(Bloomberg) -- Malaysian authorities are considering resuming the hunt for Malaysia Airlines Flight 370, a decade after the aircraft disappeared, after receiving a proposal from a marine exploration company for a fresh search.Transport Minister Anthony Loke said he has asked Ocean Infinity for a briefing on its latest plan. Speaking Sunday at a commemoration event marking the tragedy, Loke said the US company had made a “no-cure, no-fee” proposal, which means it would get paid only if the wreckage is found.MH370 vanished on March 8, 2014, on its way to Beijing from Kuala Lumpur with 239 people on board. Investigators concluded the plane deliberately left its planned flightpath, looped back over Malaysia and headed out to sea. The Boeing Co. 777 likely cruised south for about six hours and came down in the southern Indian Ocean when it ran out of fuel. A huge search of the area, renowned for its deep subsea trenches, came up empty.“The Malaysian government is steadfast in our resolve to locate MH370,” Loke said in his speech. According to the Associated Press, Loke said he'll ask Cabinet to approve a contract with Ocean Infinity if it has credible evidence pointing to the aircraft's location.Read More: A Decade After MH370, Planes Are Still at Risk of DisappearingOcean Infinity tried to find MH370 in 2018. Malaysia's government had agreed to pay the firm as much as $70 million if that operation was successful.Since then, advances in technology and robotics have improved the company's capabilities, Chief Executive Officer Oliver Plunkett said in a statement.“We've been working with many experts, some outside of Ocean Infinity, to continue analyzing the data in the hope of narrowing the search area down to one in which success becomes potentially achievable,” Plunkett said. “We hope to get back to the search soon.”More stories like this are available on bloomberg.com©2024 Bloomberg L.P.