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MYAirline in talks with investors to resume operations

MYAirline in talks with investors to resume operations

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Malaysian carrier, MYAirline, is in talks with investors to secure a recapitalisation package that will resume its commercial air travel operations.  

According to an official statement on MYAirline’s website seen by A+M, the company said it has received over 15 proposals from potential investors, two of whom are in advanced stages of negotiations.  

“The team is working around the clock to finalise a recapitalisation 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 due,” the statement reads.   

The company added that it has also responded to show cause notices from The Civil Aviation Authority of Malaysia and the Malaysian Aviation Commission (MAVCOM).  

Meanwhile, the company also reiterated that it has not terminated or placed any staff on unpaid leave since 12 October, refuting claims by local reports that some MYAirline staff have reported to the police about unpaid wages.   

“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,” the company said. 

Besides an internal “Tabung Ihsan” which was set-up to collect donations from within MYAirline for employees most adversely affected, the company has also made arrangements with PERKESO for our employees to apply for the Employee Insurance Scheme (EIS) to ease their financial burden during this period. 

A+M has reached out to the IPD and MTUC for further comment. 

This comes after the airline’s abrupt suspension of its commercial air travel operations on 12 October 2023. MYAirline stated on 16 October publicly that it was “making ongoing efforts to rectify errors and oversights in all areas”, particularly related to passengers and staff. 

To date, the airline stated that it has received over 30,000 calls and emails regarding customer care. The cases are being attended to by its customer care team. “We aim to make good on all refunds as soon as we receive the recapitalisation package from our investors,” it said. The airline added that it will continue to provide updates to stakeholders and passengers. 

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