MYANMAR’S new international carrier, Golden Myanmar Airlines, will invite investors to pick up shares in its parent company this month.
Golden Myanmar Airlines will compete with Myanmar’s other international carrier, Myanmar Airways International (MAI), and also look at flying new routes that are not being offered right now. The company aims to begin flights in early 2013 and is considering using Mandalay International Airport as its base.
“Initially we established Golden Myanmar Airlines Public Company with some shareholders. The next step to invite shareholders (to apply to buy shares) will take place very soon,” said U Khin Maung Aye, chairman of Co-operative Bank and Kaung Myanmar Aung Business Development Enterprise.
He said the project would capitalise on Myanmar’s booming tourism industry and shares would cost K10,000 (US$11.50) each.
“In Myanmar we have never had a public airline company like, for example, Thai Airways International. This is one of our reasons for starting this public company,” he said. “All the shareholders in the company will be part owners of the airline and we welcome all interested people, hoteliers and other business people to become shareholders in the airline.
“We want people to enjoy good air services at a reasonable price.”
U Thein Tun, chairman of Myanmar Golden Star, and U Aung Gyi, a former managing director of MAI, will be board members of the company and are two of the 15 main shareholders.
“We will invite shareholders in early September. More details about the airline will be presented at that time,” said U Aung Gyi.
“Currently we only have one international airline from Myanmar, and we need another, which is why we are establishing this company,” he said.
