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MYAirline

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Not to be confused with MyAir or MyTravel Airways.
MYAirline
IATA ICAO Call sign
Z9 MYM MYAIR
Founded11 January 2021; 3 years ago (2021-01-11)[1]
Commenced operations1 December 2022; 2 years ago (2022-12-01)
Ceased operations12 October 2023; 13 months ago (2023-10-12)
AOC #68
Operating bases
Fleet size9
Destinations9
Parent companyDato. (Allan) Goh Kwan Hua (98%, via Zillion Wealth Bhd. and Trillion Cove Holdings Bhd.)[2]
HeadquartersSubang Jaya, Selangor, Malaysia
Key people Stuart Cross (Interim CEO)[3]
Employees500[4]
Websitewww.myairline.my

MYAirline is a Malaysian low-cost airline founded in 2021.[5] It is headquartered in Subang Jaya, Selangor and primarily operates from KLIA2, the low-cost carrier terminal of KLIA (Kuala Lumpur International Airport).[4] The airline began its maiden flight on 1 December 2022 to Kuching International Airport.[6] The company slogan is Your Experience Matters.

On 12 October 2023, the airline announced that it has suspended operations effective immediately due to “severe financial challenges”.[7]

History

Origin

The airline traces its origin from a discussion between Rayner Teo Kheng Hock, an airline industry veteran, and a Malaysian entrepreneur, Dato' Goh Hwan Hua in late 2020. The team identified that the post-pandemic travel recovery would establish a good potential to build a new airline, including a lower price rate for aircraft leases, as well as the surplus of airport slots and skilled aviation-related professionals.[8] MYAirline was founded on 11 January 2021; and on October 28, 2021, the company's legal name was changed to Z9 Elite Sdn. Bhd. and subsequently to MYAirline Sdn. Bhd.[9]}}[10][11]

In July 2022, the airline received its first aircraft, an Airbus A320 (9M-DAC) leased from Aircastle Limited.[12] MYAirline's fleet was further developed by the arrival of its second (9M-DAB) and third aircraft (9M-DAG) in September and October 2022.[13] The airline was granted its Air Operator Certificate on 27 September 2022 from the Civil Aviation Authority of Malaysia,[14] as well as its Air Service License on 15 November 2022 from Malaysian Aviation Commission (MAVCOM).[4] The license awarded enables MYAirline to operate passenger and cargo services.[15]

The airline was initially rumoured to position itself as the nation's first ultra low cost carrier.[5] However, on 5 October 2022, it was clarified by the airline's CEO, Rayner Teo that the carrier will perform as a low cost carrier.

Launch

A MYAirline aircraft (9M-DAF) in Tawau Airport

The bookings for MYAirline was launched on 25 November 2022 and the scheduled flights for the carrier commenced on 1 December 2022.[4] The carrier, with a fleet of 3 Airbus A320 operated its inaugural service from Kuala Lumpur International Airport to Kuching, Kota Kinabalu and Langkawi.[16]

During its initial operations, the airline recorded a high passenger load factor, with routes to Kuching and Kota Kinabalu gained an above 80% load factor and about 70% for Langkawi. There are also some flights that captured 100% capacity, with an average of 75% load factor throughout its network.[17][18] The carrier offered a once-daily flight to Kuching and twice flights per-day to Kota Kinabalu and Langkawi. By 2 December 2022, the flights to Kuching was increased to twice-daily. A third-daily flight was added to Kota Kinabalu and Kuching from 27 December 2022 onwards.[19]

On 5 December 2022, MYAirline officially introduced routes to Kota Bharu, Penang and Sibu on its network. The flight was commenced on 10 December 2022 for Kota Bharu, followed by Penang by 23 December and 18 January 2023 for Sibu. The operations to Kota Bharu and Sibu are conducted on a twice-daily basis, while Penang has started on a single-daily flight, before being increased to twice flights per-day from 7 January 2023.[20]

The company's domestic route development was continued on 16 December 2022, following MYAirline's announcement to inaugurate two new destinations to Tawau and Miri. The flights to Tawau has been commenced on 21 January 2023, with a single-daily basis; while the flights to Miri will began on 1 March 2023 with one flight per-day before being increased to twice-daily flight from 15 March 2023.[21]

