Malaysia Airlines posts net loss of $98m

Kuala Lumpur - Malaysia Airlines on Thursday reported another financial loss and warned of poor second-half earnings, as passenger bookings tumbled in response to the loss of two aircraft in separate disasters this year.

In a statement to the stock exchange, Malaysian Airline System Bhd said its second-quarter net loss swelled to 307.04m Malaysian ringgit from a net loss of 175.9m ringgit in the same period a year earlier.

READ: Malaysia Airlines faces 'complete overhaul'

The result was an improvement from the net loss of 443m ringgit it reported in the first quarter.

The April to June earnings are the first to fully reflect the impact on sales of the unexplained disappearance of Flight MH370 in March.

READ: Malaysia Airlines to be taken private

Malaysia Airlines is set to be taken private by its majority shareholder, state fund Khazanah Nasional Bhd, in a move to revamp its business, devastated this year by MH370's loss and the shooting down of Flight MH17 over Ukraine in July. Details of the restructuring are expected on Friday.

READ THIS NEXT: Malaysia Airlines staff brace for job cuts