Transonic Jet inks merger with MY Jet Express Airlines

PETALING JAYA: Transonic Jet Sdn Bhd has embarked on a merger and acquisition with MY Jet Express Airlines Sdn Bhd, securing 90% of the latter’s shares, along with pivotal licences and certifications, in a deal valued at RM50mil.

In a statement, Transonic Jet said this deal is part of its broader commitment to enhance Malaysia’s airline industry, as the company is investing RM2bil in a four-phase plan.

“This commitment aligns with the Melaka government’s goals to develop and enhance Melaka International Airport,” Transonic Jet said.

Transonic Jet executive chairman and managing director Ahmad Sufiani Johari said the move not only aligns with industry trends, but also ensures a competitive edge for the newly merged entity.

He said the RM2bil investment plan will also facilitate the development of Melaka International Airport, outlining its commitment to regional infrastructure improvement.

“The phased approach is designed to meet the evolving needs of passengers, airlines, and cargo operators, while contributing to the economic development of the region,” he added.

Transonic Jet said the merger aligns with its vision to expand into the realm of air freight services, enhancing its existing portfolio of private air charter and mmrah and hajj flight services.

The merger also paves the way for enhanced operational capabilities and a broader service portfolio.

“It positions Transonic Jet as a key player in the air freight sector while strengthening its foothold in private air charter and pilgrimage-related flight services.

“The realisation of this plan is supported by financial backing from United States-based Banco LQID and Associated Bank.

“It reflects their confidence in Transonic Jet’s vision and commitment to industry advancement.”