MYAirline suspends operations, says due to 'significant financial pressures'

The Star

MYAirline has suspended its operations effective Thursday (Oct 12) until further notice.  The airline said it made the decision because of significant financial pressures.  Read more at https://tinyurl.com/48e56eh3  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

Transcript

00:00 Malaysia's second low-cost carrier, MyAirline, has suspended its operations effective Thursday,

00:09 October 12, until further notice.

00:12 In a Facebook post, the airline said it made the decision due to significant financial

00:16 pressures and the suspension was necessary pending shareholder restructuring and recapitalisation.

00:24 MyAirline's board of directors said it regrets the decision and apologises for the impact

00:30 it will have on its passengers, employees and partners.

00:34 Meanwhile, the Malaysian Aviation Commission, MAFCOM, said it has put in place dedicated

00:39 hotlines and channels to assist consumers affected by the sudden suspension.

00:45 The commission also said MyAirline is still liable to refund consumers who have purchased

00:50 tickets from the airline but are unable to travel.

00:55 On Wednesday, Transport Minister Anthony Lok said MyAirline should come forward if it was

01:00 in need of assistance.

01:02 So far they have to come to us first.

01:06 We will look at what are the problems in terms of facilitation, that is the licensing, that

01:10 is some of the facilitation in terms of regulatory support.

01:16 Then we are trying to facilitate, to give them a bit of room, but they have to come

01:21 to us to tell us what are their problems.

01:25 So I think they will speak to MAFCOM.

01:30 MyAirline was founded in 2021 and launched its first flight in December 2022 using an

01:36 Olys Airbus A320 narrow-body fleet.

01:41 According to GSC CIMB research, the carrier had only 9% market share of domestic Malaysia

01:46 seat capacity at its peak in August 2023.

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