2 Myanmar domestic airlines stop operations

Yangon, July 18 : Two of Myanmar's domestic airlines -- Air Bagan and Apex Airlines -- have stopped their operations, surrendering their air operator's certificates (AOC) to the authorities, the national media reported on Wednesday.

Shortage of aircraft and economic losses forced the airlines to stop their operations, Xinhua news agency quoting a 7Day Daily report.

In accordance with Myanmar Aviation Act, the airlines will be allowed to reapply for the AOCs when they have enough aircraft to resume flights.

Air Bagan started its services on 20 routes in 2012 and Apex Airlines started flying on five domestic routes in 2015.

Myanmar has 10 domestic airlines operating with about 40 aircraft.