KUALA LUMPUR, March 10: Malaysia Airlines plans to sell off property, including a piece of freehold land and a building which it currently operates from, to the government's pension fund.

The sale, worth 145 million ringgit ($41.4 million), to the Employees Provident Fund (EPF) is part of the airline's restructuring plan, the carrier said late Friday in a statement to Malaysia's bourse.

Malaysia Airlines said the sale of the land and the building known as MAS Academy "forms part of our strategic asset rationalisation exercise by the disposal of non-core assets as an initiative in the business turnaround plan of the company."

The airline will lease back the building from the EPF for five years, with an option to renew the lease period for a further five years.—AFP