KUALA LUMPUR, July 22 — Hobbled by two air disasters in the span of four months, Malaysia Airlines (MAS) reached out to the Australasian market for support today, offering a determination to rebuild trust.

The Australasian market is the ailing airline’s biggest market outside Malaysia.

“We are determined to rebuild trust in Malaysia Airlines as one of the best full-service carriers in the world and we appreciate the support of travel agencies, passengers and our valued employees,” its regional senior vice-president for Australia, New Zealand and the South-west Pacific, Lee Poh Kait said in a statement both humbling and hopeful.

He said the airline’s capacity from Australia and New Zealand grew by a third in February this year, adding that the airline has invested a new fleet of A330 planes and A$800 million (RM2.38 billion) in aircraft time to cater to the market.

“The Malaysian Government, the majority shareholder in Malaysia Airlines, is committed to ensuring the airline’s long-term future as its national carrier”, Lee said.

The loss-making flag carrier’s options have narrowed further following the downing of Flight MH17 last week. 

The financial wire Bloomberg reported MAS could file for bankruptcy or be taken private by its biggest shareholder, state-owned Khazanah Nasional Berhad.

Flight MH17, en route from Amsterdam to Kuala Lumpur, was shot down by a missile over strife-torn east Ukraine last Thursday, killing all 298 people on board.

MAS shares traded at 18.5 sen when the market closed Friday, nearing its lifetime low of 15 sen.

The full-service airline, already in the red for the past three consecutive years, bled a further RM443.4 million in the first quarter of this year, after losing RM1.17 billion last year.

The airlines’ executives attributed the loss to the March 8 disappearance of Beijing-bound flight MH370, which resulted in massive ticket cancellations.

Industry experts predict ticket sales for MAS will plunge further following the July 17 crash, pointing out the incredibly competitive market connecting Europe and Asia.

Add to that, Malaysia’s aged fleet of Boeing 777-200ERs, used in long-haul flights, which average at 14-years-old according to airfleets.com, put them among the world’s oldest.

MAS has offered full refunds for tickets for all travel until the end of the year and asked passengers to inform the airline by July 24 latest.