KUALA LUMPUR, 30th January – Transonic Jet Sdn. Bhd. today announced a transformative merger and acquisition agreement with MY Jet Express Airlines Sdn. Bhd. (787415-D), marking a significant step in the aviation industry.
Valued at RM50 million (USD$10.576 million), the comprehensive deal encompasses the acquisition of 90 percent of the company shares, pivotal licenses including the Air Service Licence (ASL), Air Operating Certificate (AOC), Continuing Air Worthiness Management Organisation (CAMO) CAAM, Approved Maintenance Organisation (AMO) CAAM, Foreign Aircraft Operating Certificate (FAOC) CAAS Singapore, and China Inbound-Outbound Flight License (CCAR-129 & CCAR – 287).
This strategic merger is a testament to Transonic Jet Sdn Bhd executive chairman and managing director Ahmad Sufiani Johari’s (pic right) vision to propel the company into the realm of air freight services, bolstering its existing private air charter and Umrah/Hajj flight services.
Part of a broader initiative to enhance Malaysia’s airline industry, Transonic Jet Sdn. Bhd. has allocated RM2 billion (USD$ 422.79 million) for a comprehensive four-phase investment plan.
This commitment aligns with the Malacca Government’s goals to develop and enhance Malacca International Airport (IATA: MKZ, ICAO: WMKM).
The realisation of this ambitious plan is made possible through robust financial backing from Banco LQID (USA) and Associated Bank.
Special recognition is extended to financier trustee, Dato’ Sri Mohd Rossahizam Mat Sakin (Transonic Jet Sdn. Bhd. Chief Finance Officer and Executive Director), and the visionary leadership of Ahmad Sufiani Johari.
Transonic Jet Sdn. Bhd. expresses profound gratitude to Banco LQID (USA) and Associated Bank, MY Jet Express Airlines Sdn. Bhd., Dato’ Sri Mohd Rossahizam Mat Sakin (pic left), Ahmad Sufiani Johari, and all contributors who played an integral role in the success of this monumental merger and acquisition deal.
This merger paves the way for enhanced operational capabilities and a broader service portfolio.
It positions Transonic Jet Sdn. Bhd. as a key player in the air freight sector while strengthening its foothold in private air charter and pilgrimage-related flight services.
In response to the changing dynamics of the aviation industry, Transonic Jet Sdn. Bhd. is committed to implementing innovative solutions and advanced technologies.
According to Ahmad Sufiani, this strategic move not only aligns with industry trends but also ensures a competitive edge for the newly merged entity.
“The investment plan earmarked for the development of Malacca International Airport underscores Transonic Jet Sdn. Bhd.’s 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,” said Ahmad Sufiani after signing of MoU with My Jet Express Airlines Sdn Bhd in Kuala Lumpur today.
At the MoU, My Jet Express Airlines Sdn Bhd was represented by it’s chairman, Mohamed Yunus Mohamed Ishak while Ahmad Sufiani represent Transonic Jet Sdn Bhd.
The historical event was withness by Banco LQID (USA) director, Dato’ Sri Mohd Farmiezudin Nazarudin.
Banco LQID (USA) and Associated Bank stand as pillars of financial support for this ambitious venture.
Their confidence in Transonic Jet Sdn. Bhd.’s strategic vision and commitment to industry advancement is evident in their substantial backing, enabling the company to reach new heights.
Dato’ Sri Mohd Rossahizam, as the Chief Finance Officer and Executive Director, played a crucial role in securing the financial support necessary for the successful execution of this merger and acquisition.
His financial acumen and strategic foresight have been instrumental in shaping the financial architecture of this landmark deal.
Ahmad Sufiani, serving as the Executive Chairman and Managing Director, brings a wealth of experience and leadership to the combined entity.
His vision for Transonic Jet Sdn. Bhd.’s future aligns with the broader goals of the aviation industry, focusing on sustainability, innovation, and service excellence.
The success of this merger and acquisition is a testament to collaborative efforts and shared commitment to the growth and advancement of the aviation sector.