Bravia Capital (Bravia), a private equity investor based in Hong Kong and HNA Group Company, Ltd. (HNA) of China, announced today that they have completed the acquisition of cargo carrier ACT Airlines (Istanbul). According to the announcement, “The transaction represents the strategic expansion of China’s global footprint into the high-growth marketplace of Turkey and surrounding regions, and allows Bravia and HNA to build a cargo platform to capitalize on the growing Eurasian cargo traffic.”
As a result of the acquisition, ACT Airlines has been rebranded and will now trade as MyCargo Airlines.
Copyright Photo: Rainer Bexten. Please click on the photo for the full details.
ACT Airlines (Istanbul) will soon have new investors as it plans to increase its freighter fleet. The HNA Group is planning to acquire a 49 percent share in the airline for $25 million and also add Boeing 747-400 and 767 freighters in Turkey. ACT Airlines will also change its name to MyCargo.
ACT Airlines’ (Istanbul) Airbus A300B4-203 (F) freighter, registered TC-ACB (msn 121) operating for DHL Airways yesterday (March 1) overshot the runway at Bagram Air Base in Afghanistan, closing the runway. The left main gear reportedly failed on landing causing the engines to shear off.