KLANG – Customers and staffers of MYAirline Sdn Bhd will likely have to wait longer to receive their refunds from the troubled low-cost carrier, amid a potential acquisition of the cash-strapped company.
Transport Minister Anthony Loke said that MYAirline must provide evidence of its financial capacity to operate before proceeding with a new investor.
He said the company is obligated to submit applications to the Malaysian Aviation Commission (Mavcom) and the Civil Aviation Authority of Malaysia (CAAM) for a thorough evaluation of its status.
“It is a commercial decision. We’ll wait for MYAirline to finalise their commercial deliberations first,” he said during a press conference after officiating the Costa Serena cruise at Port Klang Cruise Terminal today.
“They (MYAirline) have to follow the procedure. They must submit applications to Mavcom and CAAM for the latter to deliberate and grant approval. They need to fulfil specific conditions and convince Mavcom that they possess the capital and means to meet their obligations.”
He also highlighted that the discussion primarily involves MYAirline and Mavcom.
Loke clarified that the ministry does not object to MYAirlines being acquired, provided it adheres to the stipulated procedures.
He added that there is no set deadline for the airline company to submit the necessary documents, saying, “It is up to them.”
Last week, it was reported that MYAirline finalised a sale and purchase agreement with a Middle Eastern investor in December, according to sources.
These sources also expressed hope that MYAirline would be able to resume operations by the middle of the year.
However, Loke pointed out that the airline company must still fulfil several conditions, including refunds and staff payments, before it is granted permission to resume operations. – January 19, 2024