlines: report

Air France-KLM made an offer to buy a 49 percent share in the struggling Malaysia Airlines, sources told Reuters and NU.nl. The Malaysian government is looking for a strategic partner to keep the national airline up and running.

Other airlines also showed interest in buying shares. Japan Airlines wants a 25 percent stake in the company, and local competitors AirAsia Group and Malindo Air also made offers, according to the newspaper. 

Malaysia Airlines is struggling to keep its head above water, partly due to its involvement in two tragedies in 2014 - the downing of flight MH17 above eastern Ukraine and the disappearance of flight MH370. The airline is also facing fierce competition in Southeast Asia from budget airlines like AirAsia, TigerAir, and Lion Air. 

Tags: