Airbus: Work value in Malaysia sets to hit US$550mil

KUALA LUMPUR: The value of Airbus work undertaken in Malaysia is set to hit US$550mil (RM2.24bil) per year by 2023, on the back of higher production rates, the company’s investment in its local subsidiaries and joint ventures, as well as potential new projects currently under evaluation.

Airbus Asia Pacific president Jean-Marc Nasr said the US$550mil is up over a third from US$400mil (RM1.62bil) in 2018.

“The drivers for growth will be the increase in air traffic production and maintenance, repair and overhaul services,” he said at a briefing today ahead of the upcoming LIMA 2019 air show.

Nasr also said passenger traffic growth over the next 20 years is projected to grow 5.5% annually in Asia Pacific compared with 4.4% for the rest of the world.  

Airbus’s local suppliers include CTRM, SME Aerospace, Spirit AeroSystems and SDMK.

Malaysia is Airbus’ third largest market in the Asia Pacific region after China and India, with the country’s airlines having ordered more than 700 commercial airliners from the company.

Today, around 300 commercial aircraft and more than 100 helicopters manufactured by Airbus are in service in the country.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3



Did you find this article insightful?


Next In Business News

Palm oil prices climb to highest in over 10 years
Stanley Choi: Not ruling out possibility of acquiring more shares in AirAsia
Magni-Tech net profit jumps on higher sales, better cost
FGV rejects Perspective Lane offer�
Favelle Favco secures offshore crane orders worth RM101.4mil�
KLCI continues its winning streak
Labour curbs seen costing Malaysia's oil palm industry $3b in annual revenue
Sarawak's infra spending to boost Perbena Emas' outlook, Pansar says
Tengku Zafrul: Worst is behind us, Malaysia will emerge stronger by year-end
Brent jumps past US$70 after Saudi facilities attacked

Stories You'll Enjoy