MYAirline Allegedly Secures New Investor & Hopes to be Back in Action by Mid 2024

MYAirline Sdn Bhd has apparently been acquired by an investor from the Middle East at the end of December 2023, with a sales and purchase agreement being signed.

According to a report by Bernama, a source, who did not name the investor, hopes that MYAirline can implement efforts to resume operations by the middle of this year.

“The first action expected is the payment of salaries and refunds to passengers,” the source shared.

Now that there is a alleged new investor, the airline is believed to have applied to the Malaysian Aviation Commission (Mavcom) for a conditional Air Services License (ASL), then an Air Operator’s Certificate (AOC) from the Civil Aviation Authority of Malaysia (CAAM) before receiving a full ASL to operate.

Mavcom has since confirmed that they will only start the evaluation process after receiving a complete submission.

Though, prior to that, there’s something more important that needs to be done.

“They need to settle their debt as soon as possible to resume operations are before,” the source added.

When asked whether the airline would be operated by an international company or a local company, the source explained that the acquisition of an airline in Malaysia would require the ownership of 51% of Malaysian shares.

Despite having obtained an investor, it is still uncertain when the settlement of salary payments of about 900 staff members and the refunds to 117,000 affected passenger would be done.

Would you like to see MYAirline back in action? Do feel free to share your thoughts in the comment section.

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