The MH370 has now been missing since March, yet there still remains no answers for as to what exactly happened on that catastrophic day. The tragic midst that surrounds the missing aircraft has had a significant affect on Malaysia Airlines, who have seen sales from China fall by a significant 60 per cent.
On Thursday its net loss had expanded to 443.4 million ringgit ($137.8 million), up from 278.8 million ringgit in the January-to-March period last year, this has meant that the airline has seen a 59 per cent loss in its first quarter. The airline is currently in a very vulnerable position and will struggle enormously to regain a position of profit.
Increasing the pressure on the airline even further, is the general lack of support there seems to be from key influential figures; The Malaysia Defense Minister Hishammuddin Hussein said ‘the government has no plans to provide any financial assistance to bail out Malaysia Airlines’. He also declared that ‘Malaysia’s Cabinet endorsed the plans made with China and Australia earlier to shift to a deep-sea phase in the search for the plane, believed to be in the remote Indian Ocean west of Australia.’
Malaysia Airlines have reported that they will review its business models and plans to ensure they are sustainable. These next steps will be imperative for the future of the airline.