Established in 2004, the company changed ownership in March 2006 when Turkish aviation veterans Yavuz Cizmeci and Cankut Bagana teamed up with HBK Investments to acquire the company. In February 2008, a 21 percent equity stake was acquired by Manara Investments Ltd. Manara is a newly established 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 (owners of Hainan Airlines and various subsidiaries) have taken a majority share in ACT Airlines rebranding the company as MyCargo, originally a label that ACT carried on its aircraft. They have also added two Boeing 747 Converted Freighters to the airline's fleet, these are painted in the new corporate identity of HNA group.