Rayani Air Sdn Bhd will appeal to the Malaysian Aviation Commission (Mavcom) and the Department of Civil Aviation (DCA) that it be given a second chance for a new investor to revive and manage the airline.

Its owner and chief executive officer Ravi Alagendrran in a statement on his Facebook confirmed Rayani's air operator's certificate was revoked by Mavcom and DCA today.

“The revocations came at the peak of our negotiations with investors for the acquisition of equity in Rayani Air in realisation 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,” said Ravi.

He added Rayani Air's revival was vital to resolve the impact of its “financial illness” for the benefit of its employees, customers, stakeholders and the country's civil aviation industry.

“To this end, Rayani Air Sdn Bhd will appeal to the commission and the DCA to give a second chance for the new investor to revive and manage the airline,” said Ravi.

Rayani Air’s air service licence (ASL) was revoked after Mavcom found the syariah compliant airline had breached the conditions of its ASL and lacked the financial and management capacity to continue operating as a commercial carrier.

“As a consequence, Rayani Air can no longer operate as a commercial airline with effect from today,” the commission said in a statement.