Tag: crisis

Airbus A220 aircraft order deal will cost US$19 billion, says Fernandes

KUALA LUMPUR: AirAsia Bhd has announced that its order for 150 Airbus A220 aircraft will cost around US$19 billion, according to its advisor Tan Sri Tony Fernandes. Fernandes, who is also the CEO of Capital A, expects the first delivery of the aircraft to arrive no later than the first quarter of 2028. He said the Airbus A220 would open up new market potential and routes, bringing them closer to building the world's first low-cost airline network. "So, with this 160-seat aircraft, it allows us to increase our profit margin by around two to three percentage points, in addition to building a much wider network. "This aircraft can also fly for up to seven hours and in Asia, it has a very high value for us," he told reporters after the signing ceremony of the Airbus A220 order agreement which was broadcast live from Mirabel, Quebec, Canada. Earlier in his speech, Fernandes also expressed interest in possibly purchasing another 150 aircraft if the aircraft manufacturer builds a longer version, known as the Airbus A220-500, which can accommodate around 185 seats. "This is a US$19 billion deal, which could go up to US$38 billion if we could have the longer version," he said. When asked why he needed a longer version of the A220 programme, Fernandes said the existing A320 aircraft were now nearing the end of their service life and the 180-seat aircraft would be a perfect replacement. "People may wonder why we are buying so many planes during this latest crisis, but the crisis is an opportunity to make bold decisions. "We have built AirAsia by making bold decisions at the right time, not the easiest. This order reflects our long-term discipline and the scale of our ambition," he said of the multi-billion dollar deal. "Our partnership with Airbus has spanned more than two decades and has been the backbone of all our achievements. Today marks another milestone in that journey and many more to come in the future," he said. Earlier, Lars Wagner, who is also the Chief Executive Officer of Airbus Commercial Aircraft Business, confirmed the historic agreement, which saw the A220 model surpass 1,100 orders. Also present at the event was Canadian Prime Minister Mark Carney. -- BERNAMA

KUALA LUMPUR: AirAsia Bhd has announced that its order for 150 Airbus A220 aircraft will cost around US$19 billion, according to its advisor Tan Sri Tony Fernandes. Fernandes, who is also the CEO of Capital A, expects the first delivery of the aircraft to arrive no later than the first quarter of 2028. He said […]

PM ANWAR IBRAHIM UNVEILS BOLD NATIONAL STRATEGY TO SHIELD MALAYSIANS FROM GLOBAL ENERGY CRISIS

KUALA LUMPUR, April 15 — Prime Minister Anwar Ibrahim yesterday announced a comprehensive and decisive national strategy following a high-level meeting of the National Economic Action Council (MTEN), aimed at protecting Malaysians from the prolonged global energy crisis. Describing the situation as “prickly and expected to persist,” Anwar stressed that the government’s top priority is safeguarding the welfare of the people while maintaining discipline and realism in all policy measures. At the heart of the immediate response is ensuring uninterrupted supply of energy and essential goods. The Prime Minister highlighted the critical role of PETRONAS, alongside early-stage planning, to guarantee sufficient supply in the coming months. To ease the burden of rising costs, the government will expand diesel subsidies, targeting farmers, smallholders, and individual vehicle owners. This move is expected to cushion vulnerable groups from the impact of global fuel price volatility. In tandem, demand-side measures are being intensified. These include improving energy efficiency and implementing Work From Home arrangements for civil servants starting immediately. Enforcement operations—dubbed “Cold Ops”—will also be ramped up to combat hoarding and smuggling activities that threaten national fuel supply stability. Looking ahead, Anwar emphasized a strategic shift toward renewable energy to reduce dependence on imported fuels. Biodiesel has been identified as a practical near-term solution, with plans to gradually increase the blend rate to B15 using existing infrastructure. “This allows us to act immediately while preparing for more advanced systems in the future,” he said. The Prime Minister also added that Malaysia’s strong industrial base and domestic capacity will not only stabilize current supply but also strengthen long-term energy resilience. “Insya-Allah, with determination, discipline, and unity, we will overcome this challenge together,” Anwar affirmed. The announcement signals a coordinated national effort to navigate global uncertainties while ensuring the stability of Malaysians’ daily lives. -- Minutes MY / Igneseous Noris -- Credit: FB Anwar Ibrahim

