MMAG Holdings (KLSE:MMAG) subsidiary, MJets Air, signed an agreement with Mont Gabanon Airlines to sell a Boeing B737-400SF converted freighter for $2.8 million, according to a Monday Bursa Malaysia filing.
The buyer is the aviation arm of Congo-based Mont Gabaon SARLU, which will pay $1 million in an earnest deposit before inspection and $1.8 million balance after satisfactory inspection.
The transaction is expected during the fourth quarter of the year, with the company estimating a loss on disposal of around 12.7 million ringgit.
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