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 market share and face a challenging environment to stand out from competitors while addressing its financial plight. The company's stock, down as much as following the disappearance of Flight 370, had fallen 80% over the previous five years, which contrasted with a rise in the Malaysian stock market of about 80% over the same period. Many analysts and the media suggested that Malaysia Airlines would need to rebrand and repair its image and/or require government assistance to return to profitability. The loss of Flight 17 in July greatly exacerbated Malaysia Airline's financial problems. The combined effect on consumer confidence of