MYAirline has announced six ground breaking agreements during a Memorandum of Understanding signing spree at LIMA ’23.
The signing of these MOU’s has secured the future of new airline in the industry and propels them ahead into the rest of 2023. Present at LIMA ’23 was Yang Berhormat Tuan Anthony Loke, the Minister of Transport of Malaysia to witness these historic signings take place.
The first MOU
The first MOU signed at LIMA ’23 regards maintenance for MYAirline’s fleet of A320s. To be specific, MYAirline’s contract with SIA Engineering Company has now been extended to include wheels and brakes services.
These new services will cover the pooling and repair of the wheels and brakes on the airline’s fleet. At present, MYAirline’s fleet consists of 7 Airbus A320s with significant growth expected throughout the rest of the year.
Major leasing company deals signed
As part of the airline’s extensive growth plans, MYAirline has secured deals with a large range of world renowned aircraft leasing companies. These aircraft lessors include Aircastle, Avolon, Genesis and SMBC Aviation Capital.
Growing on the idea of the significant growth the airline expects to see this year, these lessor signings will allow MYAirline’s fleet to grow to 17 aircraft by years end.
The total cost of the fleet expansion will cost the airline 450million USD.
A groundbreaking joint venture also signed
The last of the 6 new signings made at LIMA ’23 was a new joint venture signed alongside Menzies Aviation. Menzies Aviation is a global leader in aviation services providing ground handling services for many airlines across the world.
As such this deal places MYAirline on the global stage with other airlines that Menzies is partnered with within just a matter of months since their launch in December 2022.
As part of this new signing, the 2 companies will now combine to create MYMenzies, which will become the largest ground handling service providers in Malaysia.
The aim behind the collaboration will look to provide the best passenger experiences possible and overall will operate under the Menzies Aviation brand.
CEO praises the signings
Commenting on the more than successful day at LIMA ’23, MYAirline CEO Rayner Teo said “The signing of these strategic partnerships at LIMA ’23 represents a pivotal moment in MYAirline’s journey”.
He added “These partnerships not only reflect our vision for growth but also underscore our commitment to delivering unparalleled customer experiences and operational excellence”.
“We would 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.”
The last part of Teo’s statement rings massively true, with just 6 months of operations under the airline’s belt and now with all these partnerships added on, MYAirline has an exciting rest of 2023 to look forward to.
