All in, Affin Hwang Capital said 2020 has been an unprecedented, challenging year for the aviation industry. “We expect both AirAsia and Malaysia Airports to report substantial losses in 2020 due to lower passenger movement arising from cautious sentiment, the closure of borders and movement restrictions during the movement control order (MCO) and conditional MCO period."
PETALING JAYA: Transport and logistics companies are only expected to return to profitability in 2021, as business volume will need time to recover from the current Covid-19 pandemic.
In light of the challenges, Affin Hwang Capital said transport and logistics firms are expected to report a net loss this year.
“Broadly speaking, the transport and logistics companies have observed lower business activity in April and May 2020 (except parcel volume).
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