NEWS

2020 Budget a boon for airline industry revenue growth



NILAI, Oct 15 -- The 2020 Budget is a boon for the airline industry revenue growth as it also focuses on the development of the tourism industry.

AirAsia Group Bhd group chief executive officer Tan Sri Tony Fernandes said the target of 30 million tourist arrivals set by the government during the Visit Malaysia Year 2020 (VMY 2020) augurs well for the airline industry.

“It is a great budget... if more tourists come (our way), it will be hugely beneficial to Malaysia and also a great opportunity for Malaysia to promote tourism. 

“Of course, with the target of tourist arrivals through the Visit Malaysia 2020, it will contribute to business growth.

“The government has put a good budget. They are giving the tourism industry over RM1 billion.

“That's means Malaysia Airports (Holdings Bhd) must play a part and help airlines such as AirAsia and Malaysia Airlines who have different markets to be able to grow and take part in (this) wonderful opportunity to grow tourism in Malaysia,” he told reporters after launching an 18-month A-level programme at Epsom College here, today.

Fernandes said the government's initiative to continue focusing on the development of the tourism sector is a necessary step as it is one of the major contributors to gross domestic product.

Asked whether AirAsia will hold promotions for the VVM2020, he replied, “Certainly.”

Finance Minister Lim Guan Eng, in his 2020 Budget presentation last week, announced that RM1.1 billion will be allocated to the Ministry of Tourism, Arts and Culture to brand Malaysia as a major tourist destination, with the target of achieving 30 million tourist arrivals.

-- BERNAMA





OTHER NEWS

Budget 2022: Impact on fixed income market almost negligible, says Manulife

KUALA LUMPUR, Nov 12 -- The impact from Budget 2022 on the fixed income market is almost negligible, given that there were no major surprises in terms of the country’s debt financing requirement and fiscal position, said Manulife Investment Management (Manulife).


Govt needs to look for other ways to increase revenue beyond Budget 2022 taxes - Expert

KUALA LUMPUR, Nov 11 -- Budget 2022 tax initiatives may not contribute significantly to government revenue and there is a need to look for other ways to increase it for the sustainable economic growth of the country, according to a tax expert.


Budget 2021 formulated based on valid data - MoF

KUALA LUMPUR, Dec 16 -- Budget 2021 was formulated based on reports presented by relevant bodies whose data could be determined to be valid, the Ministry of Finance (MoF) said.


HIGHLIGHTS


EXCLUSIVE


ECONOMIC REPORT

Budget 2021: MoT to provide incentives to lighten people’s burden - Wee 

KUALA LUMPUR, Nov 19 -- The Ministry of Transport which receives RM6.05 billion allocation under Budget 2021, will be providing various incentives to benefit the people.


2021 Budget : MAFI, private sector must co-operate to optimise Budget 2021

KUALA LUMPUR, Nov 16  -- The Ministry of Agriculture and Food Industries (MAFI) and the private sector must escalate co-operation to optimise the allocation in the 2021 Budget to MAFI so that ...

Budget 2021 described as inclusive for all in tourism sector

KUALA LUMPUR, Nov 9 -- The inclusive Budget 2021 touching on the involvement of various parties contributing to the economic chain related to the tourism sector is seen capable of revital...



BNC LIVE


BUDGET SPEECH



© 2024 BERNAMA. All Rights Reserved. Disclaimer | Privacy Policy | Security Policy This material may not be published, broadcast,
rewritten or redistributed in any form except with the prior written permission of BERNAMA.

Best viewed in Firefox 58.0.1 (64-bit) & Chrome Version 63.0.3239.132 (Official Build) (64-bit) with 1920 x 1080 resolution