MYAirline confirms Middle Eastern investor pull out, in talks with new ones

KUALA LUMPUR: In a series of plot twists that never seem to end, MYAirline Sdn Bhd says it is talking to another new potential investors following the pullout of a Middle Eastern investor.

This confirmed Business Times' report earlier today that its potential Middle Eastern investor had decided not to pursue its interest any longer in the carrier. 

MYAirline said the other potential investors had expressed interest in reviving it.

The carrier is also in constant contact with all local aviation regulators to regain its licences and resume operations. 

"MYAirline announces that it is in talks with promising new investors after a sudden and unilateral termination of a share purchase agreement by an investor from the Middle East." 

"In respect of this termination, all options are being considered including possible legal action," MYAirline said in a statement today. 

MYAirline's deal to secure new investors since the abrupt suspension of its operations from Oct 12, 2023 has failed wice. 

The flight suspension happened following the fallout of an agreement from a local investor at the 11th hour to buy the airline and take over its operations. 

In January this year, Business Times reported that MYAirline was inching closer to a new life as it found a new investor believed to be based in the Middle East. 

The carrier's reply at that time was it could not comment on the new investor, fleet and future plans when contacted by Business Times.

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