Malaysia's upstart airlines are struggling to take off

A handful of investor groups that eyed opportunity amid troubles and tragedies at Malaysia's two major airlines are finding the country's skies too bumpy to navigate. Between them, Malaysia Airlines and AirAsia experienced three fatal crashes overseas in 2014, and both also saw their financial results decline. Betting that fliers at home and abroad might be looking for alternatives, two new companies moved to enter the market last year, and others have made moves to do so this year. Malindo Air, which launched flights in 2013, began upgrading its offerings and adding international routes. Malindo is the only one of these challengers now posing a competitive threat. Regulators forced Rayani Air, which launched domestic flights last December as Malaysia's first carrier compliant with Islam's Shariah rules, to suspend operations in April. Flymojo, which had ordered aircraft and planned to launch service in October 2015, has yet to get airborne. Monspace Sky Airlines flew one flight on July 22 but was promptly rebuffed by regulators, who said it lacked approval to operate. "In my opinion, there is no room for another player," said Mohsin Aziz, an aviation analyst at Maybank Investment Bank. The market, he said, "is already too crowded. Anyone who wants to start an airline now is either stupid or crazy."<br/>