Malaysia Airlines losses worsen on MH370 disappearance
Malaysia Airlines chief executive Ahmad Jauhari Yahya
has been under pressure to fix the company finances
Malaysia Airlines has seen its losses
deepen after Flight 370 vanished over two months ago, raising questions about
the future of the 76-year-old carrier.
The company's net loss rose by 59% to 443m ringgit ($138m; £82m) in the
January-to-March period, marking its fifth straight quarter of losses.The firm attributed it to "tough operating conditions" and "negative sentiment".
Investors shrugged off the news with shares rising 2.4%.
Only 30% of the company is able to be bought freely on the stock exchange in Kuala Lumpur, with the rest held by state investment firm Khazanah Nasional.
Of the 30% that trades on Malaysia's stock exchange, most of that is owned by the country's pension funds and other institutions, leaving a small proportion for retail investors to trade.
Overall though, the firm has lost more than 40% of its market value this year.
The results were made worse with the impact on air travel in general following the disappearance of MH370”
Ahmad Jauhari Yahya Chief executive, Malaysia Airlines
Flight 370 went missing on 8 March while flying from
Kuala Lumpur to Beijing, leading to a massive search and rescue operation that
is still ongoing and may cost millions of dollars.
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