Malaysia Airlines is unlikely to make a profit this year

In 2013, Malaysia Airlines (MAS) lost 1.17 billion ringgit (359 million USD), nearly 3 times higher than in 2012. This figure may increase sharply this year due to the incident of missing flight MH370.

`We do not rule out the possibility that MAS will replace senior leaders, in the context of poor business and the current missing plane incident,` said Daniel Wong – equity analyst at Hong Leong Investment Bank.

MAS shares have lost nearly 66% since Ahmad Jauhari Yahya became CEO.

Pong Teng Siew – Research Director at Interpac Securities Company commented: `This situation may last for several months. Passengers will consider whether to fly MAS or not. Therefore, they will

According to Thomson Reuters data, 11 out of 12 analysts polled rated MAS shares to sell.

Established in 1947 as Malayan Airways, the airline has undergone many changes.

However, the 1997 Asian crisis pushed the airline into debt, forcing it to abandon many unprofitable routes and cut costs.

In 2010, the company achieved net profit of 237 million USD.

Observers criticized the Malaysian Government for only injecting tax money to save the national airline, rather than truly reforming.

Only recently has the company’s turnaround plan taken effect following a series of measures to improve cash flow and reduce debt.