MYAirline continues to retain nominated post holders, seek multiple investors

KUALA LUMPUR: MYAirline Sdn Bhd will continue to retain its nominated post holders as well as key personnel while ensuring that its air operator’s certificate (AOC) documentation remains as current as possible.

This preparation was in anticipation of new licensing applications, assuring that the carrier would resume operations, said MYAirline’s interim accountable executive Datuk Seri Azharuddin Abdul Rahman.

“Hence, it is not the end for MYAirline, and we are still working tirelessly to secure investors,” he said.

Azharuddin noted that MYAirline was still in talks with several interested investors and hoped to conclude an agreement in the near future.

“We are looking at multiple investors this time, instead of single investors, both from local and overseas investors,” he explained.

He said the carrier did submit an application to the Malaysian Aviation Commission (MAVCOM) for a conditional air service licence (ASL), but unfortunately the potential investor had backed off.

“Never giving up, once we have secured the investors, MYAirline will apply for a new ASL from MAVCOM and a new AOC from Civil Aviation Authority of Malaysia (CAAM),” he said.

On Jan 12, Bernama reported that MYAirline had secured an investor from the Middle East, with a source expressing confidence that the carrier could work towards resuming operations by the middle of this year.

Meanwhile, on April 24, The Edge Malaysia reported that CAAM had revoked MYAirline’s AOC, effective April 15, after the carrier failed to find a new investor before the April 14 deadline.

However, according to CAAM chief executive officer Datuk Capt Norazman Mahmud, it was keeping the required postholders for reapplication.

Responding to the report, Azharuddin confirmed that CAAM revoked the carrier’s AOC on April 15, which was previously suspended.

“MYAirline did not apply to CAAM for any extensions of the AOC suspension as no agreements have been signed with any investors,” he added.

To recap, MYAirline flew over one million passengers domestically on June 26 last year, a few months after its inaugural flight as a low-cost carrier in Malaysia.

“Many people wanted MYAirline to make a comeback and it is a matter of time until we secure the investors,” he said.

The airline had an average load factor of 91 per cent and flew eight Airbus A320-200 till Oct 12, delivering a healthy ontime performance beyond 90 per cent.

On Oct 12, MYAirline made a sudden announcement that it had suspended its operations effective on the same day, citing financial pressure as the reason.