Malaysia Airlines have reported their biggest quarterly net loss in two years of £82 million, as passengers shunned the company after flight MH370 disappeared earlier this year with 239 people on board.
In a statement, the operator said: "The tragic MH370 incident had a dramatic impact on the traditionally weak first quarter performance."
The jetliner vanished from radar screens on 8 March as it was travelling from Kuala Lumpur to Beijing.
The carrier has since seen a spike in the number of flight cancellations and a slump in passengers purchasing long haul flights, with sales in China declining sharply by almost 60 per cent in March.
The airline had been hoping to return to profit this year after its losses ballooned to 1.17 billion ringgit (£216 million) in 2013.
Authorities believe the plane crashed into the Indian Ocean and an international search was conducted off Australia’s west coast, but to no avail.
In pictures: Missing Malaysia Airlines flight MH370
In pictures: Missing Malaysia Airlines flight MH370
1/13 Chinese relatives
A family member of a passenger aboard the missing Malaysia Airlines flight MH370 burns incense as he prays at Yonghegong Lama Temple in Beijing
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Family members of passengers aboard the missing Malaysia Airlines flight MH370 burn incense to pray at Yonghegong Lama Temple in Beijing
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A family member of a passenger aboard the missing Malaysia Airlines flight MH370 comforts another relative as they gather to pray at Yonghegong Lama Temple in Beijing
4/13 Chinese relatives
Relatives of passengers on missing Malaysia Airlines flight MH370 cry as they gather at the Lama Temple in Beijing. Chinese relatives marked 100 days since the plane went missing on a flight from Kuala Lumpur, Malaysia to Beijing by offering prayers and burning incense at the buddhist temple
5/13 Chinese relatives
Relatives of passengers on missing Malaysia Airlines flight MH370 offer prayers at the Lama Temple in Beijing
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A Chinese relative of passengers of Malaysia Airlines flight MH370 prays at the Lama Temple in Beijing
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Chinese relatives of passengers of Malaysia Airlines flight MH370 hold incense sticks and pray at the Lama Temple in Beijing
8/13 Malaysian relatives
Intan Maizura Othman (34) wife of MH370 fligh attendant Hazrin Hasnan holds placard during an event to remember the 100th day of the missing crews and passengers of Malaysian Airlines plane MH370 in Damansara, Selangor
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A young relative tries to stick paper planes on a board during an event to remember the 100th day of the missing crews and passengers of Malaysian Airlines plane MH370 in Damansara, Selangor
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Pictures of crews and passengers is displayed during an event to remember the 100th day of the missing crews and passengers of Malaysian Airlines plane MH370 in Damansara, Selangor
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Chinese police men try to prevent relatives of Chinese passengers onboard the Malaysia Airlines MH370 from marching to the Malaysian embassy from a hotel in Beijing
12/13 Search for flight MH370
Boatswain's Mate, Able Seaman Morgan Macdonald (L) observing markers from a Royal New Zealand Air Force (RNZAF) P3K Orion at sea in the Southern Indian Ocean. An oil slick in the Indian Ocean is not from missing Malaysia Airlines flight MH370, officials said when insisting underwater search efforts would be 'pursued to their completion'
13/13 Search for flight MH370
Craig Turner from Phoenix International monitoring the Artemis' depth and speed as the Autonomous Underwater Vehicle scans the ocean floor for missing Malaysia Airlines flight MH 370 in the southern Indian Ocean
On Thursday Malaysia, China and Australia agreed to re-examine all data related to the hunt after a massive search operation involving satellites, aircraft, ships and sophisticated underwater equipment capable of scouring the ocean floor failed to turn up any trace of the plane.
The United States announced in May it would continue to loan its sophisticated Bluefin-21 underwater drone for one more month, placing pressure on the three countries to fund the next phase of the search.
The three countries also agreed at a meeting in Canberra last week to undertake a survey to map the ocean floor and procure more deep-sea search vehicles and other equipment to scour it, acting Transport Minister Hishammuddin Hussein said.
Australia would have responsibility for procuring new search assets from commercial contractors, he explained, while Malaysia and China would assign additional equipment and services for the search.
The Malaysian Prime Minister described the missing Boeing 777 as one of the world's greatest aviation mysteries in an article for the Wall Street Journal.
Najib Razak said: £Nobody saw this coming, nobody knows why it happened, and nobody knows precisely where it is," and called for real-time tracking of planes to prevent such a tragedy from happening again.
"One of the most astonishing things about this tragedy is the revelation that an airliner the size of a Boeing 777 can vanish, almost without a trace. In an age of smartphones and mobile Internet, real-time tracking of commercial airplanes is long overdue," he continued.
The current search effort involving the robot submarine is on hold because a defective part must be replaced.
Additional reporting by agenciesReuse content