KUALA LUMPUR: Malaysia Airlines will sell its indirect 8.84% stake in Abacus International Pte Ltd — a global distribution system (GDS) for travel in Asia Pacific — as it streamlines its businesses and divests non-core assets.
The national carrier said on Monday the sale was expected to be completed by later this year.
“In recognising the importance of Abacus as a distribution partner of airlines to the travel agencies that it serves, Malaysia Airlines has entered into a new distribution agreement with Abacus to ensure continuity of this GDS support,” it said.
Aside from Malaysia Airlines, the other 10 major airlines in Asia would be selling their combined 65% stake in Abacus, to Sabre Corporation. Sabre, the existing equity and technology partner, owns 35% of Abacus.
Malaysia Airlines said these airlines were founding shareholders of Abacus which has grown to become the leading GDS provider in Asia Pacific since starting in 1998.
Abacus has more than 100,000 travel agents across the Asia-Pacific region’s 59 markets. It has global and local relationships with airlines and hotels, including the leading portfolio of low-cost content and Chinese airline content.
The transaction will result in Sabre emerging as the sole shareholder of the Abacus business.
