According to Transport Minister Anthony Loke, who made the announcement in Parliament today, customers of MYAirline who purchased their tickets online have the option to have their financial institutions start chargebacks in order to recoup the money paid to the suspended low-cost carrier.

The minister stated that this was based on Bank Negara Malaysia's (BNM) confirmation of the issue.

During his final speech on the Supply Bill 2024 debate today, Loke informed the Parliament, "BNM has confirmed that for passengers who have purchased tickets via credit card, debit card, and direct debit (FPX) can claim refund through the chargeback process if their travel date has passed by contacting MYAirline or the bank themselves."

When customers file a chargeback, their bank or other financial institution requests the money that was paid to merchants for transactions that they believe to be fraudulent, disputed, or mistaken.

On October 12, MYAirline abruptly stopped operating, citing financial difficulties, leaving thousands of travellers stranded.

The low-cost airline announced on October 16 that passenger refunds might total up to an estimated RM22 million, although payments would only be made in the event that it attracted new investors.

Malaysia Airports Holdings Bhd (MAHB) reported the same day that 39 flights operating local destinations and one international route to Don Mueang Airport in Bangkok, Thailand had affected 5,000 passengers since yesterday.

The Malaysian Aviation Commission (Mavcom) declared yesterday that MYAirline's Air Service Licence (ASL) has been suspended.

Mavcom further stated that notwithstanding the suspension of its ASL, MYAirline was still required by the Malaysian Aviation Consumer Protection Code 2016 (MACPC) to reimburse its impacted passengers.

It stated that more than 117,000 passengers are anticipated to be impacted by MYAirline's operations suspension, with forward sales for scheduled flights from October 12, 2023, to March 31, 2024, valued at more than RM22 million.

Travel agencies account for 58% (RM12.8 million) of the commission's reported forward sales, with credit or debit card payments accounting for 41.8% (RM9.2 million) of the total.