SWIFT Air Cargo

December 12, 2015

MASSB (MAHB) issued a statement, some of which is quoted below.


These three aircraft had been parked in KLIA since mid-2010 by Air Atlanta Icelandic – an aircraft leasing company who were the then owners of the said aircraft. Air Atlanta Icelandic subsequently de-registered these aircraft and dissolved responsibility over them when the ownership of the aircraft was transferred to Shaanxi Sunshine Cargo – a company based in China.”


The above information is somewhat inaccurate. AirAtlanta Icelandic is an airline based out of Kopavogur, Iceland. As is typical for many airlines, some aircraft flown by AirAtlanta Icelandic were leased aircraft. In this case, all (3) Boeings were not owned by AirAtlanta Icelandic, but were rather owned by Flugvik EHF. Flugvik EHF is an Icelandic company in Reykjavik, Iceland who leased them through various entities to AirAtlanta Icelandic. Flugvik EHF at the time, was a holding company managed by IAM Aviation.


TF-ARH (Spare parts aircraft without engines)

Sold from Flugvik EHF to Shaanxi Sunshine Cargo as part of the package deal with TF-ARN. The aircraft was then transferred to a Hong Kong entity, which then sold the aircraft to SWIFT on the 8th of June, 2015.


TF-ARM (with engines)

Sold from Flugvik EHF to a Turkish entity on the 29th of June, 2010. The Turkish entity then sold it to a Hong Kong entity on the 11th of January, 2011 and the Hong Kong entity then sold the aircraft to SWIFT on the 8th of June, 2015.


TF-ARN (with engines)

Sold from Flugvik EHF to Shaanxi Sunshine Cargo on the 18th of February, 2011. The aircraft was then transferred to a Hong Kong entity, which sold the aircraft to SWIFT on the 8th of June, 2015.


As can be seen above, 2 aircraft, TF-ARH and TF-ARN went from Iceland, through China to a Hong Kong entity and then to SWIFT, while TF-ARM went from Iceland, through Turkey to a Hong Kong entity and never was part of Shaanxi Sunshine Cargo.


The assumption MASSB (MAHB) made was that the company paying the parking fees on the aircraft was the aircraft owner. This is not necessarily the case. Quite often, an airline will have various companies handle different aspects of the airline such as parking, aircraft handling, consumables, food and beverage, minor aircraft maintenance and security. Thus, just because Shaanxi Sunshine Cargo was paying the parking fee of the (3) Boeings does not determine ownership of the said aircraft as is evidenced when Shaanxi Sunshine Cargo was paying the parking fee for TF-ARM although it had never been the owner of TF-ARM.


Quoting MASSB (MAHB), “Since then, the aircraft had not been registered under any company. Among others, registration of any aircraft requires the issuance of an Aircraft Operating Certificate (AOC) by a country’s civil aviation authority.”


This is typically accurate, but there are many exceptions such as banks and aircraft leasing companies. PMB, a subsidiary wholly owned by Khazanah Nasional of Malaysia, has owned most of the aircraft flown by MAS (Malaysia Airlines), yet PMB is obviously not an airline and when the aircraft are released by MAS, they are still registered, although not on MAS’ AOC and will typically be deregistered when the aircraft are registered with another entity, sometimes months to years later.


All of this is not to belittle the statement, but rather to show that an aircraft owner with registered aircraft does NOT have to be an airline as is evidenced when these (3) Boeings were sold to companies in China and Turkey which were not airlines. The aircraft remained on the Icelandic registration for about a year after being sold, as shown below.


Deregistration by the Icelandic Transport Authority:

TF-ARH owned by Shaanxi on the 18th of February, 2011 and deregistered on the 9th of June, 2011.


TF-ARM owned by the Turkish entity on the 29th of June 2010, then owned by the Hong Kong entity on the 11th of January, 2011 and deregistered on the 13th of January, 2012.


TF-ARN owned by Shaanxi on the 18th of February, 2011 and deregistered on the 13th of January, 2012.


Again quoting MASSB (MAHB), According to Tuan Haji Zainol Mohd Isa, General Manager of Malaysia Airports (Sepang) Sdn. Bhd., “As a responsible airport operator, Malaysia Airports undertakes to verify all claims of aircraft ownership with the relevant authorities. Thus far, we have not been able to do so to our satisfaction. As such, we urge the rightful owner to furnish us with the required information for verification purposes.” Malaysia Airports wishes to assure the public that our actions are in accordance to legal procedures and any future action will be handled privately with the rightful owner.”


