MYAirline negotiating with 15 potential investors

PETALING JAYA: MYAirline says it is now negotiating with 15 potential investors to resolve its financial problems, which includes securing capital to refund some RM22mil to customers for tickets they had purchased before its abrupt suspension on Oct 12.In a statement yesterday, MYAirline said it is currently at an advanced stage of negotiations with at least two of the potential investors.

“We have received over 15 proposals from potential investors, two of whom are at advanced stages of negotiations.

“The team is working round-the-clock to finalise a recapitalisation package that will revive our operations.

“This will also facilitate the reimbursement of monies to affected passengers as well as payment of salary and statutory dues,” the company said.

MYAirline said it has received over 30,000 calls and emails from affected passengers regarding the delay in their refunds, and assured that the firm will address all complaints received.

The company also pledged to keep affected customers updated on the status of their refunds.

“We aim to make good on all refunds as soon as we receive the recapitalisation package from our investors,” it said.

In regards to the show-cause notices issued by the Civil Aviation Authority of Malaysia (CAAM) and the Malaysian Aviation Commission (Mavcom), MYAirline said it had responded to the two agencies on Oct 25 and 27 respectively, adding that it was done within the deadlines imposed.

At the same time, the budget carrier said it will continue to protect the wellbeing of its employees, adding that it has not terminated any personnel, nor are they placed on unpaid leave.

“We do understand the difficulties faced by our staff and we would like to assure them that we are doing everything in our power to address their plight.

“We would encourage our staff to cooperate with us in this difficult time as we have their best interests at heart.

“Besides an internal ‘Tabung Ihsan’ which was set up to collect donations from within MYAirline for employees most adversely affected, we have also made arrangements with Socso for our employees to apply for the Employee Insurance Scheme to ease their financial burden during this period,” read the statement.

Currently, about 125,000 passengers are awaiting refunds amounting to RM22mil for tickets they purchased, while over 900 of its employees have yet to receive their salaries since September.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Nation

Diesel subsidy: Agriculture sector operators must be registered with GeoAgro, says ministry
Cardiovascular surgery association hopes parallel pathway will be recognised
Many names put forward for Senate president, says Anwar
Zambry: Framework for parallel pathway issue solution sent to AG's Chambers
Papar's Unduk Ngadau queen wows judges with video about hometown
Fire ongoing at Iskandar Puteri paint factory
No grumbling within GRS over admission of Parti Cinta Sabah, says Masidi
Ex-rugby union employee to be tried in court for using 58 forged cheques of over RM2mil
SESB hoping no need for power rationing after IPP shutdown
Johor still attracting strong interest from data centre companies, says exco man

Others Also Read