Press Release

Issued by Myanmar MJets Business Aviation Center.

August 2, 2014

Myanmar MJets has ushered in a new era in Myanmar's aviation industry with the inauguration today (2nd August 2014) of a world-class private jet terminal and a full-range business aviation facility.

The integrated facility, known as Myanmar MJets Business Aviation Center (MMBAC), located at Yangon International Airport, is the first of its kind in the republic where private jet traffic looks set to grow tremendously.

MMBAC is a 50:50 collaboration between MJets Limited, the pioneer of private jet terminal and fixed-based operation (FBO) in Thailand, and Wah Wah Group, Myanmar's leading aviation business enterprise, with support from Myanma Airways, the national carrier of Myanmar and Myanmar's Department of Civil Aviation.

MMBAC will address the long-standing shortcoming for dedicated international standard facilities and services to properly cater to discerning high net worth individuals who travel on corporate jets through Myanmar.

"There have been many wealthy and discerning aircraft owners requesting vip treatment at Myanmar airports which I could not provide because facilities like what MMBAC has built simply did not exist," Ohn Myint, founder and chief executive of Wah Wah, related to his 16-year experience of handling corporate aircraft in the republic.

MMBAC will not only fill the gap but will elevate Myanmar's aviation industry into the next chapter of development and modernization, he noted.

MJets executive chairman, Jaiyavat Navaraj said MJets has brought its combined wealth of experiences, world-class professionalism and support garnered since its inception in 2007 to bear fruit with the opening of the MMBAC.

"MMBAC will share similar high-standard of service quality as rendered at MJets fixed base operation in Bangkok (at Don Mueang International Airport)," he asserted.

Located next to Yangon International Airport's domestic passenger terminal, MMBAC boasts a luxurious executive lounge over a 2,800 sq ft area complemented with a shower facility, a business center, four crew day rooms and an office for flight planning and crew briefings.

The two-storey MMBAC also has a direct access to the 32,000 sq ft hangar owned by Myanma Airways and where MMBAC users can keep their aircraft.

There is dedicated on-site customs and immigration clearance including a security screening check point with built-in baggage X-ray machine. A car park for 100 vehicles is available adjacent to exclusive access to the MMBAC.

Part of the ground handling activities including ramp service will be provided by Myanma Airways under an operational support agreement with Myanmar MJets.

Surging demand

Private jet movements through Myanmar, mostly via Yangon, are expected to grow strongly due the opening up of the republic for a new face of national development in over half a century with foreign investment, business and tourism flows surging.

Myanmar is attracting growing numbers of top officials from international governments and foreign missions, corporate executives, billionaires, celebrities and even honeymoon couples who travel on private jets.

"When I entered the ground handling business for private jets in Myanmar 16 years ago, there was only one aircraft a year, rising to five in the second year and 15 in the third year. This year we will have 300 flights," stated Mr Ohn Myint about the trend.

The outlook is for the private jet flights passing through Myanmar, especially Yangon, to double to 600 flights in the third year of MMBAC's operation, and we are well positioned to accommodate the demand, added Mr Jaiyavat.

Mr Ohn Myint estimated that about 10% of the total traffic will be for air ambulance - mostly patients from Myanmar seeking medical treatment in neighboring countries like Thailand and Singapore.

Partnership

Myanma Airways has expressed a keen interest to elevate its operation partnership with Myanmar MJets to a stakeholder.

"It is our intention to become a joint venture partner with Myanmar MJets because of the merits of the project, and that will be the next step once our operation partnership works out well for a while, subject to (Myanmar) government approval," Myanma Airways' managing director, Mr. Than Tun said.

However, he indicated that the possible joint venture would follow the Myanmar Investment Commission's guidelines which allow for a 51% ownership in the venture, leaving the remaining 49% to Myanmar MJets.

Meanwhile, MJets and Wah Wah would raise the bar of their alliance in the future by introducing private jet terminal/FBO facilities to other major cities in Myanmar such as Mandalay, Bagan and Nay Pyi Taw where demand is expected to grow as well.

“Let's see our first venture in Yangon up and running well first before moving on to those possibilities,” noted Mr Ohn Myint.

For MJets Ltd, Myanmar MJets marks the beginning of its overseas foray as it seeks to become a regional player in the business aviation sector.

"There are potential locations in Asia on our radar screen where we want to establish a presence in the near future," the MJets' executive chairman stated.