(MENAFN) Malaysian Airline System (MAS) announced an increase in net loss to USD97.6 million in the April-June period compared to a net loss of USD55.73 million in the same period last year, Arab News reported.
Despite the increase in net losses, these results are still considered an improvement compared to the net loss of USD140.35 million the airlines registered in the January-March period.
The airline is expected to be taken private by its majority shareholder, state fund Khazanah National, in order to refurbish the business which was devastated this year by MH370's loss and the shooting down of Flight MH17 over Ukraine in July.
The two tragedies are expected to affect the airline's earnings during the second half too, as average weekly bookings declined 33 percent.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.