There's a new startup in the airline market, as newcomer MYAirline is hoping to change the outlook of aviation within Malaysia. Although the airline is still not that ready for take-off, here is what we know about it so far.

Who is leading MYAirline?

On October 28th last year, MYAirline was founded but under its original name of Z9 Elite Sdn. The new name was only incorporated on January 11th this year.

Currently, the airline's Chief Operating Officer and Executive Director is Stuart Cross. According to his LinkedIn profile, Cross was previously Chief Operating Officer of Aero K Airlines and had previously held leadership positions in AirAsia.

Who is funding the airline?

The startup is currently funded by Datuk Goh Hwan Hua, alongside Datuk Abd Hamid Mohd Ali, Datuk Seri Azharuddin Abdul Rahman, Rayner Teo Kheng Hock, and Jothi Prakash Murugan.

These directors know the aviation and business world with previous experiences in companies such as AirAsia, Malaysia Airport, and the Malaysian Civil Aviation Department. They are also a part of the companies Zillion Wealth Bhd, Trillion Cove Holdings Bhd, and Rayner Teo Kheng Hock, the airline's shareholders.

Interestingly, Datuk Goh Hwan Hua is seemingly the main financial backer of the new airline startup, as his shareholdings in the first two mentioned companies total a grand 98%.

As for the stakes of the companies in MYAIrline, Zillion Wealth Bhd takes up the majority at 88%, while Trillion Cove Holdings Bhd takes up 10%, and Rayner Teo Kheng Hock takes up the remaining 2%.

Is the airline certified?

The answer is yes. Late last year, MYAirline received its conditional approval for an Air Service License - a required certification in Malaysia for transporting passengers, mail, or cargo by air between two or more places.

However, the conditional approval is only valid for one year until December 31st. Expiry dates on the Air Service License are not uncommon. This means that MYAirline would have to submit a written application to the Malaysian Aviation Commission at least 90 days before the end of the year for renewal.

On the brighter side, having the conditional rights to operate has further enabled MYAirline to begin recruitment drives for cabin and flight crew. According to its website that said:

"[MYAirline is] looking for ex-crew or current online crew with at least 24 months experience with any airline."

Once hired, the crew will undergo training for operations onboard the Airbus A320, which MYAirline is planning to attain two of through leasing.

Where will it fly to?

Operating on an ultra-low-cost business model and with two Airbus A320s planned for its fleet, MYAirline will be based out of Kuala Lumpur International Airport. It is currently unclear whether the airline aims toward domestic or international markets as no routes have been announced.

On the other hand, given that its direct rival is AirAsia, it could be likely that MYAirline would mirror the destinations flown by that carrier.

While such a strategy might seem foolish for a new startup, considering how poorly AirAsia has been performing financially, it might be a strategy that pays off.

Bottom line

It does seem weird for a new startup to enter a relatively tense market in just-recovering times. It is curious to understand how a new ultra-low-cost carrier will change the playing field for the airline industry in Malaysia.

Malaysia Airlines could suffer significantly when rising fuel costs lead to higher ticket prices - passengers might choose to head towards ultra-low-cost instead. And as for AirAsia, its recovery seems uncertain as well.

Nonetheless, the latest entrant appears ready to break in with its good financial capital and conditional approval. All MYAirline requires now is a good set of operating crew, its fleet, and to add in some routes before it is ready for take-off.