KUALA LUMPUR, April 15 — Prime Minister Anwar Ibrahim yesterday announced a comprehensive and decisive national strategy following a high-level meeting of the National Economic Action Council (MTEN), aimed at protecting Malaysians from the prolonged global energy crisis. Describing the situation as “prickly and expected to persist,” Anwar stressed that the government’s top priority is […]

Global Energy Crisis Expected to Slow Down Road Construction and Maintenance Projects

KULAI, April 13 -- The increase in operating costs, especially diesel fuel, due to the current global energy crisis is expected to cause increased delays in road construction and maintenance projects nationwide. Deputy Minister of Works Datuk Seri Dr Ahmad Maslan said his ministry expected the number of projects behind schedule to increase compared to before. He said that of the 855 projects in implementation under the Public Works Department (JKR) involving 28 ministries previously, one-third were ahead of schedule, one-third were on schedule and one-third were late. Ahmad explained that road construction and maintenance projects were the most affected sector due to their high dependence on the use of diesel to power heavy machinery such as lorries and road rollers. "Because all the vehicles that make roads use diesel... so this industry is indeed following market prices and that is their main complaint. "What is affected is road maintenance and the construction of new roads, while for building construction, they can still use up existing building materials. However, with the current situation, we are worried that this category of late projects will increase," he said. He said this to reporters during an official working visit to the Kulai District Public Works Department at the Kulai District Engineer's Office, here, today. Ahmad said the industry estimated the cost increase to be between 30 and 40 percent, but the government did not want to rely on that figure without more accurate data confirmation. Therefore, he said, the Works Ministry is currently obtaining official data from the Department of Statistics Malaysia (DOSM) to determine the actual rate of increase in the price of building materials. "DOSM has a scientific and systematic calculation method covering various sectors including building materials, food and transportation. We will use their data as an official reference," he said. In addition, he said his party had also held meetings with several contractor associations including the Malaysian Bumiputera Contractors Association (PKBM), the Malaysian Malay Contractors Association (PKMM), the Malaysian Class F Bumiputera Contractors Association (Perkobf) and the mechanical contractors association to obtain industry feedback.

KULAI, April 13 — The increase in operating costs, especially diesel fuel, due to the current global energy crisis is expected to cause increased delays in road construction and maintenance projects nationwide. Deputy Minister of Works Datuk Seri Dr Ahmad Maslan said his ministry expected the number of projects behind schedule to increase compared to […]

MCMC Investigates 42 Cases Of Fake News On Energy Crisis – Fahmi

PUTRAJAYA, April 8 (Bernama) -- The Malaysian Communications and Multimedia Commission (MCMC) has opened 42 investigation papers into the spread of false information related to the global energy crisis and the West Asia conflict circulating on social media and digital platforms as of 3 pm today. Communications Minister Datuk Fahmi Fadzil said of the total, 31 pieces of content involved false reports on fuel costs, while 22 individuals from various locations nationwide have been called in to have their statements recorded to assist investigations. MCMC has also submitted 355 requests to remove false content from various social media platforms, with 154 items already taken down by platform providers, while the remainder are still under review, he added. “I urge all Malaysians to remain vigilant when encountering information, especially on social media, particularly those related to the global energy crisis. “In a time when the world is facing current challenges, there are parties who take advantage by spreading unverified information solely to gain attention and influence,” he said at a briefing on the global energy crisis during his weekly press conference here today.

PUTRAJAYA, April 8 (Bernama) — The Malaysian Communications and Multimedia Commission (MCMC) has opened 42 investigation papers into the spread of false information related to the global energy crisis and the West Asia conflict circulating on social media and digital platforms as of 3 pm today. Communications Minister Datuk Fahmi Fadzil said of the total, […]