The company’s offer comes as the family members of the victims continue to plead with the Malaysian government to reinitiate the public search called off earlier this year, or allow private searches to begin.
"The terms of the offer are confidential, but I can … confirm that Ocean Infinity have offered to take on the economic risk of a renewed search," the company told NBC News. "We’re in a constructive dialogue with the relevant authorities and are hopeful that the offer will be accepted."
According to Voice370, a support group for the family of MH370, the proposal was first submitted nearly four months ago. The group isn’t sure why the Malaysian government is dragging its feet.
— Sumisha Naidu (@SumishaCNA) August 10, 2017
"Why hasn’t Malaysia accepted this win-win offer?" the group’s statement read. "It has been more than four months now since Ocean Infinity first made the offer to carry out the search with a fee payable contingent upon success."
"We believe this offer should be accepted without further delay," the release added.
The government has yet to respond to the families’ question as of Friday afternoon.
Last year, a team of experts concluded the flight most likely crashed in a 9,700-square-mile area of ocean southwest of Australia; however, the three nations said the newly-identified area was simply too large to justify resuming the publicly-funded search. Malaysia, Australia and China have already spent roughly a combined $150 million.
Speaking to NBC News, Darren Chester, Australia’s transport minister, stated that since the aircraft was registered in Malaysia, that country "retains overall authority for any future search [efforts]."
"Australia stands ready to assist the Malaysian government in any way it can," Chester’s statement noted.
In early August, Peter Bellew, CEO for Malaysia Airlines, announced that the downed passenger plane would eventually be found — within the next three or four years — with the help of artificial intelligence.