Malaysia May Resume Search For Missing Flight MH370 After A Decade After Texas-Based Company Offers 'No Find, No Fee'

In a recent development, Malaysia’s Ministry of Transport has hinted at the possibility of resuming the search for the missing Malaysia Airlines Flight 370 (MH370), a decade after the aircraft mysteriously disappeared.

What Happened: The Ministry of Transport announced on Sunday that Ocean Infinity, a Texas-based company, might be given the green light to restart the search for MH370. This announcement comes as the 10th anniversary of the flight’s disappearance looms, reported The Hill.

Ocean Infinity has suggested a new “no find, no fee” search of the seabeds in the southern Indian Ocean, five years after the company ended its private search for the aircraft’s remains. The Boeing 777 plane disappeared from radar shortly after taking off from Kuala Lumpur on March 8, 2014, with 239 people on board.

Transport Minister Anthony Loke stated that if credible evidence is presented, he will do “everything possible” to secure the Cabinet’s approval for a new contract with Ocean Infinity. The company has been invited to meet when they are “ready to come” to Malaysia.

The official search for the aircraft remains was called off by the Malaysian and Chinese governments in 2017, after failing to find any leads. Ocean Infinity’s private search also yielded no results.

Loke did not disclose the fee that would be paid to Ocean Infinity if the proposed search is successful. However, their 2018 agreement involved a $70 million fee if remains were found.

See Also: Tesla CEO Elon Musk Reveals One Of His Daily Dilemmas: Cybertruck Or Model S?

Why It Matters: The disappearance of MH370 has been a mystery that has baffled investigators for a decade. The plane, carrying 227 passengers and 12 crew members, vanished on a routine journey from Kuala Lumpur to Beijing in March 2014.

Despite exhaustive search efforts, the mystery of the aircraft’s disappearance remained unsolved. Interest in the search was reignited following the release of the Netflix docuseries “MH370: The Plane That Disappeared” on March 8 last year, marking the ninth anniversary of the plane’s vanishing. The series endeavored to uncover the enigma surrounding the missing flight.

Photo Courtesy: Shutterstock.com

Check out more of Benzinga's Future Of Mobility coverage by following this link.

Read Next: After Porsche, Ford Reportedly Buys A Cybertruck For A Huge Premium; Tesla CEO Elon Musk Thinks It’s ‘Worth It’


Engineered by Benzinga Neuro, Edited by Shivdeep Dhaliwal


The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.


Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In:
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!