Malaysia Plans New Search for MH370 at $104M

The Malaysian government is in advanced negotiations with the US-based marine exploration company Ocean Infinity to relaunch the search for Malaysia Airlines flight MH370, which disappeared on March 8, 2014, with 239 people on board. Ocean Infinity has proposed a new search in a 15,000 square kilometer area in the southern Indian Ocean, near the last known location of the plane, under a 'no find, no fee' arrangement, meaning they would only be paid if the wreckage is found. Transport Minister Anthony Loke has indicated that the proposal is credible based on the latest expert analysis and, if approved, the search could begin shortly and last about three months. The mission is estimated to cost up to $104 million, but the Malaysian government would not incur costs unless the search is successful. Previous search efforts, which have covered over 200,000 square kilometers, were called off in 2017 after failing to locate the aircraft. The proposal still awaits cabinet approval before the search can officially resume.