Malaysia Aviation Group sells MASwings airline to Sarawak state government
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The Malaysia Aviation Group has signed an settlement on the sale and switch of its MASwing airline to the Sarawak state government with the deal anticipated to be accomplished by the top of the yr. No monetary particulars of the deal got. It follows a memorandum of understanding signed with the Sarawak-owned Hornbill Skyways firm on October 27, 2023 to purchase a majority stake in MASwings from MAG.
“The transfer is expected to be completed by the end of the year, with MAG working closely with all stakeholders, including shareholder Khazanah Nasional Berhad, to ensure a seamless transition and compliance with all relevant legal and regulatory frameworks,” MAG mentioned in an announcement.
Throughout the transition interval, MAG mentioned MASwings will proceed working as ordinary underneath its purview, with no disruptions to flight schedules.
State media Bernama reported that the Sarawak government renamed MASwings to AirBorneo, with the airline anticipated to function as a full-service provider.
“By taking this strategic step, we’re positioning Sarawak as an aviation hub for Borneo and a gateway to ASEAN, opening doorways to new alternatives and fostering larger connectivity and accessibility to each home and worldwide locations,” state premier Abang Johari Tun Openg was quoted as saying.
Source: Reuters
The put up Malaysia Aviation Group sells MASwings airline to Sarawak state government appeared first on Travel Daily Media.