KUALA LUMPUR, Nov 6 — Financially troubled MYAirline has lost its entire fleet of 10 Airbus planes less than a month after suspending its operations, Business Times reported today, raising doubts over the budget carrier’s ability to fly again in future.

Five of the 10 Airbus A320 were deregistered at the request of the lessors, the newspaper reported, citing the Civil Aviation Authority of Malaysia (CAAM).

Another five have been leased out to budget giant AirAsia.

“The market is hot right now for narrow body aeroplanes like the A320. The backlog orders from (aircraft) manufacturers and the supply chain issues affecting (aircraft) production makes airlines thirstier for more planes.


“They (airlines) are competing with each other for planes. The cost of renting (commercial) airplanes has also gone up, especially the ‘hot’ ones like the narrow-bodies. It is more expensive to lease today compared to a few years ago,” an unnamed industry insider was quoted as telling the business newspaper.

Business Times named MYAirline eight lessors as SMBC Aviation Capital, AerCap Holdings NV, Avolon, Carlyle Aviation Partners, Genesis, and Aircastle Ltd.

MYAirline announced an indefinite suspension of all its operations with immediate effect on October 12, stranding thousands of its domestic and regional customers.


It cited financial constraints as the reason.

CAAM also suspended MYAirline's air operator certificate on October 16, for 90 days.

The airlines’ co-founder Datuk Allan Goh Hwan Hua and his family were arrested by police at their home in Shah Alam, Selangor on October 17 on suspicion of involvement in money laundering offences.

All three have since been released on police bail.