PETALING JAYA: Rayani Air will appeal to Malaysia's airline authorities for a "second chance" for a new investor to revive the airline, said its owner Ravi Alegandrran.
Ravi's plea comes after the Malaysian Aviation Commission (Mavcom) and Department of Civil Aviation (DCA) revoked the airline's Air Service Licence and Air Operator's Certificate, effective Monday.
The commission said it found Rayani Air had breached the conditions of its licence and it also lacks the financial and management capacity to continue operating as a commercial airline.
"The revocations came at the peak of our negotiations with investors for the acquisition of equity in Rayani Air in realization that the present owners and their management are no longer fit to revive the airline," said Ravi in a statement on Monday.
He said the "qualified and strong management team" of its new investors would revive and manage the airline "much better than us".
Ravi said the revival of the airline is "vital" in resolving the impacts from its "financial illness", such as employees' salaries, ticket refunds and other liabilities.
"To this end, Rayani Air Sdn Bhd will appeal to the Mavcom and the DCA to give the second chance for new investor to revive and manage the airline," he said.