Malaysia Airlines warns of further losses because of tragediesAugust 28, 2014 - 16:48 AMT PanARMENIAN.Net - Malaysia Airlines has warned of further losses in the second half of the year because of the two tragedies to hit the airline in recent months, according to BBC News. In a statement it said it had seen "a sharp decline" in weekly bookings. It comes as the airline reported a second quarter net loss of 307mln Malaysian ringgit ($97.4mln) for the three months to June. The airline has been affected by the crash of flight MH17 in Ukraine and the disappearance of flight MH370. "We expected the impact of MH370 on the performance in Quarter 2," said chief executive Ahmad Jauhari Yahya. "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. 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," he added. Flight MH370 disappeared on March 8 while MH17 crashed in Ukraine on July 17. Malaysia Airlines is being taken private by Malaysia's state investment firm Khazanah Nasional. A restructuring announcement from the company is expected on Friday, Aug 29. The company said it operated in a "harsh business environment of stiff competition" and that even before the two tragedies it was "acutely aware" of the need to restructure. Related links: Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. |