THE Malaysian aerospace industry saw volume dropped by 40% last year as airlines around the world were slower to take delivery of aircraft to survive the Covid-19- induced crisis.
Malaysia Airlines Bhd’s (MAB) creditors, for instance, are set to meet today to decide on the fate of the cash-strapped national airline’s restructuring plan.
The lessors are among 40 creditors set to vote to decide if MAB would continue to fly in the future, in which it needs approval from lessors holding at least 75% of the RM16 billion.
With the aviation industry in such turbulent times, Malaysian Aerospace Industry Association (MAIA) president Datuk Naguib Mohd Nor said most of the affected delivery rate involved single-aisle aircraft, such as Airbus A320 and Boeing 737, at the original equipment manufacturers’ (OEMs) level and thus trickled down to parts and components suppliers in Malaysia. Read more..