Malaysia Airlines reiterates "fair and equitable compensation" to MH370 families

Malaysia Airlines on Wednesday reiterated its commitment of "fair and equitable compensation" to the families of those on board the missing flight MH370.

A families' support group, Voice370, has voiced concern that the incorporation of Malaysia's national flag carrier into a new company and related national law would hinder the compensation claiming process, with the approaching two-year deadline set by the Montreal Convention to file claims.

Malaysia Airlines was privatized by Malaysia's sovereign wealth fund Khazanah and rebranded as Malaysia Airlines Berhad last year.

Mohammad Faiz Azmi, appointed by Khazanah to oversee the restructuring, reiterated in a statement on Wednesday the airlines' "continued commitment to uphold all its obligations to those affected by the MH370 tragedy."

The airlines said it has kept families informed of the two-year limitation period under the Montreal Convention, which in the case of MH370 ends on March 8, 2016, urging those who have yet to file their claims to do so by the deadline.

Malaysia Airlines stressed its commitment as well as its ability to compensate the families.

"Malaysia Airlines remains committed to continue engaging the next-of-kin in good faith with regard to ensuring a fair and equitable compensation," said the statement.

"Malaysia Airlines has insurance coverage in place to meet its obligation to pay compensation to next-of-kin as per its obligations under applicable International Conventions and law," it added.

Flight MH370 disappeared on March 8, 2014, en route from Kuala Lumpur to Beijing with a total of 239 passengers on board, most of them Chinese. Malaysian and French authorities said last year that an aircraft flaperon found on the French Indian Ocean island of La Reunion belonged to the missing plane. Enditem