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Worst yet to come for MAS, warn analysts
Published:  May 16, 2014 12:28 PM
Updated: 3:15 PM

Latest developments:

  • Hishammuddin says the whole world should share blame over MH370

 

  • Najib says too late to save MAS, bankruptcy considered
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  • Families want data given to independent analysts, not just M'sia
  •  

  • Inmarsat says Malaysia was handed raw satellite data
  • Follow us as we bring the latest updates and coverage for the search of Flight MH370:

    World leaders urged to pressure M'sian gov't

    5.30pm: Indian national Pralhad Shirsath, whose wife Kranti Shirsath was on board MH370, has urged world leaders to put pressure on Malaysia's government. Condemning the government's preliminary report released over a week ago, Pralhard wrote in an open letter that he was frustrated because nothing truthful has emerged.

    He alleged that the report was "absurd and irresponsible" and charged that the government had put out contradictory and confusing information and delayed communication. He also charged that Malaysia was misleading the search and rescue operation and did not take timely action to save the plane and its passengers.

    "I urge you to request the Malaysian authorities for a speedy, transparent and trustworthy investigation. I desperately want the truth about where my wife is, what has happened to her and all the passengers and what caused the plane to disappear.

    "Offering compensation to family members and forcing them to believe their loved ones are lost without any evidence is totally inappropriate," Pralhard wrote.

    Read the full letter here .

    A week ago, another Indian national also wrote a letter to PM Najib demanding him to put in more effort .

    MAS to feel MH370 effect in April-June quarter

    4.20pm: The Wall Street Journal , in an analysis, warns that the "worse may yet to come" for Malaysia Airlines (MAS) despite the carrier recording a RM443 million loss for the first three months of 2014.

    Quoting analysts, the report says that the real repercussion due to the disappearance of MH370 could only be felt in the April-June quarter.

    TA securities analyst Tan Kam Meng, according to the report, says MAS should focus on the niche market instead of lowering its fares to fill up its seats.

    MAS had registered losses in all three financial quarters last year.

    Hisham: Whole world to blame over fruitless search

    4.10pm: Pointing out that 26 countries have joined in the MH370 search effort, acting Transport Minister Hishammuddin Hussein tells critics of Malaysia’s search effort that “nearly the whole world” should share the blame too.

    “If you want to apportion blame, you have to apportion blame to nearly the whole world,” The Malay Mail Online quotes him as saying in an interview today.

    The search for the missing aircraft has now gone on for 70 days in what is already being touted as the largest and most expensive search operation in aviation history, but has yet to turn up any trace it.

    CEO: Bailout not needed to save MAS

    1.15pm: Prime Minister Najib Abdul Razak says it is now too late to save MAS and bankruptcy is among the options being considered to restructure it, according to a Wall Street Journal report.

    However, the loss-making airline’s CEO Ahmad Jauhari Yahya disagrees, saying the airline can still be revived without a bailout or filing for bankruptcy.

     

    Read more here .

    Families fume over contradicting data claims

    12.50pm: Families of those onboard MH370 are fuming over contradictory statements between the British communications satellite company Inmarsat and acting Transport Minister Hishammuddin Hussein.

    “Inmarsat says they have released ‘all data’. The Malaysian government says they never got it. Really? At Day 70, we are having a "he said, he said" stand-up comedy routine!” the Association for Families of the Passengers and Crew on board MH370 (Voice370) laments on its official Facebook page.

    The group says the raw data should not be released only to Malaysia because it is liable for the loss of their family members, but also to a team of “recognised, independent analysts”.

    “Please Inmarsat, find a way to make this happen! What can we do to help you do that?” the group pleads.

    Inmarsat contradicts Hisham, data is in Malaysian hands

    12.20pm: British satellite communications company Inmarsat insists that it has already turned over its raw data to the investigators of the MH370 incident.

    “Inmarsat's raw data was provided to the investigation team at an early stage in the search for MH370…

    “We have very high confidence in the analysis of this data, which was independently evaluated by the international teams accredited to the official investigation,” CNN quotes Inmarsat’s vice-president of external relations Chris McLaughlin as saying.

    His statement contradicts that of acting Transport Minister Hishammuddin Hussein’s ( right ), who yesterday said that the raw data is with Inmarsat and it is up to the company to release it.

    Analysis of that data has led investigators to conclude that MH370 crashed somewhere in the South Indian Ocean, but search efforts there have yet to find any trace of the aircraft.

    Families of those onboard the missing flight had been lobbying for the data’s release so that it can be independently analysed and ensure that the search is in the right area.

    Background:

    • The Beijing-bound Boeing 777-200ER aircraft went missing not long after taking off from KL International Airport in the early hours of March 8, with 12 crew members and 227 passengers.

     

  • Authorities have determined that the plane intentionally turned back shortly after cutting communications with tower controllers for unknown reasons and, based on satellite data, have estimated its last position to be in the south Indian Ocean.
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  • Australia leads the search in the south Indian Ocean. As of March 30, the Joint Agency Coordination Centre (JACC) is tasked with overseeing the operations, led by retired air marshal and former defence chief Angus Houston.
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  • The autonomous underwater vehicle (AUV) Bluefin-21 was deployed on April 14 to conduct an undersea search where the Australia Defence Vessel Ocean Shield had picked up two pings similar to black boxes on April 5 and two more on April 8 but failed to reacquire them again with the pinger locator.
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  • However, by April 28, with no sign of the wreckage, authorities announced that the search will move on the next phase, which will focus on a larger and deeper area of the sea floor, while the aerial search will cease as it is highly unlikely any floating debris will be found at this stage.
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