— This is the script of CNBC's news report for China's CCTV on March 10, Monday.
Welcome to the CNBC Business Daily.
Malaysia Airlines shares took a big hit today as the search for the missing MAS plane continues.
At least 40 ships and 22 aircraft from 9 countries around the world are taking part in the search for MH370, which disappeared in the early hours of Saturday morning en route to Beijing.
The full service airline has battled stiff competition from budget carriers, which have expanded dramatically over the past decade. Budget airlines currently make up 50- percent of the travel market in Asia, and Malaysia Airlines has struggled to keep up.
Analysts say that while the incident will likely have a short term impact on Malaysia Airlines' reputation, the company's financial troubles do not appear to have compromised the airline's safety standards. Malaysia Airlines remains one of the safest carriers in Asia, with a six out of seven safety rating.
Li Sixuan, reporting from CNBC's headquarters in Singapore.