SKS Airways, a Malaysian start-up airline, is facing a severe funding crisis that has led to the resignation of its CEO, Dzuleira Abu Bakar. The airline has been struggling to secure funding since its launch in 2022, and the recent economic downturn has further exacerbated its financial difficulties. Abu Bakar's resignation comes as a major blow to SKS Airways, which has already been forced to delay its launch plans and cancel several routes. The airline is now reportedly in talks with potential investors, but it is unclear whether it will be able to secure the funding it needs to stay afloat.
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The funding crisis at SKS Airways is a symptom of the broader challenges facing Malaysia's aviation industry. The industry has been hit hard by the COVID-19 pandemic, and the rising cost of fuel has put further pressure on airlines. As a result, several airlines in Malaysia have been forced to cut routes and reduce their workforce. A few weeks earlier, another Malaysia start-up, MYAirlines was forced to cease operations due to a lack of funds.
The situation at SKS Airways is a reminder of the risks involved in starting an airline. The industry is highly competitive, and it is difficult to succeed without strong financial backing. SKS Airways will need to find a way to secure funding quickly if it wants to avoid going out of business.
In addition to the funding crisis, SKS Airways is also facing regulatory challenges. The airline has been criticized for its lack of transparency and for its failure to meet certain licensing requirements. The Malaysian Aviation Commission (MAVCOM) has been investigating SKS Airways, and it is possible that the airline could be fined or even have its license revoked. The future of SKS Airways is uncertain. The airline is facing several challenges, and it is unclear whether it will be able to overcome them. The resignation of its CEO is a major setback, and the airline will need to find a new leader who can steer it through this difficult period.
