The Malaysia Aviation Group is set to further upgrade the carrier’s fleet with an order for 20 new Airbus A330-900 (A330neo) aircraft which are set to operate on key Australasian routes.
The A330neo will replace the Group’s existing A330ceo fleet and upon delivery, will gradually operate in its existing network throughout Asia, Oceania, and the Middle East.
“After an extensive technical evaluation, and a very competitive process, we are delighted to have reached a strategic agreement with our partners on the renewal of our widebody fleet through the acquisition of 20 A330neos,” said Malaysia Aviation Group CEO, Izham Ismail.
“The innovative, cost effective, successful tripartite approach offers a holistic solution to fleet owners that is financially viable for MAG as we secure a lower and stable cost base, and with assurance of support financing.
“The acquisition of the A330neos is a natural transition from our current A330ceos fleet, but the A330neo will not only provide modernisation to our fleet and enhanced operational efficiency, but also meet environmental targets through reduced fuel-burn per seat while keeping passenger safety and comfort at its core.
“This is a significant milestone as the Group moves ahead towards the successful execution of our Long-Term Business Plan 2.0 to position itself as a leading aviation services Group within the region.”
MAG currently owns a fleet size of 106 aircraft system-wide, of which there are 24 A330s – six A330-200s, 15 A330-300s and three A330Fs, utilised by airlines under the Group, 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 flying on its Asia-Pacific route network.
The transaction includes 20 A330neo purchase rights to provide flexibility for the Group to realise future growth opportunities and the aircraft are scheduled to be delivered to MAG starting from the third quarter of 2024 through to 2028.