According to The Edge, passengers will soon give you the chance to get to know the brand new ultra-low-cost carrier (ULCC).
It will probably be a competitor to AirAsia, which currently dominates the low-cost airline market.
The Malaysian Aviation Commission (Mavcom) on December 22 last yr issued a brand new conditional approval to the ULCC for the issuance of an Air Service License (ASL).
MYAirline, like Malaysia Airlines Bhd and AirAsia, can now operate passenger and cargo flights.
According to Companies Commission Malaysia filings, MYAirline has a paid-up capital of RM2 million, which is split into two million shares of RM1 each (SSM).
Zillion Wealth Bhd owns 88 percent of the corporate, Trillion Cove Holdings Bhd owns 10 percent and Rayner Teo Kheng Hock owns 2 percent. (2 percent).
According to the article, Datuk Goh Hwan Hua is financially supporting the aviation enterprise.
As a result, he now owns 98 percent of MYAirline, and SSM lists him as a shareholder in each Zillion Wealth and Trillion Cove.
According to Trillion Cove’s website, Goh is the corporate’s CEO and director.
He has experience in auditing and company finance. He is credited with creating businesses in various sectors.
His businesses included e-commerce, online business, e-ticketing, finance, retail and tourism.
It is led by aviation industry veterans.
The identity of its directors can also be listed in SSM documents.
They include Datuk Abd Hamid Mohd Ali, Datuk Seri Azharuddin Abdul Rahman and Jothi Prakash Murugan, in addition to Datuk Goh Hwan Hua and Teo.
Teo, certainly one of its directors, was previously global director of sales and distribution at AirAsia from 2004 to 2020.
From 1992 to 2016, one other director, Abd Hamid, was the chief operating officer of Malaysia Airport Holdings Bhd.
Jothi, the third director, comes from the data technology (IT) industry and has been nominated to Trillion Cove’s board of directors.
Meanwhile, Azharuddin previously served because the director general of the Malaysian Department of Civil Aviation (DCA).
He also served as the pinnacle of the Civil Aviation Authority of Malaysia (CAAM) for ten years from 2008.
Another person’s meat is one other person’s poison.
As a result, on January 17, CGS-CIMB Research announced the introduction of a brand new ULCC.
According to reliable sources, latest carrier ULCC is within the means of obtaining a regulatory license to operate in Malaysia after signing agreements to lease two Airbus A320 aircraft at low leasing rates.
Raymond Yap, aviation analyst at CGS-CIMB Research
According to Yap, AirAsia, which was downgraded to Practice Note 17 status last week, will face a battle.
Bursa Malaysia Securities assigns the code PN17 to corporations in financial distress.
Apart from MYAirline, Mavcom also awarded an ASL license to Johor-based SKS Airways Sdn Bhd last month.
SKS Airways plans to debut on January 25 with a flight from Subang to Pangkor.
