As part of its latest venture in private aviation, MJets has signed an agreement with Sersol Berhad that will see the two companies set up a joint venture company (JVC).
The JVC will offer aircraft charter services, ground handling services and aircraft management, and bring a fleet of private jets into Malaysia and Indonesia. The new JVC will have a 50:50 equity split made up of cash and non-cash contributions to the venture.
“With 15 years of experience in private jet services and maintenance experts for the aviation industry, we believed that MJets has the capability and strategic approach to soar towards success with the development and expansion of private jet services in Southeast Asia,” said Natthapatr Sibunruang, chief executive officer at MJets. “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.”
“Sersol is taking steps to expand our business into aviation, technology, sustainable energy, property development, telecommunication and healthcare, elevating the company to new heights,” said Datuk Wira Justin Lim, Sersol Group managing director. “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.”
The heads of agreement signing was witnessed by Yang di Pertua Negeri of Melaka, Tun Seri Setia Dr. Haji Mohd Ali Bin Mohd Rustam.