(Bloomberg) — Malaysian Airline System Bhd. is facing an influx of passenger cancellations after the carrier's second disaster this year, adding to the strains of a company that's bracing for a fourth consecutive annual loss.
Travel agents from Melbourne to Singapore, New Delhi and Malaysian Air's home country said they've seen a spike in withdrawn reservations since MH17's downing this month — with cancellations climbing above 20% in some places. The Samoan women's rugby team switched to Thai Airways International Pcl from Malaysian Air on July 27 for a flight to a world cup event in France.
The cancellations may add to the financial difficulties of an airline whose state-run parent, Khazanah Nasional Bhd., estimated it only had enough cash to operate for a year even before the latest crash. The two Malaysian Air disasters have left 537 people dead this year, which means 2014 will be the worst year in almost a decade for commercial airline fatalities.
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