Grounded MYAirline in talks with investors to reboot operations

Grounded Malaysian carrier MYAirline is in discussions with investors about shoring up its funding with the aim of resuming operations. The carrier, grounded since 12 October, says it is focused on securing a recapitalization package. “We have received over 15 proposals from potential investors, 2 of whom are in advanced stages of negotiations,” says MYAirline. “The team is working around the clock to finalize a recapitalization package that will revive our operations. This will also facilitate the reimbursement of monies to affected passengers as well as payment of salary and statutory dues.” The airline adds that it has also replied to show cause notices from The Civil Aviation Authority of Malaysia and the Malaysian Aviation Commission (MAVCOM) For the time being, the carrier’s air operator certificate is suspended. MAVCOM has said that it is considering a suspension of MYAirline’s air service license, which allows the airline to sell tickets. Both documents are required for Malaysian carriers to operate scheduled services. Meanwhile, Malaysian media reports indicate that some MYAirline staff have filed police reports about unpaid wages. MYAirline alludes to salary issues, noting that no staff have been laid off. “MYAirline would like to reiterate that we have not terminated or placed any staff on unpaid leave since 12 October 2023 until to-date,” it says. “We do understand the difficulties faced by our staff and we would like to assure them that we are doing everything in our power to address their plight. We would encourage our staff to cooperate with us in this difficult time as we have their best interests at heart.”<br/>