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Malaysia Airlines has doubled its losses since the disappearance of the MH370 flight.

In big trouble since 2011, Malaysia Airlines saw its losses nearly doubled in the second quarter after the disappearance of flight MH370 which resulted in a drop in bookings and precipitated the company on the brink. The Malaysian company reported Thursday a net loss of 305 million ringgits (EUR 73 million) over the period April-June, following the disappearance March 8 Boeing liaising Kuala Lumpur – Beijing with 239 passengers and crew members. This is the sixth consecutive quarter in the red for the company which had already suffered a net loss of 175 million ringgits a year earlier, in the second quarter of 2013. The impact of the disaster of the MH370 and the increased competition resulted in a decrease of 6.7% of bookings, said Malaysia in its interim report, preventing that the results of the last six months of the fiscal year would be even worse. The company of this small country of Southeast Asia, who before this year had a good reputation for safety, finds himself on the precipice from the unexplained disappearance of the MH370 flight and the crash of another device with 298 people onboard killed July 17 (flight MH17) over the Ukraine. The full financial impact of the double tragedy of the MH370 and MH17 should be felt during the second half of this year, with an average fall of 33% of weekly bookings observed immediately after the (second) incident, and the cancellation of many flights, said Malaysia Airlines. Malaysia Airlines nevertheless suffered before these disasters of increased regional competition, in particular the growth of low-cost airlines. In June, its majority shareholder, the public investment fund Khazanah Nasional, had indicated that it was considering various options out of the rut. -A few months cash –A reason for 1 to 2 million daily losses, Malaysia Airlines lost 1.3 billion dollars (more than 900 million euros) in three years and its cash flow would leave him only a few months of respite. Khazanah Nasional announced early August that it would buy the remaining 30% held by minority shareholders to ensure any latitude, judging required a complete overhaul of its operations, its business model, its finances, its human capital and its statutes. It had no more stated intentions but the reduction of overstaffing perceived as one of the structural evils of the carrier, in addition to poor management, should be one of its priorities. It is evil to resurrect our company national airline and make so that its business operations become profitable, had emphasized Khazanah, promising proposals for the end of the month. Some 200 personnel of cabin left spontaneously the company in recent months, their Union stewards and stewardesses were now afraid to fly. MAS employs 19. 500 people. In comparison, the prestigious Singapore Airlines employs 23. 800 people so that its operations are much more extensive. Analysts estimate that Khazanah will have to do the household in the frame, including at the highest level, cut jobs and waive certain destinations in order to redress both his accounts than its reputation. But the company looks delicate. It will be immensely difficult for MAS to recover, thus predicts Shukor Yusof, aviation consulting firm Endau Analytics. The MH370 flight vanished shortly after takeoff from Kuala Lumpur. The aircraft has changed radically flight plan, turning to the West, then South, in the direction of the Indian ocean where it fell short of fuel. No trace of the aircraft was found since. As flight MH17, he was shot by a missile on July 17 while it flew over the territory controlled by pro-Russian separatists. The work of international experts on the spot was suspended early August because of the fighting around the area of debris. . Related data can be inspected visiting info.