Japan Airlines Co. Ltd. held high-level talks with Malaysian Airlines exploring the possibility of buying a stake in the Southeast Asian nation's flag carrier, Bloomberg News said, citing a report by The Edge.
The discussions come on the back of close ties between Japan and Malaysia, two unidentified people familiar with the matter reportedly told The Edge.
In June, Japan Airlines President Yuji Akasaka refused to say whether an investment in the Malaysian carrier was being considered but noted that further discussions were possible, according to the report.
Khazanah Nasional Bhd., Malaysia's sovereign wealth fund and Malaysian Airlines' only shareholder, hired Morgan Stanley in July to explore strategic options for the country's struggling flag carrier, including a potential stake sale.
Bloomberg could not reach Japan Airlines and Khazanah for comments outside working hours.
