Montreal-based Bombardier is under pressure to bring the CSeries into service after years of delays and cost overruns. The smaller CS100 started test flights in 2013.
The company has tried to sell the CSeries to Southeast Asian airlines such as Malaysia's AirAsia and Indonesia's Lion Air, but it has been unsuccessful in the face stiff competition from Boeing and Airbus in one of the region's fastest growing airline markets.
Read MoreMalaysia Airlines: One year after MH370
If the deal with flymojo is firmed up, it will finally give the Canadian planemaker a toehold in the region.
The airline will begin flying in the first quarter of 2016 and focus on regional routes, Managing Director Janardhanan Gopala Krishnan said, without disclosing details about its owners. The full-service airline will be based at Senai International Airport in Johor, near Singapore, but it was not immediately clear when it plans to firm up the Bombardier order.
Bombardier builds private jets and smaller passenger aircraft that can seat up to 100 passengers, and has spent billions developing the CSeries, which can seat up to 160 passengers. This puts it in direct competition with the smallest variants of the Airbus A320 and Boeing 737 family of aircraft.