Malaysia Aviation Group signs deal to buy Airbus unit Sepang Aircraft Engineering
The logo of Airbus is picuted at the Airbus facility in Montoir-de-Bretagne near Saint-Nazaire, France, March 4, 2022. REUTERS/Stephane Mahe
KUALA LUMPUR, Oct 1 : Malaysia Aviation Group, the parent of national carrier Malaysia Airlines, said on Thursday it has signed a sale and purchase agreement to acquire Airbus unit Sepang Aircraft Engineering.
• The proposed acquisition will support MAG's long-term business plan to strengthen its engineering and maintenance capabilities, expand its services portfolio and grow third-party revenue, it said in a statement.
• No deal value was disclosed.
• The transaction, targeted for completion in 2027, remains subject to the fulfillment of customary conditions, including approval from Malaysia's civil aviation authority, MAG said.
