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Investing.com -- Malaysia Aviation Group (MAG), the parent company of Malaysia Airlines, has announced plans to acquire 30 new Boeing (NYSE:BA) 737 aircraft for delivery in 2029. This move is part of the group’s strategy to modernize its fleet and recover from previous challenges.
The order includes 18 Boeing 737 MAX 8 and 12 of the 737 MAX 10 planes, confirmed by MAG managing director Izham Ismail. However, the financial details of the deal have not been disclosed by MAG.
The conglomerate, which also includes short-haul airline Firefly and pilgrimage airline Amal, operates a mixed fleet of Airbus and Boeing planes. It remains unclear how the new planes will be distributed among the group’s carriers.
Malaysia Airlines has faced difficulties in recovering from two fatal incidents in 2014. Since then, the airline has been focusing on renewing its fleet. After being delisted in 2014, the airline’s former parent company, Malaysian Airline System, underwent restructuring and emerged as MAG, now owned by the sovereign wealth fund Khazanah Nasional.
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