Transonic Jet propels airline industry with RM50 million merger deal
SHAH ALAM - Transonic Jet Sdn Bhd has announced a transformative merger and acquisition agreement with MY Jet Express Airlines Sdn Bhd.
Valued at RM50 million, the deal signified a significant leap forward for both companies and the broader aviation industry.
The comprehensive agreement included the acquisition of 90 per cent of MY Jet Express Airlines Sdn Bhd's company shares, along with crucial licences essential for aviation operations.
This strategic move, driven by Transonic Jet executive chairman and managing director Ahmad Sufiani Johari's vision, aimed to propel the company into the air freight services sector while reinforcing its existing private air charter and Umrah/Hajj flight services.
Aligned with the Malaysian government's aspirations to develop and enhance the Malacca International Airport, Transonic Jet has earmarked RM2 billion (USD$ 422.79 million) for a comprehensive four-phase investment plan.
This has been made possible through a robust financial backing from Banco LQID (USA) and Associated Bank, with special recognition extended to Financier Trustee Datuk Sri Mohd Rossahizam Mat Sakin for his pivotal role in securing financial support.
The merger not only enhanced operational capabilities and expanded the service portfolio of Transonic Jet but also positioned it as a key player in the air freight sector while strengthening its foothold in private air charter and pilgrimage-related flight services.
With a commitment to implementing innovative solutions and advanced technologies, Transonic Jet is poised to navigate the evolving dynamics of the aviation industry while ensuring a competitive edge for the newly merged entity.
Sufiani emphasised the company's dedication to regional infrastructure improvement, particularly through the development of Malacca International Airport.
His vision for Transonic Jet's future aligned with broader industry goals, focusing on sustainability, innovation and service excellence.
The successful execution of this monumental merger and acquisition reflected collaborative efforts and a shared commitment to driving growth and advancement within the aviation sector.
