The story
Established in 2004, the company changed ownership in March 2006 when Turkish aviation veteran Yavuz Çizmeci teamed up with HBK Investments to acquire the company. In February 2008, a 21% equity stake was acquired by Manara Investments Ltd. Manara is an investment vehicle sponsored by four leading Saudi business groups. New partners and existing shareholders expect ACT Airlines to become a leading regional and international player.
ACT received the prestigious SCATA Supply Chain and Transport Award for ‘The Air Cargo Operator of the Year’ in recognition of its exceptional customer service in 2007. The airlines also applied for IATA certification after completing the IATA Operational Safety Audit in 2007.
In 2011, China's HNA Group (partnered with Bravia Capital) bought 49% of the shares of ACT Airlines. 50.9% of the shares remain with Daglar Çizmeci and 0.1% with other Turkish holders. ACT Airlines rebranded as myCargo after this alliance took place. In August 2017 HNA swapped its shares in MyCargo for another subsidiary in Turkey, leading to airline going back to full ownership with its admin and operating as ACT Airlines once again, with fleet gradually being repainted to the brand Air ACT.
From Wikipedia’s article on Air ACT, shared under CC BY-SA 4.0.4
