Transport Minister Anthony Loke disclosed that the Transport Ministry recently held discussions with potential investors of MYAirline Sdn Bhd and emphasized that any business decisions ultimately lie with the airline’s management.
Loke stressed that the government expects MYAirline to adhere to all necessary procedures in seeking regulatory approvals from the Malaysian Aviation Commission (Mavcom) and the Civil Aviation Authority of Malaysia (CAAM).
He added, “Their applications must be submitted according to procedure for technical approvals. However, at this point in time, we have not heard of any application from them yet.” He made these remarks after seeing off passengers boarding a Batik Air flight to Sibu from KL International Airport on Wednesday (Feb 7).
Loke also highlighted that MYAirline is required to maintain a local majority ownership of 51%, with foreign entities permitted to own a maximum of 49%, in line with the country’s aviation policy.
On Jan 12, it was revealed that MYAirline had entered into a sales and purchase agreement with a Middle Eastern investor back in December 2023. This development would enable MYAirline to prepare for a potential relaunch of operations by the middle of the current year.
As a recap, MYAirline achieved the milestone of flying over one million passengers domestically by June 26, 2023, just a few months after commencing its operations as a low-cost carrier in Malaysia.
The airline had an impressive average load factor of 91% and utilized eight Airbus A320-200 aircraft until Oct 12, achieving a commendable on-time performance of over 90%.
However, MYAirline’s operations were suddenly suspended on Oct 12 last year due to financial pressures, as officially cited by the airline. – Bernama
