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Asia Cargo Network (ACN) turns into main investor in MAE Aircraft
with a 49% stake in the business
SINGAPORE, Nov. 9, 2022 /PRNewswire/ — Southeast Asia’s main air cargo constitution companies supplier, the Asia Cargo Network (ACN) group, and Bahrain’s MENA Aerospace, announce the signing of a major partnership and strategic alliance between the two aviation firms, extending ACN’s attain into the Middle East, South Asia and Africa as a part of its international growth plans.
The pivotal cargo partnership settlement was signed at the Bahrain International Airshow, by ACN Group CEO, Marco Isaak and Founder and Managing Director of MENA Aerospace, Dr Mohammed Juman. Under the settlement, ACN plans to base six of its cargo planes in Bahrain and the GCC the place it’s going to serve the market in the MENA area in addition to cargo routes into and from it.
ACN shall be a shareholder with a 49% stake in MAE Aircraft Management WLL with this vital FDI funding into Bahrain. The funding consists of capital, asset deployment, administration companies and experience. The partnership facilitates growth and rising international attain of cargo companies past Southeast Asia and the Middle East.
ACN’s Group CEO Marco Isaak remarked, “We’re incredibly proud of this historic milestone for Asia Cargo Network as we expand our operations into the MENA region. Our partnership with MAE is a testament to our commitment to excellence, and we look forward to cementing our reputation as a strong global player in the industry.”
The deployment shall be over the subsequent 18 months with the first of its six plane to incorporate a B737-800F and B767-300F because of arrive inside the subsequent two months, and to start operations instantly. ACN’s aircrafts and MEA’s current Boeing 737-300 transformed freighter develop the operational fleet inside the area.
Commenting on the strategic alliance, Dr Juman mentioned, “As part of our growth plan, over the past couple of years we looked at and analysed the regional markets to see where the growth is and where the gates are to the global markets. The growth and potential we saw is mainly in the GCC area, Africa and Southeast Asia. Our thought process was to try to link and serve these markets. ACN as the leading freight cargo operator in Southeast Asia was identified as the perfect partner for MAE to expand our services in these markets. We are certain that this partnership will prove fruitful to both companies and the markets that we serve.”
The partnership operations shall be beneath the MENA Cargo model, the freight cargo subsidiary of MAE. The operations shall be absolutely managed by ACN transferring ahead because it holds an Air Operator’s Certificate (AOC) in Bahrain which permits for the growth of routes to the MENA area. ACN shall present all the vital help for the operational and strategic progress of the airline in step with its SEA plans.
ACN is Southeast Asia’s main air cargo constitution companies supplier with a rising regional and worldwide presence in Indonesia, Malaysia, Singapore, and with this strategic alliance, the Middle East, South Asia and Africa. As the mother or father firm to a few regional airways together with Asia Cargo Airlines, World Cargo Airlines and RGA Airlines, the Group has garnered a number of awards together with Changi Airport’s commendation as a ‘Top Cargo Operator’, and extra just lately Payload Asia’s ‘Rising Cargo Carrier of the Year’.
MENA Cargo was established in 2020 and was awarded an AOC by Bahrain’s Ministry of Transportation and Telecommunications Civil Aviation Affairs (CAA) division in 2021. Bahrain-based MENA Cargo offers scheduled in addition to constitution air cargo companies throughout underserved markets in the Middle East, South Asia and Africa.
With Bahrain’s tactical location at the crossroads of rising markets on three continents, the ACN-MEA strategic partnership positively contributes to strengthening the kingdom’s positioning as a worldwide logistics nexus.
View authentic content material:https://www.prnewswire.co.uk/news-releases/asia-cargo-network-singapore-announces-international-expansion-into-the-middle-east-301673023.html
