Malaysian Airlines faces possible delisting after suffering its latest blow this year, Bloomberg reported.

On top of the likely delisting, analysts fear the airline will not survive the twin catastrophes.

In March, Malaysia Airlines flight 370 disappeared with 239 passengers on board. On Thursday, flight 17, widely believed to have been shot down, crashed in Ukraine carrying 298 passengers

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Bloomberg's article, citing unnamed sources, stated that the airline would be handing over its revival plan to its largest stakeholder, Khazanah Nasional, this week. The report added that several options are contained in the plan that included declaring bankruptcy and privatization of the airline, ending its stint as a publicly -traded company.

In May, the airlines reported a loss of $138 million covering the first quarter. The decline was 59 percent compared to 2013. The airline is also about to release its second quarter report next month and analysts are not too confident about the results.

"We expect Malaysian Airline's upcoming 2Q14 results to be the weakest ever," Maybank analyst Moshin Aziz was quoted as saying in Sydney Morning Herald.

The day after the MH17 crash, the airlines' shares dipped by11 percent. On Tuesday, shares showed some positive improvement.

The airline, despite the crushing loss, has urged passengers for continued patronage especially in the Australia and New Zealand region.

A statement from the airline Tuesday stated that the Malaysian government was "committed to ensuring the airline's long term future as its national carrier."

TagsMalaysian Airlines