Malaysia's aerospace industry hoped to rebound early next year

Recovery of the Malaysian aerospace industry will be expedited if the industry can expand its MRO services (Photo: Reuters)

Kuala Lumpur (VNA) – The Malaysian aerospace industry is expected to rebound and regain pre-pandemic revenue levels as early as next year, Minister of International Trade and Industry Mohamed Azmin Ali has said.

He noted the target would be realised if Malaysia can continue to capture new work packages with positive impact on the whole ecosystem through product localisation.

In his keynote address at the Airbus Malaysia Connect Webinar on April 22, Azmin said the recovery would be expedited if the industry can further expand its air cargo services, business aviation, maintenance, repair and overhaul (MRO) as well as professional training services.

He emphasised that the COVID-19 pandemic continues to weigh heavily on Malaysia's aerospace as revenue shrank between 20-30 percent in 2020 compared to 2019's revenue of 16.22 billion MYR./.

VNA