NEW MYAirline FAILED In Just ONE YEAR! Here's WHY

MYAirline was an airline that aimed to revolutionise the Malaysian aviation industry. Operating primarily from the Kuala Lumpur International Airport, they offered passengers low ticket prices in an effort to boost demand and carve out a niche for themselves just like Ryanair but in South-East Asia.
However this fairy tail was short lived as , MYAirline, failed in just one year.
So, what happened?