Malaysia Airline System (MAS) reputation has been tarnished owing to two major tragedies. Recently, Khazanah Nasional, a Malaysian sovereign wealth fund, has proposed to takeover of the troubled airline.

Khazanah, the investment holding arm of the Government of Malaysia aimed to hold and manage the commercial assets of the government and to undertake strategic investments, owns 69.4% of the airline. It has offered 0.27 ringgit per share for the remaining stock.

On Friday, authorities concerned announced that trading in shares in the airline has been stopped. In past few years, Khazanah has spent more than $1bn into the airline. In fact, it has indicated about a major restructuring.

The state fund said that all the aspects of restructuring will be considered including business model, human capital and finances. "Nothing less will be required in order to revive our national airline to be profitable as a commercial entity and to serve its function as a critical national development entity", said the state fund.

On March 8, the airline's flight MH370 bound for Kuala Lumpur to Beijing disappeared. Search was carried out number of times to find the missing plane, but nothing was found. Till date, massive search operation is being carried out and a lot of money is being spent on it.

The flight was majorly carrying passengers from China. The incident greatly affected the image of the airline and the biggest drop as expected came from China as a 60% drop in sales was witnessed.

In July, the carrier suffered another setback as the plane crashed in eastern Ukraine. In the incident, all 298 people on board flight MH17 died. Both the incidents brought a significant decline in the market value of the airline.

In May, the airline reported its net loss has increased by 59% to 443m ringgit in January to March period.