Receive Breaking News updates as they occur
Crisis-stricken Malaysia Airlines said Thursday its second-quarter loss nearly doubled as the loss of flight MH370 spurred a decline in bookings, warning the red ink would accelerate as the year wears on. The flag carrier said it posted a 305.7 million ringgit ($97.2 million) loss in the April-June quarter, which followed the March 8 disappearance of flight MH370 with 239 passengers and crew aboard. The latest results mark the sixth straight quarterly loss for Malaysia Airlines (MAS), which has struggled to stay competitive and is now in dire financial straits following MH370 and the July 18 shooting down over Ukraine of flight MH17, which killed all 298 aboard that plane. "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, where we saw a sharp decline in average weekly bookings by 33 percent immediately after the MH17 incident, with numerous flights cancelled," it said.