Aviation/ MJets

Editorial staff

MJets Co, a leading full-service private jet and general aviation provider in Thailand, has announced an investment of 17 million SGD in WingsOverAsia Pte Ltd, a Singaporean private jet service provider.

Its investment is aimed at expanding its network more comprehensively across Southeast Asia and other Asian countries, hoping to become one of the Asia's leading private jet service provider within the next 2-3 years. Also, this is to align with the growth trends in the private jet industry in the region.

William Ellwood Heinecke, co-owner and director of MJets, said that private jet and general aviation market is continuing upward trend in Southeast Asia. According to Mordor Intelligence, a market research organization, it forecasts a compound annual growth rate (CAGR) of 14.36% and the market value is expected to rise from US$ 463.39 million in 2024 to US$ 906.39 million in 2029.

From left: Kirit Shah, co-owner and director of MJets Limited; William Ellwood Heinecke, co-owner and director of MJets Limited; Natthapatr Sibunruang, CEO of MJets Limited; Ng Yeow Meng, founder and managing director of WingsOverAsia; Raymond Yang Hon Mun, director WingsOverAsia Pte Ltd

This growth is driven by the tourism sector and the increasing number of high and ultra-high net worth individuals seeking superior travel experiences, as well as the rise in business activities such as meetings, conventions, and inter-organizational networking events in the region.

All these factors contribute to the growing demand for personal aviation services, representing significant business opportunities.

“Given the stable performance and positive outlook for the general aviation industry in Southeast Asia, MJets has invested in “WingsOverAsia, a leading private jet and general aviation company with extensive network in Southeast Asia, along with holistic private jet facilities and services in Singapore,” Natthapatr Sibunruang, chief executive officer of MJets, said.

He added that this movement not only lays a foundation for MJets to expand its business operation in the region, but also serves as a long-term investment plan to drive the business further and become a world-class player within the industry.

With this synergy, Mr Natthapatr strongly believes that the company will be able to achieve the expected goals, expanding its operations to cover all countries in Southeast Asia by 2026.

In addition to Singapore, MJets aims to increase investment and expand its aviation network in Asia this year and in the future with estimated investment of 17 million SGD per deal, reinforcing its leadership in the general aviation industry and striving to become the number-one comprehensive private jet service provider in Asia.

MJets was set up in Thailand in 2007 holding stakes by Kirit Shah and William Ellwood Heinecke, who are co-owner and director of MJets Limited.

MJets is recognized as the pioneering of private jet operator. The company expanded its business to its fullest capacity by establishing the country’s first Fixed Base Operator (FBO) facility.

Currently, MJets operates in seven main business segments including aircraft charter services, air ambulance services, aircraft management, private jet terminal and VIP lounge services. It also provides aircraft maintenance services, comprehensive ground handling services and FBO facilities, as well as aircraft brokerage and consulting services.

At present, it has extended its aviation business to other Asian countries, including India, Myanmar, and Cambodia.

WingsOverAsia founded in 2009. Its services include aircraft sales and maintenance, aircraft management, flight training, trip support, in-house food and beverage, and exclusive lifestyle activities and concierge services for its members.

“With a comprehensive true one-stop-shop model and our expertise of servicing clients throughout Southeast Asia, we are confident to be an excellent growth partner for MJets in advancing the private aviation business in both the Southeast Asian and broader Asian markets. A next level service experience was created for aircraft owners and operators based in Southeast Asia,” Ng Yeow Meng, founder and managing director of WingsOverAsia,said