SWIFT is thankful to MASSB (MAHB) that it is so thorough and at the same time, SWIFT would like to point out it has fully complied with the legal requirements to show it is the legal owner of the (3) Boeings with the Bill of Sales, 2 letters from the previous owner sent direct to MASSB (MAHB) at their request for verification. And finally, in an attempt to clear any questions MASSB (MAHB) had, a Statutory Declaration from the previous owner, stamped by the Malaysian consulate in Hong Kong; all pointing conclusively that SWIFT is the legal owner of the (3) Boeings.


In conclusion, since MASSB (MAHB) requests that further discussions be handled privately, then SWIFT will do so. SWIFT would like to state that it has the highest regard for Tuan Haji Zainol Mohd Isa as the General Manager of MASSB (MAHB) and the difficult position he is in when determining ownership with the complexity of numerous, international owners.


Malaysia is a wonderful warm country, a land of opportunity, especially in cargo and SWIFT is looking forward to working with MASSB (MAHB) in creating the regional cargo hub for ASEAN.


Yuna’s song succinctly portrays the beauty of Malaysia, truly Asia


December 10, 2015

The owner of the (3) B747’s parked at KLIA is SWIFT Air Cargo and SWIFT has not abandoned the aircraft!


SWIFT’s management was stunned to read the following excerpts:

Quoting CNN, “SOMEONE ABANDONED THREE B747’S AT KUALA LUMPUR INTERNATIONAL AIRPORT IN MALAYSIA.”


The Star newspaper article quoting MAHB (Malaysia Airports Holdings Berhad) “‘exhaustive steps’ were taken to find a contact person but its efforts had not been successful.”


The Malay Mail Online summed up the situation perfectly in their headline “Will the owner who forgot his three Boeings please collect them from KILA before they are sold!”


Except SWIFT Air Cargo, is the owner and SWIFT very much has not forgotten its (3) B747’s parked at KLIA!


SWIFT is a Kuala Lumpur based, Malaysian company and the owner of the (3) B747’s. SWIFT has in its possession, original supporting documents to show ownership of the (3) Boeings, which were signed by the previous owner, then signed by SWIFT as the new owner, followed by Syed Amir Ibrahim of Syed Ibrahim & Co., solicitors of KL, Malaysia who was a witness to the Bill of Sale; effective June 8, 2015. Liu Chan and Lam, solicitors in Hong Kong signed the Statutory Declaration for the previous owner while Cheung Ka Wai Francis signed as a Notary Public of Hong Kong followed by Othman Abdullah, who stamped the Statutory Declaration as the vice consul of the Consulate General of Malaysia in Hong Kong.


All the many various supporting documents, clearly state that SWIFT is the owner of all (3) B747‘s!


SWIFT is understandably very concerned when MAHB (Malaysia Airports Holdings Berhad) declares to the world that “exhaustive steps” were taken to find a contact person, yet SWIFT has been meeting with MAHB on a consistent basis.


The first meeting with MAHB was on June 18, 2015 with the Senior General Manager - Operations Services and with his supporting staff also present. Multiple meetings followed with each request for documentation supplied as requested. The last meeting occurred on October 12, 2015 with both the Chief Operating Officer and the General Manager present. Since then, SWIFT and MAHB have been communicating with letters and we were waiting for yet another meeting to present more documentation and information as requested by MAHB, when instead MAHB announced to the world that the owner of the (3) B747’s was missing.


Based on this evidence, SWIFT is unable to fathom the reason for MAHB’s declaration that it has taken “exhaustive steps” without being able to find a “contact person” when all along, SWIFT was fulfilling its obligations.


Correction: SWIFT had requested June 17, but the date of SWIFT’s first meeting with MAHB was on June 18.


Worldwide Coverage of the Missing Aircraft Owner

In no particular order


CNN   The Guardian   Straits Times   South China Morning Post CNBC   Sydney Morning Herald   Telegraph   FirstPost   India Times The Verge   The Week   Flying   Albany Daily Star   Financial Spots Telegraph Leader   Stuff   3 News


Malaysian Coverage of the Missing Aircraft Owner

In no particular order

The Star   The Malaysian Insider   The Malay Mail


For further information, please contact SWIFT:

SWIFT