KINIBIZ The disappearance of Malaysia Airlines flight MH370 in March 2014 has had an adverse impact on the airline’s financials with a reported net loss of RM307 million for the second quarter ended June.

Together with earlier losses of RM443 million in the first quarter, the national carrier’s first half losses now stand at RM750 million or 65 percent more than the same six-month period last year.

“We expected the impact of MH370 on the performance in the second quarter. Given that, our team put in much hard work and effort to regain market confidence and rebuild sales.

“Tragically, just as we were beginning to see signs of recovery in all regions, we were dealt the blow of MH17,” said Malaysia Airlines CEO Ahmad Jauhari Yahya (left) .

In the aftermath of the MH370 disaster, specifically the second quarter months of April, May and June, revenue from operations fell 5% year-on-year. Malaysia Airlines says the decline was “a result of lower yield and seat factor.”

Cost saving measures and productivity improvements, have been unable to boost financial performance, Malaysia Airlines admitted in a statement today.

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