The Malaysia Aviation Group is set to further modernize the carrier’s fleet with an order for 20 new Airbus A330-900s (A330neo) which are expected to operate on major Australasian routes.
The A330neo will replace the Group’s current A330ceo fleet and, upon delivery, will be progressively operated within its existing network in Asia, Oceania and the Middle East.
“After a thorough technical evaluation and a very competitive process, we are delighted to have reached a strategic agreement with our partners on the renewal of our wide-body fleet through the acquisition of 20 A330neos”, declared the CEO of Malaysia Aviation Group, Izham Ismail.
“The innovative, cost-effective and successful three-party approach provides a holistic solution for fleet owners that is financially viable for MAG, as we secure a lower and stable cost base, and with the assurance of supporting funding.
“The acquisition of the A330neos is a natural transition from our current fleet of A330ceos, but the A330neo will not only modernize our fleet and improve operational efficiency, but also meet environmental objectives. reducing fuel consumption per seat while keeping passenger safety and comfort at its heart.
“This is an important milestone as the group moves towards successfully executing its long-term Business Plan 2.0 to position itself as a leading aviation services group in the region.”
MAG currently has a system-wide fleet of 106 aircraft, including 24 A330s – six A330-200s, 15 A330-300s and three A330Fs, operated by group airlines, Malaysia Airlines and AMAL by Malaysia Airlines as well as its cargo arm, MABkargo.
The A330 first entered service with Malaysia Airlines in 1995 and has become a proven and popular choice with passengers traveling on its Asia-Pacific route network.
The transaction includes 20 A330neo purchase rights to give the Group the flexibility to realize future growth opportunities and the aircraft are expected to be delivered to MAG from the third quarter of 2024 until 2028.