PETALING JAYA:Suspended Rayani Air is unlikely to take to the skies again, reported business daily The Malaysian Reserve today.

This is because the Shariah-compliant airline has missed a deadline to set its financials in order, the report said.

Quoting industry sources, the report noted the airline has still not found a new investor nor has it proven to the Department of Civil Aviation (DCA) that it has a sound business structure to reclaim its suspended Air Operating Certificate (AOC).

“The airline had racked up massive backlog of unpaid salaries, payments to suppliers and lease payments that would be impossible to overcome without a fresh injection of capital from a new investor,” the report quoted the source as saying.

The owners of Rayani Air have also failed to prove any investors’ commitments in two meetings with the DCA.

“The deadline is over and the AOC is unlikely to be renewed,” said the report.  The airline’s co-owner and CEO Ravi Alagendran declined comment when contacted by the business daily.

The Langkawi-based airline was suspended for three months beginning April 11, just months after it had started operations.

This was after the airline halted its operations following a pilot strike, without seeking DCA’s permission.