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Jet's disappearance cuts Malaysian Airline's load factor in March

KUALA LUMPUR, April 18 (Reuters) - The disappearance of the Malaysian Airline System's flight MH370 has led to a drop in the national airline's overall load factor, a measure of occupancy, in March.

Total load factor declined to 74.1 percent in March from 78.9 percent a year ago, according to monthly traffic and capacity statistics that MAS issued on Friday. The load factor for international passengers declined 6.3 percent year on year.

The decline comes despite a 12.1 percent increase in the number of international passengers carried in March. Total passengers carried in March rose 14.2 percent from the same month a year earlier. International passengers made up 63.5 percent of the passengers on all flights, the report showed.

Equity analysts have expected that MAS, which saw its net loss grow 171 percent to 1.17 billion ringgit ($361.33 million)in 2013 from 2012, could record a loss in bookings after the disappearance of MH370 in March.

The flight was carrying 227 passengers and 12 crew members to Beijing, China, from Kuala Lumpur International Airport on March 8. It disappeared from radar screens a couple of hours later while over the South China Sea.

Shares of MAS have dropped some 16 percent since the MH370 incident. The counter ended 4.35 percent lower at 22 sen per share on Friday, which is its cheapest valuation for the past 12 years in terms of price-to-book value.

($1 = 3.2380 Malaysian Ringgit)

(Reporting By Yantoultra Ngui; Editing by Larry King)