Malaysia's state investment arm, Khazanah Nasional, and Tune Air, the parent of budget carrier AirAsia , will hold a media briefing at 15:30 p.m. (07:30 a.m. GMT) on Tuesday, both firms said in a statement.

Shares of AirAsia and Malaysia's national carrier Malaysian Airline System have been suspended from trade since Monday.

A source told Reuters on Monday the carriers are planning a share swap that would give AirAsia's parent a 20 percent stake in Malaysia's national airline.

Under the deal, Khazanah Nasional, which currently owns close to 70 percent of MAS, would take a 10 percent stake in AirAsia, said the source who asked not to be identified because the deal has not been announced.