MYAirline negotiating with 15 potential investors

The Star

Budget carrier MYAirline said on Tuesday (Oct 31) that the company is negotiating with 15 potential investors to resolve its financial issues.  Read more at https://tinyurl.com/4wb2hayb  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

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00:00 "My Airline" said on Tuesday that it's negotiating with 15 potential investors to

00:09 resolve its financial issues.

00:11 The airline company said the negotiations are at the advanced stage with at least two

00:16 potential investors.

00:19 They said they are finalising a recapitalisation package to revise their operations and facilitate

00:25 the reimbursement of monies to affected passengers.

00:30 They said the recapitalisation package will also allow them to pay their employees'

00:34 salary and statutory dues.

00:38 They said they had not terminated the services of any staff or they had not placed the staff

00:42 on unpaid leave.

00:45 My Airline said they had also made arrangements with Soxo for their staff to apply for the

00:49 employee insurance scheme to ease their financial burden.

00:54 They said they have received more than 30,000 calls and emails from affected passengers

00:59 regarding the delay in their refunds but they will address all the complaints.

01:04 On the show-cause notices issued by the Civil Aviation Authority Malaysia and Malaysian

01:08 Aviation Commission, My Airline said they responded to the two agencies on October 25th

01:14 and October 27th, respectively, before the deadlines.

01:19 On October 12th, My Airline announced an abrupt suspension of its operations, citing financial

01:24 pressure, less than a year after it began operation.

01:27 -

01:33 [BLANK_AUDIO]

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