Business

Published: Thursday March 7, 2013 MYT 3:47:00 PM

Malindo Air secures US$1.1b financing from US Exim Bank for aircraft


PUTRAJAYA: Malindo Air, Malaysia's first hybrid airline, has secured US$1.1bil financing from the US Export-Import Bank to buy 27 Boeing 737-900ER aircraft.

Chief Executive Officer Chandran Rama Muthy said the airline company will buy the aircraft in stages till 2014.

"In the first year of operations, we plan to buy 12 aircraft," he told reporters after the signing of an agreement between Malindo Air and its new management staff here on Thursday.

He said Malindo Air's maiden flight to Kota Kinabalu on March 22, will be followed by another to Kuching, a day later.

To mark its presence, Malindo Air is offering an all-inclusive fare of low as RM38 to Kuching and RM68 to Kota Kinabalu.

This promo price will last until September or October, said Chandran.

He said Malindo Air will have four flights daily to Kuching and thrice daily to Kota Kinabalu.

"This year, we are aiming for an average load factor of around 85-90 per cent, while offering 12 seats in business class and 168 seats for economy," he added.

Chandran said the airline will announce more domestic routes in the near term. - Bernama

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