The Sarawak and Sabah state governments aim to close the deal on their majority stake in MASwings before the end of this year.
It was also suggested that the two state governments could hold between 60% and 70% equity in MASwings although no concrete statement has been released.
However, it was confirmed that both Sarawak and Sabah state governments will have a substantial stake in MASWings and that the management (of MASwings) will be under both states.
The Star revealed in their news report that Sarawak and Sabah state governments are each aiming at 30% equity, leaving the remaining 40% to Federal Government.
Talk of MASwings’ becoming a Sarawak and Sabah state governments majority owned airline was prompted by the sudden downsizing of Firefly – another of MAS’s subsidiaries – that abruptly cancelled its services from the two Malaysian states on Borneo on the eve of Malaysia Day last year.