The hunt for Malaysia Airlines Flight 370 will be suspended once the current search area in the Indian Ocean has been completely scoured, the ministers of the three countries conducting the operation announced Friday. "In the absence of new evidence, Malaysia, Australia and China have collectively decided to suspend the search upon completion of the 120,000-square-kilometer (46,300-square-mile) search area", Malaysian Transport Minister Liow Tiong Lai said after a meeting with his Australian and Chinese counterparts. He said suspension of the search does not mean an end to it. "Should credible new information emerge which can be used to identify the specific location of the aircraft, consideration will be given in determining next steps," he said, reading out from a joint statement. In their statement, the ministers acknowledged that "the likelihood of finding the aircraft is fading," AP reported.