According to U Khin Maung Aye, chairman of Kaung Myanmar Aung Business Development Enterprise and Cooperative Bank (CB), this upcoming project will take advantage of the flourishing tourism sector in the country. Each share would cost K10, 000, said news report from Equities.
The company is targeting to its operation by early 2013 and they are eyeing Mandalay International Airport as its point of origin.
He further added that there was no public airline company in Myanmar unlike in Bangkok, the Thai Airways International being used. This makes them proud that they will be launching this public company. All they wanted is to provide their clients excellent air services at an economical price since there is only one international carrier in the country. The need for establishing new airline companies is necessary to cater to the booming increase in tourists and visitors.
Being a shareholder in the company entitles you to become part owners of the airline. The invitations are open to all interested individuals, hoteliers and various business minded people.
The formal invitation will be out in early September. U Aung Gyi said important details and information will be discussed and presented on that specified time. Golden Myanmar Airlines will constructively compete with Myanmar Airways International (MAI) and to search for new routes which do not exist, Equities news reported.
Several staff of MIA were convinced and encouraged to join this new airline business because of the opportunity to become shareholders. A senior officer of MIA whose identity was not known revealed that with this recent undertaking by the Golden Myanmar Airlines, MIA lost some of its distinguished and skilled workforce.
However, having admitted the real situation, they cannot comment on the issue since the workers have the right to choose what they think is right for them and are determined to be part of the new company, the report said.