Missing MH370 Hampers Malaysia Airlines’ 1Q Results

Malaysia Airlines has announced a record RM443m ($137.1m) loss for 1Q 2014, citing the disappearance of flight MH370 and a tough business environment. The “dramatic impact” of the missing 777 has been a deciding factor in its worst quarter for more than two years, the airline has said. A steep drop in passenger traffic since the aircraft was reported missing is likely to prevent Malaysia Airlines from returning to profit by the end of the year. In a statement, the airline said its 1Q net loss increased by nearly two-thirds to RM443.4m from RM278.8m ($862,623,920) a year earlier. 

TAGS: Asia
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