Shares in Malaysian Airline System fell over 9% today after the airline confirmed a 3.1bn ringgit ($1.02bn) rights issue. Earnings per share will most likely suffer an 80% dilution if the right issue is fully accepted and that has caused the sell off today. Meanwhile ironically Kingfisher Airlines shares, yes they do still exist, today were up nearly 5% to Rs 7.91 after the company sought regulatory approvals to re-launch operations earlier this week using UB funds. This rise came even though the company owes an estimated Rs 13,582 crore to banks, its staff, airport operators and oil companies. But

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