KUALA LUMPUR: MMAG Holdings Bhd
is disposing of a Boeing B737-400SF converted freighter aircraft for US$2.8mil (RM11.43mil), resulting in an estimated loss of RM12.69mil.
In a filing with Bursa Malaysia, the company said its indirect subsidiary, MJets Air Sdn Bhd, had entered into an aircraft purchase agreement with Mont Gabanon Airlines or MGA for the disposal.
MMAG said the aircraft, acquired in January 2025 for US$6.55mil, had an unaudited net book value of RM24.12mil as at Sept 30, 2026.
The group said the disposal was part of its ongoing review of aviation assets amid rising operating costs and weaker charter demand.
MMAG said retaining the aircraft was no longer commercially viable without suitable deployment plans, adding that the disposal would help reduce its financial burden and streamline aviation operations.
