Following the decision by the authorities today to revoke Rayani Air's Air Service Licence (ASL) and Air Operator Certificate (AOC), Rayani Air Sdn Bhd said it will submit an appeal to the Malaysian Aviation Commission (MAVCOM) and the Department of Civil Aviation (DCA).

Rayani Air owner and Chief Executive Officer (CEO) Ravi Alegandrran said the company will appeal for a second chance for new investors to revive and manage the airline.

"The revocations came at the peak of our negotiations with investors for the acquisition of equity in Rayani Air in realization that the present owners and their management are no longer fit to revive the airline.

"The qualified and strong management team of the new investors would revive and manage the airline much better than us," he said in a statement.

Ravi said the revival of Rayani Air is vital in resolving the impacts from its financial illness which had become the nation’s socio-economic issues such as employees’ salaries, ticket refunds and other liabilities.

The revival, he added, is for the benefits of the employees, travelling public, stakeholders and the Malaysian civil aviation industry.

Earlier today, DCA director-general Datuk Azharuddin Abdul Rahman said the decision was made after a full investigation into the administration and safety audit of the airline’s state of operations.

He said the airline has been given an opportunity to make a representation during an inquiry on May 12.

"Pursuant to Regulation 193 of the Civil Aviation Regulation 2016, Rayani Air's AOC number 54 is hereby revoked after a thorough deliberation on Rayani Air’s response towards the inquiry," Azharuddin said in the statement.