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Malaysia Airlines Loses up to $2Mln Daily after MH370, MH17 Tragedies

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Malaysia Airlines is on the verge of bankruptcy, losing up to $2 million every day, after its flight MH370 disappeared in March and MH17 crashed four months later, Agence France-Presse wrote Sunday citing analysts from a Malaysia-based aviation consultancy Endau Analytics.

MOSCOW, July 28 (RIA Novosti) - Malaysia Airlines is on the verge of bankruptcy, losing up to $2 million every day, after its flight MH370 disappeared in March and MH17 crashed four months later, Agence France-Presse wrote Sunday citing analysts from a Malaysia-based aviation consultancy Endau Analytics.

"The harrowing reality for Malaysia Airlines after MH17 is that if the government doesn’t have an immediate game plan, every day that passes will contribute to its self-destruction and eventual demise," aviation analyst Shukor Yusof told AFP.

Losing "one to two million US dollars a day," the airline has "the bandwidth to stay afloat for about six more months based on my estimates of its cash reserves," Shukor said.

Earlier reports put Malaysia Airlines' loss in the past 3 year at $1.3 billion.

According to Daily Mail, the airline prepares a range of measures to recover its image. The possible steps include changing the company's name, creating new air paths, selling the company to a private buyer or filing for bankruptcy with the following renegotiation with the trade unions.

Flight МН370, which was flying from Kuala Lumpur to Beijing with 239 people, representing 14 nations, disappeared from radars on March 8. Months of search operations in the Indian Ocean have failed to locate the plane's remains.

The MH17 Boeing crashed in eastern Ukraine's Donetsk Region on July 17, killing all 298 people on board, mostly Dutch citizens.

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