"With the heaviest heart and deepest sorrow ... we officially declare Malaysia Airlines flight MH370 an accident, " said Azharuddin Abdul Rahman, Director General of the Department of Civil Aviation Malaysia.
The aircraft disappeared March 8, 2014 and no traces of it have been found since.
Thursday's announcement opens the door for the family members of the 239 people on-board, all presumed to be dead, to now receive compensations. The value of those compensations is unclear right now. (Video via euronews)
As the BBC reports, many families of the missing passengers are rejecting compensation due to distrust of the government.
"What they worry is that the Malaysian government will ultimately just payout the compensation and stop the search altogether and they will not get the kind of closure they have been looking for," said BBC reporter Jennifer Pak.
During Thursday's announcement, the Malaysian government said it's believed the plane exhausted its fuel and went down in a remote area of the southern Indian Ocean, far from any possible landing locations.
The Malaysian government says the search and recovery of the missing plane will continue.
This video includes images from Getty Images and the Australian Maritime Safety Authority.