Information about the extension of the agreement between Malaysia and search company Ocean Infinity to search for MH370 - the missing Malaysia Airlines plane - in the southern Indian Ocean was revealed by Transport Minister Anthony Loke Siew Fook on June 29, Xinhua News Agency reported.
The Malaysian Cabinet has approved the extension of the MH370 search contract from June 26, with the extended agreement effective from July 1, 2026 to June 30, 2027, Mr. Loke said.
This extension maintains all the main terms and conditions of the existing agreement, including the application of the principle of "not found, no fee". According to the agreement, the government will not pay any money to Ocean Infinity if the plane wreckage is not found" - Malaysian Transport Minister emphasized.
He added that the Malaysian government will pay the search company 70 million USD if the MH370 plane wreckage is found.
Mr. Loke pointed out that the extension of the search contract will help Ocean Infinity complete the search in the remaining search area of 7,428.54 km2.
The disappearance of MH370 is one of the biggest mysteries in modern aviation history, occurring on March 8, 2014. The plane went missing while en route from Kuala Lumpur to Beijing, China, with 239 people on board.
