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<h2>Troubled <a href="https://says.com/my/stories/tagged/MYAirline" target="_blank" rel="noopener">MYAirline</a> is said to have finalised a sale and purchase agreement (SPA) with an undisclosed investor from the Middle East</h2>
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<p>Bernama <a target="_blank" rel="nofollow noopener" href="https://www.bernama.com/en/news.php?id=2261741">reported</a> today, 12 January, that the low-cost carrier had signed and secured the agreement in late December last year, citing unnamed sources.</p>
<p>While the sources did not reveal the investor&#8217;s name, they hoped that this would enable the airline to work towards resuming operations by the middle of this year.</p>
<p>&#8220;The first action item, hopefully, is the payment of salaries and refunding passengers,&#8221; one of the sources was quoted as saying by Bernama.</p>
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<h2>The start-up carrier, which <a href="https://says.com/my/news/myairline-suspends-operations-effective-today-12-october" target="_blank" rel="noopener">ceased operations</a> after just 10 months, is said to have submitted an application to the Malaysian Aviation Commission (MAVCOM) for a conditional air service license (ASL)</h2>
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<p>An application for an ASL usually requires a minimum of 90 days to process.</p>
<p>Subsequently, the airline aims to obtain the Air Operator Certificate (AOC) from the Civil Aviation Authority of Malaysia (CAAM) before securing a full ASL to resume operations, reported Bernama.</p>
<p>MAVCOM said the evaluation process for the ASL application would commence upon receiving a complete submission.</p>
<p>&#8220;They have to clear the debt as soon as possible to start operating like before,&#8221; another source told Bernama.</p>
<p>According to Civil Aviation Directives 6004, scheduled operations typically require a fleet of a minimum of two aircraft, while non-scheduled operations may have reduced specifications.</p>
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<h2>MYAirline first needs to clear overdue salary payments for about 900 employees and refund a whopping 117,000 passengers</h2>
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<p>According to MAVCOM, as of 8 January, 4,304 consumers have been assisted with refunds through the chargeback process, and some have begun receiving refunds from their respective banks.</p>
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<p>                <small class="img-credit">Image via <a target="_blank" href="https://www.freemalaysiatoday.com/category/nation/2024/01/12/loke-to-meet-myairline-after-carrier-reportedly-secures-middle-east-investor/" rel="noopener">FMT</a></small>
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<h2>Meanwhile, Transport Minister Loke Siew Fook said he plans to meet with the troubled low-cost carrier to discuss its future</h2>
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<p><p>Loke expressed cautious optimism about the airline&#8217;s potential revival but outlined specific conditions that must be met for discussions to proceed, <a target="_blank" rel="nofollow noopener" href="https://www.freemalaysiatoday.com/category/nation/2024/01/12/loke-to-meet-myairline-after-carrier-reportedly-secures-middle-east-investor/">reported</a> FMT.</p>
<p>&#8220;There are a few conditions that will be imposed if they want to restart operations. They must make sure all their passengers are refunded and they must make sure whatever [is owed] to their staff must be paid.﻿</p>
<p>&#8220;If they can fulfil these two conditions, only then can we start to talk,&#8221; he was quoted as saying.</p>
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<h2>In November last year, the airline&#8217;s interim accountable executive spoke at length about the issues faced by MYAirline and efforts  to resolve them:</h2>
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Troubled MYAirline May Resume Operations By The Middle Of This Year