United States firm to get $70m if it finds MH370

US company begins second search for lost Malaysian Airlines flight MH-370 Video

US company begins second search for lost Malaysian Airlines flight MH-370 Video

Malaysia has said it will pay United States company Ocean Infinity up to 70 million dollars if it can find the wreckage or black boxes of Malaysia Airlines Flight 370 within three months.

The Malaysian Airlines 370 flight disappeared on March 8th 2014 during a routine flight from Kuala Lumpur to Beijing.

The two parties sealed the "no cure, no fee" deal wherein the USA firm will scour a new search area covering 25,000 square kilometers in the southern Indian Ocean beginning mid-January.

This new move will obviously once more raise the hopes of the family and friends of the 239 people board the Malaysian airliner. "Last time the search teams could not use that many underwater sensors", Pattiaratchi said.

It is where debris is likely to have drifted in the two weeks after MH370 was lost if the aircraft had hit the water close to the seventh arc around latitude 35°S.

Other items include memory from avionics and personal electronic devices and specific parts of the aircraft structure.

The Australian-led search mission was suspended in January a year ago after investigators finished scouring a 120,000 sq km search area determined via a satellite analysis of the plane's trajectory.

The 90-day search will begin on January 17, said Ocean Infinity Chief Executive Oliver Plunkett told Reuters. The fee will be $70 million if it finds the missing plane beyond the 25,000 square kilometer area.

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According to a "no-find, no-fee" contract awarded to the seabed exploration firm, Ocean Infinity, the latter will receive up to 70 million dollars if successful.

The search will focus on an area of the Indian Ocean identified by the Australian Transport Safety Bureau north of the previously searched area.

A next-of-kin, Shin Kok Chau who was present today thanked the Malaysian government for not losing hope of finding the missing jet.

Tracking data released by the Malaysian authorities appeared to confirm that the plane crashed in the Indian Ocean, south-west of Australia. The ship is equipped with eight autonomous drones that have sonars and cameras installed.

The disappearance of Flight 370, a Boeing 777 that had 239 people overseas when it vanished in March 2014, is one of aviation's greatest mysteries.

The massive operation covered 120,000 sq km (46,332 sq miles) at an estimated cost of about A$200m (£120m; €133m), before it was suspended in January 2017 after 1,046 days.

In 2016, Pattiaratchi modelled the possible path of debris based on ocean currents and predictions of where it is believed the plane went down.

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