MJets Limited (“MJets”) signs an agreement with Sersol Bhd today, as part of the Company’s latest venture into the private aviation industry, witnessed by Yang di Pertua Negeri of Melaka, Tun Seri Setia Dr. Haji Mohd Ali Bin Mohd Rustam.
MJets Asia’s leading private jet terminal (FBO) and luxurious private jet operator is partnering with Sersol, an ACE-listed company on Bursa Malaysia.
Under the agreement, the two companies will set up a Joint Venture Company (“JVC”) that will offer world-class aircraft charter services, ground handling services, and aircraft management and even bring in a new fleet of private jets into Malaysia and Indonesia.
This will be a synergistic partnership that promises positive revenue streams for both organisations. It is a 50:50 equity split in this new JVC made up of cash and non-cash contributions to the venture.
The local private aviation industry is set to see a brand-new range of state-of-the-art private jet services with this JVC, which is expected to improve travel options at competitive prices following its entry into the market.
The Heads of Agreement was signed by MJets Chief Executive Officer, Natthapatr Sibunruang and Sersol Group Managing Director, Datuk Wira Justin Lim, and was witnessed by Yang di Pertua Negeri of Melaka, Tun Seri Setia Dr. Haji Mohd Ali Bin Mohd Rustam.
“With 15 years of experience in private jet services and maintenance experts for the aviation industry, we believe that MJets has the capability and strategic approach to soar towards success with the develop and expansion of private jet services in Southeast Asia.
We are thrilled to come into an agreement with Sersol and look forward to the future development and long-term relationship of our partnership and this flagship project in Malaysia and Indonesia,” said Natthapatr Sibunruang, Chief Executive Officer of MJets.
“Sersol is taking steps to expand our business into aviation, technology, sustainable energy, property development, telecommunications and healthcare, elevating the company to new heights. We believe the private jet charter aviation sector offers a blue ocean opportunity to enter Malaysia and Indonesia’s aviation sector. There is increasing demand within differentiated market segments desiring safe and reliable travel options easing travel complications,” said Datuk Wira Justin Lim.
Datuk Wira Justin Lim believes that this JV provides a strategic growth opportunity for the Group – as the private jet and related businesss and possibility of expansion of a world-class FBO is a relatively new industry segment for the Malaysian and Indonesian aviation sectors, as the JV taps into the increasing demand preference for private charters by high net worth individuals. Additionally, since the Covid Pandemic hit, many passengers worldwide are seeking safer ways to travel without complications of being exposed to infections.
As reported in Newswire in March this year, the global private jet market is expected to surge due to the increase in travel demand. Over the forecasted period 2022-2030, Asia- Pacific will remain one of the world’s largest markets.
