KUALA LUMPUR – Ailing low-cost carrier, MYAirline, announced the suspension of its operations effective today, until further notice.
In a statement today, the fledgling company stated that it had come to this “extremely painful decision” due to significant financial pressures, which made it necessary to suspend operations pending the shareholder restructuring and recapitalisation of the airline.
“We deeply regret and apologise for having to make this decision, as we understand the impact it will have on our loyal passengers, dedicated employees, and partners.
“We have worked tirelessly to explore various partnership and capital raising options to prevent this suspension.
“Unfortunately, the constraints of time have left us with no alternative but to take this decision.
“We understand the inconvenience this may cause, and we are committed to assisting you through this situation.
“Kindly reach out to us via email at [email protected], and our support team will be readily available to provide their assistance.
“In the meantime, we are advising affected passengers to not head to the airport and seek alternative travel arrangements to their destinations,” the airlines’ board of directors said.
MYAirline further stated that its board, shareholders, and staff will be working tirelessly to resume operations as quickly as possible but will be unable to commit to any timeline thus far.
“We reiterate our sincerest apologies for any difficulty and inconvenience arising from this suspension and will do our utmost to provide any updates that become available.”
Yesterday, Transport Minister Anthony Loke Siew Fook advised MYAirline to reach out to the Malaysian Aviation Commission if it was facing financial difficulties.
Loke stated that his team is prepared to assist the company but has not yet received any information or reports.
His remarks were in response to rumours of MYAirline’s financial woes as well as speculations that arose following the resignation of MYAirline’s chief executive officer, Rayner Teo, last Saturday, along with several key management personnel, including the chief financial officer and chief commercial officer.
However, the company cited “health reasons” as the cause of Teo’s resignation. – October 12, 2023