MJETS AIR ACQUIRES ITS FIRST OWNED FREIGHTER, EXPANDING FLEET TO SEVEN TO MEET SOARING DEMAND
KUALA LUMPUR — Tuesday, 24 December 2024 — MJets Air Sdn Bhd (formerly MJets International Sdn Bhd), a subsidiary of MMAG Aviation Consortium Sdn Bhd (“MAC”) under MMAG Holdings Berhad (“MMAG”), has proudly acquired its seventh aircraft, a Boeing B737–400F Converted Freighter from JPA №161 Co., Ltd. This acquisition signifies a major milestone in MJets Air’s ambitious plan to expand its fleet to 13 aircraft by the end of 2025, reinforcing its position as a key player in the regional air cargo market.
Currently, MJets Air operates a fleet of six leased aircraft, which have been instrumental in meeting growing market demands. This seventh aircraft marks the company’s first owned freighter, signifying a strategic shift toward ownership to enhance cost control, operational flexibility, and long-term growth.
This strategic move is driven by the overwhelming demand for air cargo services, which has outpaced expectations and far exceeded MJets Air’s current capacity. The addition of this new freighter is a critical step toward addressing this capacity gap, enabling MJets Air to better meet market demands and seize untapped opportunities in the growing air cargo industry.
In recent months, MJets Air has solidified key strategic partnerships to enhance its network and operational capabilities. Collaborations with MasKargo, Teleport, China Southern Airways, and All Nippon Airways (ANA) have significantly strengthened its connectivity in high-demand routes across Southeast Asia, Hong Kong, China, and India. Additionally, partnerships with key cargo sales agents have optimized capacity utilization and expanded customer reach. These alliances, coupled with fleet expansion, position MJets Air to deliver superior service reliability and operational excellence in the evolving air freight landscape.
According to the International Air Transport Association (IATA), global air cargo demand is forecast to grow by 4.1% annually through 2025, fueled by the rapid expansion of e-commerce and the recovery of global trade. The Asia-Pacific region, contributing nearly 40% of global air cargo traffic in 2023, remains a vital growth hub. MJets Air is strategically aligning itself to leverage this market potential, particularly in high-growth areas such as Southeast Asia and China.
The Boeing B737–400F, with a payload capacity of up to 18 tonnes, is celebrated for its cost-efficiency and versatility in regional operations. Its large cargo door and flexible configuration make it ideal for a diverse range of cargo, including e-commerce shipments, perishables, and industrial goods. These features perfectly align with MJets Air’s strategic focus on short- to medium-haul routes, enabling it to effectively serve the region’s evolving logistics needs.
“This acquisition marks a significant step forward in MJets Air’s mission to lead the regional air cargo market and strengthen its role as a key feeder operator,” said Mr. Woo Kam Weng, Chairman of MJets Air. “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. 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.”
MJets Air’s commitment to transitioning from leased to owned aircraft underscores its long-term vision for sustainability and profitability. By integrating additional freighters into its fleet and leveraging strategic partnerships, the company is enhancing its ability to adapt to market changes and deliver exceptional service to its customers.
As the company advances toward its goal of a 13-aircraft fleet by 2025, it is well-positioned to capitalize on the robust demand for air cargo services. This acquisition reaffirms MJets Air’s dedication to operational excellence, customer satisfaction, and leadership in the aviation and supply chain sectors.
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