KUALA LUMPUR (March 25): Aircraft manufacturer Airbus is looking to grow its supply chain sourcing and maintenance, repair and overhaul (MRO) activities in Malaysia by up to 33.3% to US$550 million (RM2.24 billion) a year by 2023, from US$400 million (RM1.62 billion) in 2018.

"In 2023, we expect to be at US$550 million in yearly business for Malaysia, going together with an increase to 5,200 jobs from 4000 jobs," said Airbus Asia-Pacific president Jean-Marc Nasr.

When asked how the manufacturer would achieve this growth, Nasr said the increase in aircraft production was a driver for this target.

"We would like to increase the production rate of our aircraft, this increase by definition will also see our suppliers increasing production as well," said Nasr.

Nasr added that Airbus's MRO segment would also grow in tandem with the number of planes in the sky, as these planes require servicing.

He added that the group expects a growth in passenger volume of 5.5% a year for the next twenty years for the Asia-Pacific region alone, as compared to the global average 4.4%.

Nasr highlighted that Malaysia is its largest supply base in Southeast Asia and that it is the fifth largest supply base for composite parts worldwide.

He also shared that Malaysia is Airbus's third largest market after China and India.

When asked how the aircraft manufacturer would be impacted by the potential closure of Malaysia Airlines Bhd, Nasr said he could not comment as it was an airline partner issue.