Cambodia Bayon Airlines (Phnom Penh) has signed a firm purchase agreement with Xian Aircraft Company (Xi'an Yanliang) for twenty MA-60 aircraft - two firm and eighteen options - valued at USD450million. The first of the type are due in country later this year.
Backed by USD100million in initial capital, Cambodia Bayon Airlines is a wholly-owned subsidiary of Bayon Holding Limited of which JoyAir (JR, Xi'an Xianyang) is a shareholder.
The start-up is in the process of securing its Air Operator's Certificate (AOC) from Cambodia's Secretariat of State for Civil Aviation (SSCA) and plans to commence scheduled domestic flights by the end of the year. Alongside its anticipated fleet of Chinese turboprops, the airline will also operate A320-200s while branching out into the regional aviation scene.
