MJets Air chairman Woo Kam Weng
KUALA LUMPUR: MMAG Holdings Bhd
’s subsidiary, MJets Air Sdn Bhd, is acquiring its seventh aircraft, a Boeing B737-400SF Converted Freighter, from JPA No.161 Co. Ltd. for RM20.76mil cash.
MMAG said the aircraft purchase is part of the group’s strategic move to expand and enhance its air freight capabilities, providing greater control over its fleet and improving operational efficiency.
"By acquiring the aircraft, MJets aims to strengthen its competitive position and achieve cost efficiencies, which are essential to its continued growth and success in the aviation and supply chain sectors," MMAG said in a filing with Bursa Malaysia.
In a separate statement, MJets Air chairman Woo Kam Weng noted that the acquisition marks a significant step forward in the company’s mission to lead the regional air cargo market and strengthen its role as a key feeder operator.
“With a target fleet of 13 aircraft by the end of 2025, this expansion addresses the overwhelming demand for air cargo services, which has outpaced our current capacity," he said.
“Due to limited aircraft availability, we have been unable to accept new bookings or charters, making this acquisition critical for meeting growing customer demands, enhancing service reliability, and delivering greater value to our stakeholders,” he added.
MJets Air currently operates six leased aircraft. This seventh, its first owned freighter, marks a shift to ownership for better cost control and growth.
MMAG further highlighted that the Boeing B737-400SF, with a payload capacity of up to 18 tonnes, is valued for its cost-efficiency and versatility. Its large cargo door is well-suited for transporting various goods, including e-commerce shipments, perishables, and industrial items.
