Malaysia Airlines (MAS) today said it was selling its stake in a service provider to the travel industry in the region, as part of its restructuring.

The sale of its indirect 8.84-percent share in Abacus International Pte Ltd was part of a wider divestment of non-core assets, aiming to turn the company around from several years of losses, it said.

Another 10 airlines who also hold shares in Abacus would be joining MAS in selling their combined stake of 65 percent to equity partner Sabre, who already holds the remaining 35 percent.

“Sabre, with its deep industry expertise, leading technology and customer focus, is ideally placed to invest the necessary resources and innovation to ensure Abacus’ future success,” MAS said.

MAS said it has entered into a new distribution agreement with Abacus to ensure continuity of the company's business. Abacus provides travel agencies with products and services including online ticket sales, booking management and customer service systems.

- dpa