MYAirline's plan to serve Alor Setar and Terengganu will be initiated after the airline received the regulatory approvals.[18][4][8] While its international expansion to Singapore, Thailand, Indonesia and Vietnam was originally planned to be operated by March 2023,[22] has since being rescheduled to began by June 2023.[23] The carrier is projected to fly on destinations located within a four-hour flight radius from its origin, optimum for the low-cost carrier operations.[15]

On 5 January 2023, the airline welcomed its 100,000th passenger, as well as logging over 600 flights across its network. Both milestones were achieved about a month after its inauguration on 1 December 2022.[24]

In April 2023, MyAirline introduced the Kota Kinabalu-Tawau flight on its network, becoming the first scheduled route in the company to be operated completely outside Kuala Lumpur International Airport. The month also witnessed additional frequencies from Kuala Lumpur to both Sabahan cities, with Kuala Lumpur-Kota Kinabalu flight being increased to four-daily operations and two-daily flights from Kuala Lumpur to Tawau. According to the MyAirline's CEO, Rayner Teo, the carrier has recorded more than half of its passengers flying towards East Malaysia and it is expected that the percentage will be increased within the next few months.[25] As of 2023, both cities remains amongst the most important destinations in the company, with flights to Kota Kinabalu being its most profitable and followed by Tawau.[26]

New hub, international expansion and financial issues

MYAirline currently plans to make Kota Kinabalu International Airport as their second hub by the year-end of 2023.[27] The carrier has also stated that it has conducted research to expand its route to include Sandakan and Bintulu in its network.[28]

From May 2023, MYAirline has announced that it will launch cargo services. The operations is expected to be activated on all of its routes.[29] The first overseas destination, Bangkok, Thailand was unveiled on May 8, 2023, the carrier will start flying to Bangkok on June 28, 2023 to Bangkok–Suvarnabhumi and followed by Bangkok–Don Mueang from 1 July 2023 onwards.[30]

On 9 October 2023, the founding CEO and partial (2%) shareholder of MYAirline, Rayner Teo, stepped down following one of MYAirline's regular "town-hall" sessions, with an official press release citing "health considerations". He was replaced on an interim basis by Chief Operating Officer, Stuart Cross[31][32]. This followed a raft of executive resignations at MYAirline, including that of the Chief Financial Officer and Chief Commercial Officer. [32]

At the same time, the New Straits Times, a Malaysian newspaper, published claims that MYAirline has been delaying or missing payment of invoices to suppliers, including state-owned airport company Malaysia Airports, as well as paying staff late over the last several months. A MYAirline spokesperson dismissed the claims, saying that "comments would be provided in due time"[32]. On 12 October 2023, the airline announced that it has suspended operations effective immediately due to “severe financial challenges”.[7]

Corporate affairs and identity

Headquarters

MYAirline established its headquarters in Subang Jaya, Selangor.

Ownership and structure

MYAirline is owned by Malaysian entrepreneur Dato. (Allan) Goh Hwan Hua, who controls a 98% stake in the airline via two private entities, Zillion Wealth Bhd. (88%) and Trillion Cove Holdings Bhd. (10%). Rayner Teo Kheng Hock, the founding CEO of MYAirline, holds the remaining 2%[33].

Controlling shareholder Dato. Goh is the owner of iServe, a fintech company. iServe was raided by Malaysia's central bank, Bank Negara Malaysia, in November 2021 on suspicion of committing money-laundering offences and accepting deposits without a license. RM118.7 million (US$27 million) of funds were frozen across 45 bank accounts, while 22 different locations around Malaysia were raided in a joint operation alongside the Securities Commission of Malaysia, the Companies Commission of Malaysia, the Malaysian Anti-Corruption Commission, the Royal Malaysia Police and Cybersecurity Malaysia[34][35]. In September 2023, Bank Negara Malaysia levied a fine of RM50 million on iServe and six other related entities for money-laundering offences and accepting deposits without a license[36].

In May 2023, MYAirline shareholder Trillion Cove Bhd., controlled by Dato. Goh, was implicated in a money-laundering case involving Datum Mohamad Madani Sahari, the former CEO of the Malaysian Automotive Robotics and IoT Institute. He was charged with receiving RM19,000 of fees from illegal transactions, involving the purchase of RM1 million of Trillion Cove's Redeemable Preference Shares.[37]

In October 2023, Malaysian online news portal Free Malaysia Today claimed a "local entrepreneur" was close to launching a takeover bid for MYAirline, claiming that "town hall" meetings have already been held with the incoming owner.[38] Media reports have suggested that Abang Abdillah Izzarim Abang Abdul Rahman Zohari, a businessperson and commercial pilot who is the son of current Sarawak Premier Abang Abdul Rahman Johari Abang Openg, may be the new owner, claiming that he was sighted at one of MYAirline's "town hall" sessions, though this has been denied by sources close to the Sarawak Government.[39][40].

