MYAirline in advanced negotiations with two potential investors

31 Oct 2023 08:24pm
MYAirline suspended its operations on Oct 12, 2023, due to financial constraints - FILE PIX
MYAirline suspended its operations on Oct 12, 2023, due to financial constraints - FILE PIX
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KUALA LUMPUR - MYAirline Sdn Bhd today said that it has received over 15 proposals from potential investors, two of whom are in the advanced stages of negotiations.

In a statement today, the airline said it is working around the clock to finalise a recapitalisation package to revive its operations.

"This will also facilitate the reimbursement of monies to affected passengers as well as payment of salary and statutory dues,” it said in a statement today.

The low-cost airline also reiterated that it has not terminated or placed any staff on unpaid leave since Oct 12, 2023, until to date.

"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 encourage our staff to cooperate with us in this difficult time as we have their best interests at heart,” it added.

MYAirline suspended its operations on Oct 12, 2023, due to financial constraints.

The airline said that besides establishing an internal "Tabung Ihsan” to collect donations from within MYAirline for employees most adversely affected, MYAirline has also made arrangements with the Social Security Organisation (Perkeso) for its employees to apply for the Employee Insurance Scheme (EIS) to ease their financial burden during this period.

Regarding refunds for affected passengers, MYAirline said it has received over 30,000 calls and emails, which are being attended to by its customer care team.

The airline said that it aimed to make good on all refunds as soon as it received the recapitalisation package from its investors.
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"We will continue to update our valued passengers and related stakeholders once they are made available,” it added - BERNAMA