Fri. Jul 12th, 2024

Malaysia Airlines’ big year

Malaysia Airlines' big year 2
Malaysia Airlines' big year 2

In early March, Malaysia Airlines flight MH370 went missing and to date no trace has been found.

The incident has seriously affected Malaysia Airlines’ reputation and business with the major market of China.

Malaysia Airlines had a forgettable 2014.

Yesterday, another airline plane crashed in a war zone in eastern Ukraine, killing 298 people.

Malaysia Airlines is facing lawsuits and millions of dollars in compensation for passengers’ families, according to CNN.

Analysts say the company’s future is hanging in the balance.

For many years, Malaysia Airlines has faced fierce competition from regional airlines.

However, the above strategy has not yet been effective.

“Yesterday’s news was very shocking.

The number of passengers traveling on Malaysia Airlines decreased by 4% in May compared to the same period last year.

Ironically, before the accident happened, investors had begun to believe that the worst period for the company was over, Bloomberg said.

The Malaysian government has also offered help in the past, but it was only temporary.

`This helped them become profitable for the next few years, before falling back into losses due to ineffective management and union domination,` said Asia-Pacific research director at Credit Suisse.

However, Ted Gavin – CEO of consulting firm Gavin/Solmonese commented: `This is a life or death incident for an airline. But it is also an opportunity for them to turn the situation around if they know how to handle it.`

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