MYAirline is owned by Malaysian entrepreneur Dato. (Allan) Goh Hwan Hua, who controls a 98% stake in the airline via two private entities, Zillion Wealth Bhd. (88%) and Trillion Cove Holdings Bhd. (10%). Rayner Teo Kheng Hock, the founding CEO of MYAirline, holds the remaining 2%[32].

Controlling shareholder Dato. Goh is the owner of iServe, a fintech company. iServe was raided by Malaysia's central bank, Bank Negara Malaysia, in November 2021 on suspicion of committing money-laundering offences and accepting deposits without a license. RM118.7 million (US$27 million) of funds were frozen across 45 bank accounts, while 22 different locations around Malaysia were raided in a joint operation alongside the Securities Commission of Malaysia, the Companies Commission of Malaysia, the Malaysian Anti-Corruption Commission, the Royal Malaysia Police and Cybersecurity Malaysia[33][34]. In September 2023, Bank Negara Malaysia levied a fine of RM50 million on iServe and six other related entities for money-laundering offences and accepting deposits without a license[35].

In May 2023, MYAirline shareholder Trillion Cove Bhd., controlled by Dato. Goh, was implicated in a money-laundering case involving Datum Mohamad Madani Sahari, the former CEO of the Malaysian Automotive Robotics and IoT Institute. He was charged with receiving RM19,000 of fees from illegal transactions, involving the purchase of RM1 million of Trillion Cove's Redeemable Preference Shares.[36]

In October 2023, Malaysian online news portal Free Malaysia Today claimed a "local entrepreneur" was close to launching a takeover bid for MYAirline, claiming that "town hall" meetings have already been held with the incoming owner.[37] Media reports have suggested that Abang Abdillah Izzarim Abang Abdul Rahman Zohari, a businessperson and commercial pilot who is the son of current Sarawak Premier Abang Abdul Rahman Johari Abang Openg, may be the new owner, claiming that he was sighted at one of MYAirline's "town hall" sessions, though this has been denied by sources close to the Sarawak Government.[38][39].