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Malaysia Airlines stock hit record low
馬來西亞航空股票創(chuàng)新低
While a multi-nation effort goes on to find the missing MH370 plane--its carrier, Malaysia Airlines, is bearing stock market losses--so far the stock is down more than 20% year to date.
Malaysia Airlines stock price dropped as much as 18 per cent in early trading on the first day of trading since the incident Monday. They hit record lows before rebounding somewhat later in the day.
There concerns about the impact the incident will have on the company’s already shaky bottom line.
It could hit public perceptions, bookings, and increase insurance premiums for the national flag carrier.
Malaysia Airlines hasn’t been profitable since 2010. Last year it recorded losses of 360 million dollars. It faced high fuel costs, high labour costs, and above all intense competition, not least from Malaysia-based low cost carrier Air Asia.
There are some worries about how the incident will affect the company’s business plans, its grand master plan to return Malaysia Airlines to the black.
Analysts say much will depend on customers and investors view Malaysia Airlines handling of this crisis.
