KUALA LUMPUR - MYAirline Sdn Bhd has suspended its operations effective today until further notice due to significant financial pressures.
In a statement early this morning, the low-cost airline said it has come to this “extremely painful decision” because of financial pressures that have made it necessary to suspend operations pending the shareholder restructuring and recapitalisation of the airline.
“We deeply regret and apologise for having to make this decision as we understand the impact it will have on our loyal passengers, dedicated employees and partners.
“We have worked tirelessly to explore various partnership and capital-raising options to prevent this suspension. Unfortunately, the constraints of time have left us with no alternative but to take this decision,” its board of directors said.
Nevertheless, MYAirline noted that it would be committed to assisting those impacted by the situation and advise the affected passengers to not head to the airport and to seek alternative travel arrangements to their destinations.
“Kindly reach out to us at [email protected], and our support team will be readily available to provide their assistance,” it said.
MYAirline also said the board, shareholders and MYAirline will work tirelessly to resume operations as quickly as possible but at this stage, the airline is unable to commit to any timeline.
“We reiterate our sincerest apologies for any difficulty and inconvenience arising from this suspension and will do our utmost to provide any updates which become available,” it added.
Yesterday, Transport Minister Anthony Loke said MYAirline will need to come to the ministry through the Malaysian Aviation Commission (Mavcom) and present any issues it faces to the commission first before the agency could provide any assistance.
Prior to this, local media reported that the low-cost carrier is believed to be close to securing a new investor, potentially Sarawak Premier Tan Sri Abang Johari Tun Openg’s son, Abang Abdillah Izzarim Abang Abdul Rahman Zohari, due to financial struggles faced by the airline.
This came after the airline’s chief executive officer Rayner Teo tendered his resignation last week, citing health reasons. - Bernama, October 12, 2023
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