How will MYAirline refund 117,000 affected passengers?

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MYAirline to facilitate passenger refunds following investor agreement

MYAirline Sdn Bhd has entered into a sale and purchase agreement with a Middle Eastern investor in late December 2023, which is expected to pave the way for the airline to address outstanding refunds for its 117,000 affected passengers. While the exact timeline and process for the full refund of all passengers remain to be detailed, initial steps are being taken to assist affected individuals. As of January 8, 2023, the Malaysian Aviation Commission (Mavcom) reported that 4,304 consumers had been assisted with refunds through the chargeback process, with some passengers already receiving funds back from their banks.
Passenger refunds facilitated through bank chargebacks

Mavcom has been actively assisting affected consumers in obtaining refunds through the chargeback process with their respective banks. This mechanism allows passengers to dispute transactions and reclaim funds for services not rendered. According to figures provided by Mavcom, by January 8, 2023, a total of 4,304 consumers had successfully utilized this process to secure their refunds. Some passengers have already reported receiving reimbursement from their banks, indicating the chargeback process is yielding results for a portion of those affected.
Mavcom's ongoing role in consumer assistance

The Malaysian Aviation Commission (Mavcom) continues to encourage passengers who have not yet received their refunds to initiate requests with their banks. Mavcom also offers its direct assistance to consumers who require further support in navigating the refund process. The commission's primary focus remains on ensuring that as many affected consumers as possible receive their refunds and that their air travel rights are adequately protected following MYAirline's suspension of operations.
Potential resumption of operations and financial commitments

Sources indicate that with the new investor on board, MYAirline is working towards resuming operations by mid-year. A key priority for the airline, once operational capacity is established, will be the payment of outstanding salaries and the processing of passenger refunds. While the agreement with the Middle Eastern investor provides a pathway forward, the specific financial capacity of this new entity to cover all outstanding debts, including passenger refunds, has not been publicly detailed. The airline is also believed to have applied for a conditional air service licence, a process that typically requires a minimum of 90 days for evaluation by Mavcom.

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How will MYAirline refund 117,000 affected passengers?

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