The research house explained that FAA conducted a surprise audit on Civil Aviation Authority Malaysia (CAAM) in April 2019 and concluded that there are enough reasons to downgrade the country rating to Category 2.
KUALA LUMPUR: Maybank Investment Bank Research is maintaining its negative outlook on the aviation sector after the US Federal Aviation Administration (FAA) downgraded Malaysia to Category 2 on safety concerns.
The research house said on Tuesday the immediate impact is Malaysia’s carriers cannot open new routes to the US and existing flights can continue but will be closely monitored.
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