Malaysia Airlines financial woes continue post tragedies

Malaysia Airlines financial woes continue post tragedies
By admin


The twin tragedies for Malaysia Airlines have impacted their bottom line, reporting a 2nd Quarter net loss of RM307 million ($104 million) for the three months ended 30 June 2014.

This loss adds to the 1st Quarter loss of RM443 million ($150 million) and mark the sixth straight quarterly loss for Malaysia Airlines.

The airline has struggled to stay competitive following the loss of MH370 and the 18 July shooting down over Ukraine of flight MH17, which killed all 298 aboard that plane, and is now in dire straits financially.

Even before the recent tragedies, Malaysia Airlines was acutely aware of the need to restructure the Company’s operations following the weak financial performance.

“We operate in a harsh business environment of stiff competition from regional and global carriers and high operational costs, and this coupled with the impact of the two tragedies which have damaged our brand, the need to restructure the Company was accelerated,” Malaysian Airlines spokesperson Ahmad Jauhari said.

The full financial impact of the double tragedies of MH370 and MH17 is expected to hit Malaysia Airlines in the second half of the year.

Majority shareholder, Khazanah Nasional Berhad, announced on 8 August 2014 its intention to take full ownership of Malaysia Airlines and delist it from Bursa Malaysia. This has yet to be approved, however it is expected when it does, there will be an action a plan to restructure the airline group towards returning it to profitability.

Meanwhile, Malaysia Airlines has turned to heavily discounting the price of their flights and giveaways to lure customers back as passengers and crew desert the troubled airline.

Aimed at attracting Australian and New Zealand passengers, the airline is offering “astounding new online offers” starting from $495 for a return economy class airfare ticket to Kuala Lumpur.

Additionally Malaysia Airlines is offering last-minute weekend deals to Kota Kinabalu from $557 and is giving away 12 return flights to Kuala Lumpur as part of its “My Ultimate Bucket List” competition.

Latest News

  • Hotels

Hotel d’Inghilterra completes its extensive restyling

Hotel d’Inghilterra, the historic and unique accommodation landmark in Rome, has completed its rebirth with the iconic property enhancing its charm event further. Located just a few steps from the iconic Spanish Steps and the Via Condotti, the hotel’s innate elegance has been home of international patrons and Roman nobility since the mid 16th century. […]

  • Cruise

Oceania Cruises unveils its new brand value promise to all guests

Culinary- and destination-focused cruise line, Oceania Cruises, has unveiled its ‘Your World Included’  featuring an updated selection of always included amenities. The new offer cements the brand’s promise of ‘Your World, Your Way’ branding and as part of it, all guests will receive included shipboard gratuities for stateroom attendants, butlers, and dining waitstaff automatically in […]

  • Destinations

Adventure World unveils new Canada MAKE TRAVEL MATTER campaign

Adventure World has unveiled a new Canada campaign going beyond breathtaking landscapes and iconic sights and inviting Aussie travellers to MAKE TRAVEL MATTER by giving back to the destinations they explore. Through the innovative MAKE TRAVEL MATTER program, starting this month, travellers can add meaningful experiences to their Canadian adventures. Imagine participating in a wildlife […]

  • News
  • Tourism

Intrepid Adventures launches new travel show on Channel 10

Intrepid Travel has launched a new six-part travel series, Intrepid Adventures, premiering on Channel 10 this Sunday, 8 September. In partnership with creative production house, Sloane Media and the Moroccan National Tourist Office, the program shifts the spotlight from traditional tourist sights to the local guides and communities that bring each destination to life. The […]

  • Luxury
  • News

Luxury Travel Collection reveals ‘Leaders who Lunch’ series

The Luxury Travel Collection (LTC) launched ‘Leaders Who Lunch’ (LWL) with its first event today, bringing together an intimate group of luxury advisors with global luxury partner, Silversea. This new series of intimate, invitation-only lunches will connect influential global senior leaders from LTC’s luxury partner network, with a hand-selected group of members to nurture elevated […]

  • Cruise
  • Travel Agents

MSC Cruises hosts ’Deep Dive on Japan’ webinar

MSC Cruises has announced an exclusive webinar tailored for travel partners that offers an in-depth look at their Japan 2025 itineraries and more. The 20-minute webinar, followed by a 5-minute interactive Q&A session, is designed to provide travel partners with comprehensive insights into the popular destination of the Far-East and top selling itineraries. Japan and […]

  • News

World-first education initiative introduces “Guardian of the Reef” platform

Tourism Tropical North Queensland has partnered with Expedia in the US, UK and Australia to introduce the “Guardian of the Reef”, a world-first platform. Conservation curious travellers can visit the newly launched website and work through a series of short educational videos, each with a coupon reward system to use with Expedia bookings on the […]

  • Cruise

Explora Journeys announces godmother for EXPLORA II

Explora Journeys, the luxury lifestyle ocean travel brand of the MSC Group, has announced that environmentalist Rosalba Giugni as the godmother of their newest ship, the EXPLORA II. The ship’s official naming ceremony will be on 15 September 2024 in Civitavecchia, Italy and marks the latest addition to the Explora Journey’s fleet. It reflects the […]

  • Aviation

Malaysia Airlines launches direct flight to Paris

Malaysia Airlines has announced direct flights to Charles de Gaulle Airport (CDG) in Paris, marking a key milestone in the airline’s European expansion. This route, which will commence on 22 March 2025, represents Malaysia Airlines’ 68th destination, reinforcing its position as the gateway to Asia and beyond. In celebration of the route’s return after nearly […]

  • Hotels

Oasia Resort Sentosa unveils new room category and junior suites

The Oasia Resort Sentosa has unveiled its latest Courtyard Premier rooms and refreshed Junior Suites as well as a staycation offer for pet owners and their furry friends. Located on level two in the Palawan Wing, the 19 Courtyard Premier rooms each span 63sqm with a spacious alfresco area with bean bags and a dining […]

  • Hotels

Park Regis by Prince Singapore debuts under a new brand name following extensive refurbishments

The debut of the Park Regis by Prince Singapore marks the global expansion of Seibu Prince Hotels & Resorts since launching its new global brand identity in April. Following this rebranding of the property and extensive refurbishment, Park Regis by Prince Singapore is an urban oasis that effortlessly encapsulates the essence of its unique bi-culture […]