KUALA LUMPUR – A new Malaysian flagship air freighter will soon be launched, people familiar with the matter tell The Vibes, as the aviation industry continues to reel from a severe global downturn caused by the coronavirus pandemic.
It is learnt that M Jets International Sdn Bhd, which is the subject of a takeover, will be rebranded from a charter to cargo airline, with the new company retaining the M Jets brand.
As for fleet type, details are scarce but a source added that the company is awaiting delivery of narrow-body freighters.
Ownership wise, M Jets will be controlled by listed MMAG Holdings Bhd (80%) and JT Aerotech Solutions Sdn Bhd (20%).
Earlier today, MMAG in a bourse filing announced its intention to purchase the said number of shares from M Jets for a total cash consideration of RM21.35 million.
MMAG’s major shareholders are Chan Swee Ying (32.2%) and Jr Joint Resources Holdings Sdn Bhd (23.7%) while JT Aerotech’s shareholders comprise of former Malindo Airways Sdn Bhd management such as Gunasekar Mariappan. – The Vibes, November 16, 2020
