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Azmin: Aerospace industry to regain pre-pandemic revenue levels as early as next year | Malay Mail

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KUALA LUMPUR, April 22 ― The aerospace industry is expected to rebound and regain its pre-pandemic revenue levels as early as next year, said Senior Minister cum International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali. He said this is achievable if Malaysia continues to capture new...

Thursday, 22 Apr 2021 10:23 AM MYT

He said this is achievable if Malaysia continues to capture new work packages with a positive impact on the whole ecosystem through product localisation. Azmin Ali said the Covid-19 pandemic took a heavy toll on Malaysia’s aerospace industry with the overall revenue shrinking between 20 per cent and 30 per cent in 2020 compared to 2019’s revenue of RM16.22 billion.

“Most of the manufacturing and services activities of aerospace were halted, while some of the workforce were laid off due to the worldwide travel restrictions, grounding commercial and business aircraft.

 

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