Reuters breaks news on Malaysian airlines` restructuring

Reuters broke the news that Malaysian Airlines and rival AirAsia are planning a share swap in a restructuring that is expected to reshape the landscape of the Malaysian aviation industry. While local papers had reported vague details of a tie-up, Reuters was first with news that the airlines would undertake a share exchange that would give AirAsias parent a 20 percent stake in Malaysias national airline while allowing state investment arm Khazanah Nasional to take a 10 percent stake in AirAsia. Bloomberg was nearly 90 minutes behind Reuters with news of this share swap while Dow Jones did not match the headlines. The companies announced the deal the following day. Resuming trade after a two-day suspension, MAS shares spiked as much as 18 percent, while Air Asia shares fell 7 percent.