Branding

MYAirline introduced a red colour scheme with grey stripes progressed towards the aircraft's front fuselage, while its logo is painted on the vertical stabilizer. Initially, the company has experimented various other alternative colours, with the emphasis to avoid red, blue, orange and purple. However, it finally concluded that red is the most attractive palate to be donned on the aircraft.[10][41]

Destinations

As of August 2023, MYAirline route system spans a network mainly originated from its home base in Kuala Lumpur International Airport:

Country City Airport Notes Ref
 Malaysia Kota Bharu Sultan Ismail Petra Airport [20]
Kota Kinabalu Kota Kinabalu International Airport Base [4]
Kuala Lumpur Kuala Lumpur International Airport Base [4]
Kuching Kuching International Airport [4]
Langkawi Langkawi International Airport [4]
Miri Miri Airport [21]
Penang Penang International Airport [20]
Sibu Sibu Airport Temporarily halted since 3 October 2023. [20]
Tawau Tawau Airport [21]
 Thailand Bangkok Suvarnabhumi Airport
Don Mueang International Airport

Fleet

Aircraft In service Orders Passengers Notes
Airbus A320-200 9[42][13] 13[43] 180
Total 9 13

MYAirline currently utilises an all Airbus A320 fleet. The carrier maintains that the usage of a single-type of narrow-body aircraft is suitable to accommodate their low-cost airline module.[41] It was held that by handling a common fleet, the crew would develop an expertise on the type of aircraft. Thus, resulting a lower turnaround time, as well as a high utilization rate and a low unit cost.[44] At present, its aircraft are leased from several sources, including Aircastle Limited[45] and Genesis Lease.[46] By the end of 2023, the airline is projected to have 20 aircraft it its fleet network,[42] and within the next 2 years, the number is expected to rise for a total of 50 aircraft, and 80 aircraft by 2027.[29]

