Malaysia Airlines Flight 370 and replaced it with Flight 318 (MH318) beginning 14 March. This follows a common practice among airlines to rename flights following notorious accidents. The flight—Malaysia Airline's second daily flight to Beijing—was later suspended beginning 2 May; according to insiders, this was due to lack of demand. Malaysia Airlines was given US$110 million from insurers in March 2014 to cover initial payments to passengers' families and the search effort. In May, remarks from lead reinsurer of the flight, Allianz, indicated the insured market loss on Flight 370, including the search, was about US$350 million. At the time of Flight 370's disappearance,
Malaysia Airlines Flight 370 Airlines from China, where the majority of passengers were from, were down 60% in March. In late March, several major Chinese ticketing agencies—eLong, LY.com, Qunar and Mango—discontinued the sale of airline tickets to Malaysia and several large Chinese travel agencies reported a 50-percent drop in tourists compared to the same period the year before. China was the third largest source of visitors to Malaysia prior to Flight 370's disappearance, accounting for 1.79 million tourists in 2013. One market analyst predicted a 20–40% drop in Chinese tourists to Malaysia, resulting in a loss of 4–8 billion yuan (RM2.1–4.2 billion; US$0.65–1.3 billion).