No indication that MYAirlines had financial issues - CAAM

By SINAR HARIAN REPORTER

17 Oct 2023 09:39am

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PUTRAJAYA - No evidence has yet been found to indicate that MYAirline Sdn Bhd (MYAirline), was having financial issues.

According to Civil Aviation Authority of Malaysia (CAAM), Chief Executive Officer Datuk Norazman Mahmud said all seemed well during a safety assessment of MyAirlines that took place from May 29 to June 1 of last year for the renewal of the airlines Air Operator's Certificate (AOC).

"AOC holders must present CAAM with documentation of their financial stability as part of the safety audit process," he said in a statement.

Norazman said the purpose of this was to ensure that air operations operators have the financial resources to carry out the planned operations.

He added that if financial issues arise, written notification must be given immediately to CAAM to ensure there is no compromise in terms of operational security.

"Until today, MYAirline has not sent any notification to CAAM as stated.

"Therefore MYAirlines AOC has been suspended for 90 days with effect from October 16, 2023," he said.

In the meantime, Norazman said, the action was made in accordance with Regulation 193(3) of the Civil Aviation Regulations 2016 pending further investigation by CAAM.

"Air operations operators receive AOC approval before operating certain aircrafts.

"Among the main aspects that are assessed for the granting and renewal of AOC is the ability of air operations operators to carry out safe operations in accordance with the provisions," he stated.

He said that the temporary suspension of MYAirline's activities, which started last Thursday without giving CAAM prior notice, has caused major worries about both public safety and the integrity of Malaysia's entire civil aviation industry.

"A detailed security audit will be conducted on MYAirline during this temporary suspension to reassess the airline's capabilities," he said.

Norazman added that any violation of regulations by AOC holders will be held accountable within accordance to the Civil Aviation Regulations 2016 and the Civil Aviation Directives (CAD).