LANGKAWI, MALAYSIA, 25 May 2023 – MYAirline announced six groundbreaking agreements during a Memorandum of Understanding (MOU) signing session at LIMA ’23 today. These strategic partnerships provide significant milestone in MYAirline’s journey and propel the airline to new heights. The esteemed signing ceremony was graced by the presence of Yang Berhormat Tuan Anthony Loke, the Minister of Transport of Malaysia.
The first MOU entails the extension of the existing A320 comprehensive component support program with SIA Engineering Company (SGX: S59) to include wheel and brake services. These additional services will cover pooling, and repair and overhaul of wheels and brakes for MYAirline’s fleet.
In line with MYAirline's ambitious growth plans, the company has secured leasing agreements with several renowned aircraft lessors, including: Aircastle, Avolon, Genesis, and SMBC Aviation Capital. This strategic move will bolster the airline's fleet, resulting in a total of 17 aircraft by the end of 2023, valued at a combined USD 450 million. As MYAirline operates as a single-model operator, the fleet expansion will predominantly consist of the Airbus A320-200 narrowbody aircraft.
Additionally, MYAirline also announced a groundbreaking joint venture partnership with Menzies Aviation, a global leader in aviation services. This strategic collaboration will establish MYMenzies as one of the largest ground handling service providers in Malaysia, with MYAirline holding the majority of the shareholding. By integrating ground handling services, MYAirline aims to deliver seamless and superior passenger experiences. The MYMenzies joint venture will operate under the Menzies Aviation brand.
“The signing of these strategic partnerships at LIMA '23 represents a pivotal moment in MYAirline's journey,” said Rayner Teo, CEO of MYAirline. “These partnerships not only reflect our vision for growth but also underscore our commitment to delivering unparalleled customer experiences and operational excellence. We extend our sincere appreciation to Yang Berhormat Tuan Anthony Loke and Ministry of Transport Malaysia for the unwavering support. We would also like to express our gratitude to our esteemed partners in the industry for their collaboration and trust in our capabilities. With just six months of operations, MYAirline is poised for an exciting future, and we look forward to serving more passengers and sharing more initiatives in the days to come.”
MYAirline is expanding its international footprint, building upon its recent route expansion to Bangkok. The airline currently operates on nine routes, including eight domestic routes to and from Kuala Lumpur International Airport Terminal 2, in addition to an intra-Sabah route. Since commencing operations on 1st December 2022, MYAirline has already served over 800,000 passengers on its existing fleet of seven aircraft.