New Malaysian-based charter airline

Aiming to tap the passenger charter and cargo wet lease market, Malaysiabased Eaglexpress has recently signed a contract with Malaysia Airlines’ (MAS) parent, Penerbangan Malaysia Berhad (PMB), for the purchase of a former MAS B747-400, with plans to purchase two more B747-400s from PMB for delivery in March and April.


New Malaysian-based charter airline


Aiming to tap the passenger charter and cargo wet lease market, Malaysiabased Eaglexpress has recently signed a contract with Malaysia Airlines’ (MAS) parent, Penerbangan Malaysia Berhad (PMB), for the purchase of a former MAS B747-400, with plans to purchase two more B747-400s from PMB for delivery in March and April.

The new carrier expects to receive its AOC in mid-February and will operate charter flights on behalf of travel agents, including services from Malaysia to Australia, South Korea and China. It has already first struck a RM35 million deal with a travel agent to roll out haj and umrah flights from March to September, carrying 15,000 passengers to Jeddah, Saudi Arabia.

The carrier also plans to acquire one B747-400F that will be used to launch wet-leased freighter services in April from Kuala Lumpur to Los Angeles and Anchorage via Seoul’s Incheon International Airport.

Once it has established its widebody passenger business, Eaglexpress aims to expand into narrowbody passenger charters using B737-800s to destinations within Asia and ultimately is hoping to acquire B747-8s and B787s, with a vision of a 20 aircraft fleet within the next three to five years.

The new airline is owned by South Korean pilot, Captain Shin Man Soo (40 per cent), ex-MAS pilot Captain Azlan Zainal Abidin (20 per cent), ex-director of Mayban Finance Wan Ismail bin Abdul Rahman (20 per cent), and ex-director general of Immigration for Malaysia, Ase Bin Haji Che Mat (20 per cent). The four hold the main executive and directorial positions at the carrier which is currently funded by investors from South Korea, the Middle East and Malaysia. The carrier is aiming to break even in the second year, with a revenue of US$100 million in its first year of operations.