Malaysian Airlines loses USD1.3b as government backs away
(MENAFN) A senior government minister has said that the Malaysian government will not support Malaysia Airlines, its troubled national carrier, with a capital injection. This comes two months after flight MH370 went missing, Gulf News reported.
The Malaysian Minister of Tourism and Culture said that his country's government does not want to put "any more money" into the ailing carrier.
The national carrier decided to restructure after it reported losses by USD1.3 billion over the last three years amid unprofitable routes and strong regional competition.
The airline is going through an increasing financial pressure as bookings are declining due to flight MH370 disappear.
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