LOW-cost carrier MYAirline, which suspended services last week, would have its operating licence suspended, Transport Minister Anthony Loke said.

Airlines typically require two licences to operate – an air service licence and an air operator certificate.

Loke did not specify which of these licences would be suspended.

He said MYAirline would hold a press conference today, and the Civil Aviation Authority of Malaysia would issue a statement about the carrier.

Earlier, New Straits Times reported MYAirline interim chief executive officer Stuart Cross had resigned and aircraft lessors had recalled their planes from the carrier.

The report said the company was being managed by its interim accountable executive Azharuddin Abdul Rahman.

The daily, quoting sources, reported that the aircraft lessors have asked the airline to return the nine Airbus A320s that made up its fleet.

The lessors were Aviation Capital Group LLC, AerCap Holdings NV, Aircastle Ltd, Avolon, Carlyle Aviation Partners, Genesis, Mizuho and SMBC Aviation Capital.

MYAirline reported in May it had secured agreements with these lessors for 17 aircraft valued at RM2.1 billion.

The company’s troubles emerged with the resignation of CEO Rayner Teo, followed by the suspension of its services.

The budget airline took its first flight on December 1, 2022, and has been bleeding money over the less than one year it was operating.

The daily reported it was unclear if MYAirline had applied for a renewal of its air service licence. – October 16, 2023.