The low-cost airline announced it was temporarily suspending all operations effective today, October 12, 2023.
It appears there was some hard truth behind the flurry of recent rumours swirling around MYAirline, after all. Malaysia’s newest start-up airline began operations less than a year ago, but reports of financial distress began circulating in recent days. Evidently, those rumours were grounded in facts.
As announced just this morning, low-cost carrier MYAirline will temporarily suspend its operations effective today, October 12, 2023, due to substantial financial pressures while undergoing shareholder restructuring and recapitalization efforts.
The airline’s board of directors had expressed their commitment to explore partnerships and raise capital to avert this suspension. Nevertheless, due to time constraints, they have been left with no alternative but to make this difficult decision.
The board, in conjunction with MYAirline’s shareholders, is dedicated to swiftly resuming operations, although they cannot specify a timeline at this point. The airline announced that it deeply regrets any inconvenience stemming from this suspension and is committed to offering updates as they become available.
The suspension of operations comes just two days after founding CEO Rayner Teo announced his resignation, citing health issues.
Teo, a former AirAsia executive, headed the Kuala Lumpur-based low-cost carrier since its inception and through its launch in December 2022. The airline is currently under the guidance of operations chief Stuart Cross, who is stepping in as interim CEO.
Earlier this week, MYAirline said it was in the final stage of discussions to secure new “strategic partnerships” for future growth. The airline had also just received a two-year extension of its air operator’s certificate, which was issued on October 9.
In response to the announcement, the Malaysian Aviation Commission (MAVCOM) has established a dedicated hotline and communication channels to assist affected customers.
MYAirline remains responsible for refunding customers who have purchased tickets but are now unable to travel. Additionally, MAVCOM has instructed MYAirline to take immediate steps to manage affected customers, which include notifying them of the suspension and disseminating this information through the airline’s communication channels.
MAVCOM is actively liaising with MYAirline to address the situation and is conducting an internal review and addressing complaints regarding unpaid statutory payments to the airline’s employees, among other issues. The commission will provide further updates regarding MYAirline’s operations in due course.
For customers with bookings on or after October 12, 2023, MAVCOM encourages them to contact the airline’s dedicated complaint channel for inquiries and assistance at [email protected]. Affected consumers can also reach out to MAVCOM through their dedicated channels:
Cconsumer hotline: +1800-18-6966 (Within Malaysia) or +603-7651 2777 (Outside Malaysia)
E-mail: [email protected]
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