NSTbusiness: Khazanah Nasional Bhd has reaffirmed its commitment that it will continue to support MalaysiaAirlines Bhd, via its parent company Malaysia Aviation Group Bhd. MAS coronavirus covid19
A source from Khazanah said the support is deemed as ‘strategic needs’ of Malaysia to maintain air links amid the Covid-19 crisis.
Malaysia’s economy was boosted with a total of RM84.1 billion in tourist receipts backed by expenditure from 25.83 million of international tourists who visited Malaysia throughout 2018, according to Tourism Malaysia data. International Air Transport Association said local airline industry could wipe out about US$3.32 billion in revenue and US$3.80 billion in potential GDP contribution to Malaysia’s economy this year.
In its latest analysis, IATA revealed that the repercussion was based on a scenario in which severe travel restrictions last for three months, followed by gradual recovery. “Cambodia and Vietnam and the Philippines will be on the lower end of the range, while Thailand , Pakistan , Republic of Korea and Sri Lanka will see the largest impact,” he added.
“But others in the region, including India, Indonesia, Japan, Malaysia, the Philippines, Republic of Korea, Sri Lanka and Thailand, have yet to take decisive and effective action. Jobs as well as the GDP supported by the industry are at risk,” said Clifford.
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