The airline struggled to cut costs in order to compete with a wave of new, low-cost carriers in the region. The airline lost RM443.4 million (US$137.4 million) in the first quarter of 2014. The second quarter—the first in the aftermath of Flight 370's disappearance – saw a loss of RM307.04 million (US$97.6 million), which represented a 75% increase over losses from the second-quarter of 2013. As a result, MAS has not made a profit since 2010. In the previous three years, the airline had booked losses of: RM1.17 billion (US$356 million) in 2013, RM433 million in 2012, and RM2.5 billion in 2011. Industry analysts expect MAS to lose further market share and face a challenging environment to stand out from competitors while addressing their financial plight. The company's stock, down as much as 20% following the disappearance of Flight 370, had fallen 80% over the previous five years, which contrasts with a rise in the Malaysian stock market of about 80% over the same period.