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Malaysia's upstart airlines are struggling to take off

Malindo Air is the only upstart challenger in Malaysia that has been able to hold its own against AirAsia and Malaysia Airlines.

KUALA LUMPUR A handful of investor groups that eyed opportunity amid troubles and tragedies at Malaysia's two major airlines are finding the country's skies too bumpy to navigate.

Between them, Malaysia Airlines and AirAsia experienced three fatal crashes overseas in 2014, and both also saw their financial results decline. Betting that fliers at home and abroad might be looking for alternatives, two new companies moved to enter the market last year, and others have made moves to do so this year. Malindo Air, which launched flights in 2013, began upgrading its offerings and adding international routes.

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