Even as the aviation industry is still struggling to recover from the devastating impact of the Covid-19 pandemic, Malaysia's civil aviation industry regulator has approved two new airlines to join the industry. MYAirline Sdn Bhd (MYAirline), a newly-established ultra-low-cost carrier (ULCC), is expected to be launched soon, according to sources.
A check on the Malaysian Aviation Commission's (Mavcom) website by theedgemarkets.com showed that the new ULCC, which was previously registered as Z9 Elite Sdn Bhd, has been granted conditional approval for an air service licence (ASL) by the Commission on Dec 22, 2021. The licence is valid for 12 months from Jan 1 to Dec 31, 2022. An ASL allows the licence holder to conduct scheduled passenger and cargo services like those of Malaysia Airlines Bhd and AirAsia Group Bhd.
This is the second airline granted an ASL at the end of 2021 by the commission, which was established in 2016 to function as an independent economic regulator of the country's civil aviation industry.
It was reported less than two weeks ago on Jan 6 that Johor-based SKS Airways Sdn Bhd had also been granted an ASL by Mavcom, and also on Dec 22, 2021. SKS Airways’ ASL is effective for 36 months or three years from Jan 1, 2022, to Dec 31, 2024.
Meanwhile, MYAirline's filing with the Companies Commission of Malaysia (SSM) revealed that it has two million shares at RM1 per share, amounting to RM2 million in paid-up capital. The company named Zillion Wealth Bhd (88%), Trillion Cove Holdings Bhd (10%) and Rayner Teo Kheng Hock (2%) as its shareholders.
Its directors are Datuk Goh Hwan Hua, Datuk Abd Hamid Mohd Ali, Datuk Seri Azharuddin Abdul Rahman, Rayner Teo Kheng Hock and Jothi Prakash Murugan, the SSM filing revealed.
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