PREVIOUS SEARCH
In December, Loke had said the new search would be on the same “no find, no fee” principle as Ocean Infinity’s previous search, with the government only paying out if it finds the aircraft.
The contract was for 18 months and Malaysia would pay US$70 million to the company if the plane was found, Loke previously had said.
Ocean Infinity, based in Britain and the United States, carried out an unsuccessful hunt in 2018.
The company’s first efforts followed a massive Australia-led search for the aircraft that lasted three years before it was suspended in January 2017.
The Australia-led search covered 120,000 sq km in the Indian Ocean but found hardly any trace of the plane, with only some pieces of debris picked up.
In December, Loke said a new 15,000 sq km area of the southern Indian Ocean would be scoured by Ocean Infinity.
“They combined all the data and they felt confident that the current search area is more credible,” said Loke on Tuesday.
“They (Ocean Infinity) have convinced us that they are ready.”
The plane’s disappearance has long been the subject of theories – ranging from the credible to outlandish – including that veteran pilot Zaharie Ahmad Shah had gone rogue.
A final report into the tragedy released in 2018 pointed to failings by air traffic control and said the course of the plane was changed manually.
