MYAirline secures investor from the Middle East - sources

MYAirline Sdn Bhd has secured and signed a sale and purchase agreement (SPA) in late December 2023 with an investor from the Middle East, sources said. Without citing the name of the investor, sources hoped MYAirline could now work towards resuming operations by the middle of this year. "The first action item hopefully is the payment of salaries and refunding passengers,” a source told Bernama. As the new investor is now on board, the airline is believed to have applied to the Malaysian Aviation Commission (Mavcom) for a conditional air service licence (ASL), thereafter uplifting the Air Operator Certificate (AOC) from the Civil Aviation Authority of Malaysia (CAAM) before obtaining a full ASL to operate. According to Civil Aviation Directives 6004 -- Issuance and Renewal Requirements for Air Operator Certificate (AOC), a fleet shall consist of a minimum of two airplanes or helicopters for scheduled operations; the specification may, nevertheless, be reduced to one aircraft or helicopter for non-schedule operations. Meanwhile, an application for an ASL will require a minimum of 90 days to process. "They have to clear the debt as soon as possible to start operating like before,” a source said.<br/>