Malaysia Airlines’ third quarter loss widens to $167.4 million

Malaysia Airlines (Kuala Lumpur) reported its third quarter loss expanded to MYR 576.1 million ($167.4 million) for the three months ending on September 30, deepened from a deficit of MYR 375.4 million ($109.1 million) in the same quarter of 2013.

The government-owned airline has been suffering from the aftermath of two tragic Boeing 777-200 accidents.

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In other news, previously the company issued this statement on November 10 concerning missing flight MH 370 concerning media speculation:

Malaysia Airlines refers to recent news articles speculating on an official declaration of loss of flight MH 370.

Addressing the speculation to family members via letters, the airline highlighted that any course of action is always guided by the advice of the technical team in charge of the search operations.

The assurances given to us are that the ongoing search and recovery operations will remain and will not be discontinued.

Recent speculation in the press regarding a declaration of loss followed the expression of a personal opinion only. Any information regarding MH 370, the search and recovery operations and any matters related to the missing aircraft will only be communicated by the Joint Agency Coordination Centre (JACC).

Malaysia Airlines is hopeful that we will find closure to this tragedy and we support and thank our government as well as the governments of Australia and China for their invaluable assistance in this time of crisis.

The airline shares the pain and anguish of family members in having to deal and come to terms with this situation, as such we have assured them that locating the aircraft and recovering the flight data recorders remain the key priority. Every party involved in this complex operation is as determined as the families and Malaysia Airlines to find answers to our many questions.

With regard to the level of compensation available pursuant to the Montreal Convention, or similar applicable legal regime, the airline has made it very clear that payments are determined by law to take account of proven passenger and family circumstances and will be assessed accordingly.

Malaysia Airlines and its insurers remain steadfast to ensure that fair and reasonable compensation is paid to the families of all MH 370 passengers in accordance with the law when the families are ready to discuss the issue. We have stated this publicly on many occasions and we reiterate that the airline will honor any commitments that we have made.

The well-being of the family members is always our main priority, and we will continue to communicate on any updates as and when we have them.

Our thoughts and prayers continue to be with the families of passengers and crew of MH 370.

Copyright Photo: David Apps/ Malaysia Airlines is down to one remaining passenger Boeing 747-400, the pictured 747-4H6 9M-MPP (msn 29900), which is mainly used as a back-up aircraft for the Airbus A380s.

Malaysia Airlines aircraft slide show:

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