CEO Becomes Major Shareholder in Malindo Air

2nd Feb 2017

According to reports from media in Malaysia, Malindo Airways Chief Executive Officer Chandran Rama Muthy is now the major shareholder of the self-proclaimed “hybrid airline”, after the National Aerospace and Defence Industries (Nadi) reduced its stake from 50.99% to just 5%.

Mr. Chandran and his wife Kalpana Devasagayam now hold a 46% stake at the Malindo Air’s operating company, Malindo Airways via Sky One Investors. They both own equal portions in Sky One.

The remaining 49% of shares in Malindo is owned by the Indonesian PT Lion Group.

At the moment, it is not known when these changes happened, as currently neither side is willing to comment on the matter. Hopefully, we’ll soon find out why Nadi decided on such a drastic share cut.

Malindo Air Gets IATA IOSA Registration

Meanwhile, Malindo Air has announced that it was successful in obtaining the IATA Operational Safety Audit (IOSA). The IOSA is an internationally recognized evaluation system meant to evaluate the airline’s operational management and operational systems.

Airlines must pass the audit every two years after registering for the IATA Operational Safety Audit. For Malindo the registration will be valid from 4^th June, 2016 to 3^rd June, 2018.

In a statement about obtaining the IOSA certificate, Malindo Air CEO said:

Obtaining the IOSA registration is a valuable operational benchmark for Malindo Air as this further validates that safety is paramount for us. This programme contributes to increased emphasis on improving safety management, and aligning us with global best practices, promoting a convenient and safe travel experience for our travellers. It is absolutely vital as it helps ensure our sustainability and continuous development according to IATA standards, regulatory requirements and industry best practices within our operations.

He added:

As safety remains our number one priority, I would like to congratulate all our employees for their hard work in maintaining these international and highly recognized standards for Malindo Air, setting us at par with the international aviation industry requirements.

The IATA Operational Safety Audit (IOSA) is a requirement for the membership in the International Air Transport Association (IATA). At the moment, the only airline in Malaysia to be the member of IATA is Malaysia Airlines Berhad (MAB).