References

  1. ^ "Z9 ELITE SDN BHD Company Profile".
  2. ^ "Malaysia's MYAirline targets IPO within three years: CEO". Nikkei. 2023. Retrieved 11 October 2023.
  3. ^ Bahari, Bilqis (October 9, 2023). "MYAirline says CEO Rayner Teo steps down due to health reasons". New Straits Times.
  4. ^ a b c d e f g h i "MYAirline gets approvals to sell air tickets, undertake commercial air transport flight". The Star. 2022. Retrieved 1 December 2022.
  5. ^ a b "Ultra-low-cost carrier MYAirline to rival AirAsia, MAS". The Borneo Post. 2022. Retrieved 2 December 2022.
  6. ^ "Penerbangan sulung MYAirline ke Kuching esok". Berita Harian (in Malay). 2022. Retrieved 1 December 2022.
  7. ^ a b "MYAirline suspends operations, cites 'severe financial challenges'". Free Malaysia Today. 2023. Retrieved 12 October 2023.
  8. ^ a b "MYAirline chief eyes Malaysia's post-pandemic travel boom". Fligh Global. 2022. Retrieved 1 December 2022.
  9. ^ Eu Hen, Seah (February 28, 2022). "MYAirline on hiring spree after securing conditional rights to fly". The Edge Markets.
  10. ^ a b "MYAirline, a new budget airline born out of crisis". The Edge Markets. 2022. Retrieved 3 December 2022.
  11. ^ "Malaysian start-up MYAirline awarded a conditional ASL". ch-aviation. 2022. Retrieved 3 December 2022.
  12. ^ "Airbus A320 - MSN 5661 - 9M-DAC". Airfleets.net. 2022. Retrieved 2 December 2022.
  13. ^ a b "MYAirline Fleet Details and History". www.planespotters.net.
  14. ^ "CAAM AIR OPERATORS". Looker Studio.
  15. ^ a b "MYAirline: Malaysia's New Low-Cost Carrier Is Set To Commence Flights". simple flying. 2022. Retrieved 1 December 2022.
  16. ^ "Malaysia's MYAirline defines launch network". ch-aviation. 2022. Retrieved 2 December 2022.
  17. ^ "MYAirline eyes South-East Asia destinations". The Star. 2022. Retrieved 3 December 2022.
  18. ^ a b "MYAirline tickets selling like hotcakes". The Malaysian Reserve. 2022. Retrieved 1 December 2022.
  19. ^ "MYAirline Inaugurates Domestic Malaysia Service in early Dec 2022". aeroroutes. 2022. Retrieved 3 December 2022.
  20. ^ a b c d "MyAirline Promo", MYAirline, 2022, retrieved 5 December 2022
  21. ^ a b c "New Routes". MYAirline. 2022. Retrieved 16 December 2022.
  22. ^ "Malaysia's MYAirline eyes int'l debut in late 1Q23". ch-aviation. 2022. Retrieved 5 December 2022.
  23. ^ "Malaysia's MYAirline plans int'l services by late 2Q 2023". ch-aviation. 2023. Retrieved 24 April 2023.
  24. ^ "MYAirline launches MY Great Sale campaign". New Straits Times. 2023. Retrieved 14 January 2023.
  25. ^ "MYAirline connects Kota Kinabalu – Tawau". New Straits Times. 2023. Retrieved 5 March 2023.
  26. ^ "MYAirline to make Kota Kinabalu its second hub". Daily Express. 6 April 2023. Retrieved 10 April 2023.
  27. ^ "MYAirline plans KK as second hub". The Vibes. 6 April 2023. Retrieved 6 April 2023.
  28. ^ "MYAirline expanding domestic route network". Borneo Post. 6 April 2023. Retrieved 10 April 2023.
  29. ^ a b "MYAirline to offer cargo services on all flights by May". The Star. 2023. Retrieved 2 May 2023.
  30. ^ "MYAirline to start KL-Bangkok flight in June". New Straits Times. 2023. Retrieved 9 May 2023.
  31. ^ "MYAirline Announces Transition in Leadership". MyAirline. Retrieved 2023-10-11.
  32. ^ a b c Bahari, Bilqis (9 October 2023). "MYAirline CEO resigns". New Straits Times. Retrieved 11 October 2023.
  33. ^ "Malaysia's MYAirline targets IPO within three years: CEO". Nikkei Asia. Retrieved 2023-10-11.
  34. ^ "BNM raids i-Serve Online Mall, seizes cash and freezes accounts totalling RM118.7m". The Edge Malaysia. Retrieved 2023-10-11.
  35. ^ "Joint Enforcement Action against Companies Suspected to be Involved in Financial Crime Activities". Bank Negara Malaysia. 15 November 2021. Retrieved 11 October 2023.
  36. ^ "Bank Negara Malaysia compounded I-Serve Online Mall Sdn Bhd and six (6) other related entities for breaches of the Financial Services Act 2013 and the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001". Bank Negara Malaysia. 15 September 2023. Retrieved 11 October 2023.
  37. ^ Mukhtar, Ahmad Mukhsein (24 May 2023). "Ex-institute chief claims trial to laundering RM1 million". New Straits Times. Retrieved 11 October 2023.
  38. ^ Augustin, Sean (9 October 2023). "MYAirline to get a new owner?". Free Malaysia Today. Retrieved 11 October 2023.
  39. ^ Bahari, Bilqis (11 October 2023). "New major shareholder for MYAirline?". New Straits Times. Retrieved 11 October 2023.
  40. ^ "State sources dismiss rumoured Sarawak takeover of MYAirline". Borneo Post Online. 2023-10-10. Retrieved 2023-10-11.
  41. ^ a b "MYAirline ready to fly in December". New Straits Times. 2022. Retrieved 3 December 2022.
  42. ^ a b "MYAirline grows fleet with delivery of sixth aircraft". The Star. 2023. Retrieved 14 April 2023.
  43. ^ "Malaysia's MYAirline eyes IPO, leases another 17 aircraft". The Star. 2023. Retrieved 14 April 2023.
  44. ^ "MYAirline to make moderate impact on Malaysian aviation - Maybank IB". New Star. 2022. Retrieved 5 December 2022.
  45. ^ "MYAirline of Malaysia takes delivery of its first Airbus A320". World Airline News. 2022. Retrieved 15 January 2023.
  46. ^ "MYAirline Receives one A320 from Genesis". Aviation Source News. 2023. Retrieved 2 February 2023.
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