Malaysian Airlines Group purchases 20 new A330neo flights

Tuesday, August 16, 2022

20 new A330neo flights are acquired by Malaysia Aviation Group. It is part of their modernisation plan. They signed Memorandums of Understanding (MoU) with Airbus, Rolls-Royce and Avolon. The aircraft is powered by Rolls Royce Trent 7000 engines. Malaysian airlines directly bought 10 aircraft from Airbus which includes a back-to-back sale and leaseback arrangement. The rest of the 10 flights are leased directly from Avolon.

The A330neo will replace the A330ceo fleet after the delivery. This will gradually start operating in the existing network throughout Asia, Oceania and the Middle Eastern countries. The transaction includes 20 A330neo purchase rights to provide flexibility for the Group to realise future growth opportunities. The aircraft are scheduled to be delivered on MAG. These will start from the third quarter of 2024 through to 2028.

The group announced that they are working on a steady partnership with Airbus. The plan is to promote sustainable aviation, sustainable training, airspace management and aircraft management. The event was adorned by the presence of Mr Datuk Seri Ir D. Wee Ka Siong. He is the minister of Malaysia.

Izham Ismail who is the Group Chief of Executive Officer in MAG said that after extensive struggle and battling in the competitive atmosphere the company has finally achieved the target that they wanted for controlling damages from the pandemic.

He also said that the acquisition of the A330neos is a natural transition from their existing current A330ceos fleet. The A330neo will not only provide modernisation to their fleet and enhanced operational efficiency. But also introduce environmental security with reduced fuel burn per seat. This will help reduce costs for passengers and keep their comfort and safety a priority. MAG authorities consider it to be important for their long-term business growth plan.

Currently, Malaysian Airlines Group owns a fleet size of 106 aircraft system-wide. There are 24 A330s, six A330-200s,15 A330-300s and three A330Fs. These are utilised by airlines under the Group, Malaysian Airlines and by Malaysia airlines with it’s cargo arm, which is called MABkargo.

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