MH370: Firm offers ‘no find, no fee’ deal to resume search for Malaysia Airlines plane

Malaysia's government will discuss the options with Australia and China

A member of the Japanese coastguard surveys the Indian Ocean in search that was called off in January (Getty)

On the day Malaysia Airlines learned it is losing its chief executive, the nation’s transport minister has said three firms are bidding to continue the search for the ill-fated flight MH370 – with one company offering a “no find, no fee” deal.

The Boeing 777 with 239 people aboard went missing in March 2014 on a flight to Beijing from Kuala Lumpur.

A two-year search of the southern Indian Ocean, coordinated by the Australian Transport Safety Bureau (ATSB), was called off in January.

But in August, another Australian organisation claimed to have pinpointed the crash site “with unprecedented precision and certainty”.

Speaking to journalists in Kuala Lumpur, the Malaysian Transport Minister, Liow Tiong Lai, said a proposal had been received from the US seabed exploration company Ocean Infinity. It specified payment only if the aircraft was found.

Dutch firm Fugro, which was involved in the original search and an unidentified Malaysian company, has also bid for resuming the search.

Deep mystery: The Fugro Equator, a vessel used in the search for MH370 (Fugro)

“We won’t be deciding anything now on whether we are embarking on a new search or not,” said Mr Liow.

The Malaysian government will discuss the options with Australia and China, many of whose citizens were aboard the lost aircraft.

Malaysia Airlines is searching for a new chief executive after the incumbent, Peter Bellew, revealed he has been lured back by Ryanair to his former role as chief operations officer for the airline.