Call to give new investors chance to revive Rayani Air

Rayani Air CEO admits its present management is no longer fit to revive the airline.

PETALING JAYA: With the aviation authorities revoking the licence of Rayani Air, its CEO Ravi Alegandrran has appealed for new investors to be allowed to revive it.

“Rayani Air will appeal to the Malaysian Aviation Commission (Mavcom) and the Department of Civil Aviation (DCA) to give a second chance for new investors to revive and manage the airlines,” he said in a press statement.

Earlier today, Mavcom announced it had revoked Rayani Air’s Air Service Licence (ASL) as the airline had breached the conditions of its ASL and lacked the financial and management capacity to continue operating as a commercial airline.

“The revocation came at the peak of our negotiations with investors for the acquisition of equity in Rayani Air, in realisation that the present owners and their management are no longer fit to revive the airline,” Ravi said in the statement.

“The qualified and strong management team of the new investors would revive and manage the airline much better than us.”

Ravi stressed the importance of reviving the troubled airline, noting that it was for the good of its current employees, customers, stakeholders and the local civil aviation industry.

“The revival of Rayani Air is vital to resolve the consequence of its financial illness such as employees’ salaries, ticket refunds and other liabilities,” he said.

Earlier, Mavcom Executive Chairman Abdullah Ahmad said Rayani Air’s case was a “reminder” that operating a scheduled commercial airliner was an “exceedingly challenging undertaking” that required a high degree of planning, financial depth, operational know-how and execution capability.