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| image via @theplanespapanazzi (Instagram) |
A photo showing an aircraft bearing the brand name "MYAirline" was spotted at the Kuala Lumpur International Airport (KLIA) recently
The photo was shared by Instagram account @theplanespapanazzi and it has since sparked excitement among members of the public about the new market player in the aviation industry.
"MYAirline, new ultra low-cost carrier. Hopefully, [it gets] to fly passengers soon," read the caption
A Thailand flag is seen painted on the front of the aircraft. @theplanespapanazzi noted that the aircraft is a former AirAsia aircraft.
Citing sources, The Edge Markets reported in late January that MYAirline Sdn Bhd is one of two newly-established airlines that is expected to be launched soon.
It is said to be an ultra low-cost carrier (ULCC).
The company was previously registered as Z9 Elite Sdn Bhd with the Malaysian Aviation Commission (MAVCOM) and was granted conditional approval for an air service licence (ASL) on 22 December 2021.
The licence is valid for the entire year of 2022, allowing the company to conduct scheduled passenger and cargo services like those of Malaysia Airlines Bhd (MAB) and Capital A Bhd (formerly known as AirAsia Group Bhd).
MYAirline's shareholders consist of Zillion Wealth Bhd (88%), Trillion Cove Holdings Bhd (10%), and Rayner Teo Kheng Hock (2%)
The Edge Markets reported that it has RM2 million in paid-up capital.
The directors are Datuk Goh Hwan Hua, Datuk Abd Hamid Mohd Ali, Datuk Seri Azharuddin Abdul Rahman, Rayner Teo Kheng Hock, and Jothi Prakash Murugan, reported The Edge Markets citing a filing to the Companies Commission of Malaysia (SSM).
Among the directors, Goh is believed to be the biggest financial backer of the new ULCC as he is the shareholder of both Zillion Wealth Bhd and Trillion Cove Holdings Bhd.
In other words, he is said to have a 98% stake in MYAirlines.
Goh has a background in audit and corporate finance. He is also an entrepreneur in the fields of e-commerce, e-ticketing, fintech, retail, and tourism space.
As for other directors, Jothi has a background in information technology (IT) and serves as a director of Trillion Cove.
The remaining three are aviation industry veterans who have held positions in Malaysia Airport Holdings Bhd, the Malaysian Civil Aviation Department (DCA), the Civil Aviation Authority of Malaysia (CAAM), and AirAsia.
The Star reported that the company is currently on a hiring spree.
In response to the new aviation market player, MAB group chief executive officer Izham Ismail questioned the need for more capacity in the local aviation sector.
"My fear for the new airline is that it may derail the sustainability of existing airlines with unnecessarily more capacity, which will benefit the consumers, but is it sustainable to the country?" he told the English daily earlier this year.
As for Capital A's chief executive officer Tan Sri Tony Fernandes, he is unfazed by the entry of the two new Malaysian airlines.
SKS Airways Sdn Bhd is the other company that was also granted an ASL early this year. The licence for the Johor-based company is valid for three years, which is set to expire on 31 December 2024.
Source: Says