KUALA LUMPUR, Jan 4 — Malaysia will not have to pay any fees to the latest company on a hunt for Malaysia Airlines flight MH370 if nothing is found, Datuk Seri Liow Tiong Lai last night.
The transport minister announced that the Cabinet has already approved to continue negotiations with exploration firm Ocean Infinity that sent a high-tech vessel yesterday hoping to crack one of aviation’s greatest mysteries.
“We are now in the negotiation’s last phase, with the contract set to be finalised sometime next week, after which I will make a detailed announcement,” he said after a meeting between Barisan Nasional’s top leaders with Prime Minister Datuk Seri Najib Razak here.
Liow said the announcement is important as the agreement is based on the “no find, no fee” concept.
“Unless the company manages to successfully locate and identify the flight’s location and remains, they will not charge us the finding fee,” he said.
The Malaysia Airlines jet disappeared in March 2014 with 239 people ― mostly from China ― on board en route from Kuala Lumpur to Beijing after diverting from its flight path.
Ocean Infinity is leasing Norwegian research vessel Seabed Constructor that set off from South Africa and was aiming to arrive in the search area by mid-January.
The vessel is carrying several autonomous submarines which can be launched from the ship to scour the seabed for the jet.