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Malaysia Airlines and AirAsia, once contrasting, now face same crisis

State-run carrier and its budget rival both seeking debt relief

Malaysia Airlines has recorded losses every year since 2011. (Photo by Shinya Sawai)

SINGAPORE -- Struggling flag carrier Malaysia Airlines' previous attempt turn itself around collided with low-cost local rival AirAsia Group's rise. Now, both companies have run into the same turbulence.

Malaysia Airlines, which has yet to recover from two 2014 tragedies that made global headlines, faces a growing risk of being forced to halt flights unless it secures aid. But the state has frowned on the idea of another bailout.

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