Published: Monday January 16, 2012 MYT 3:51:00 PM
Eaglexpress Air Charter hopes for US$100mil revenue by year-end
KUALA LUMPUR: Eaglexpress Air Charter Sdn Bhd hopes to achieve a revenue of US$100 million (US$1=RM3.15) by year-end driven by demand from travel agencies and scheduled flight operators.
Its president/chief executive officer Azlan Zainal Abidin said the revenue is expected to double in the second year of operation to reach US$200 million with the addition of new aircraft.
"We expect to reach break-even point in the second year of operations," he told reporters after Deputy Transport Minister Datuk Abdul Rahim Bakri launched the company today.
Operating from Kuala Lumpur International Airport, Eaglexpress, incorporated on Aug 8 last year, was given approval by the Transport Ministry to provide hajj, umrah, holiday and humanitarian charter services.
Azlan said the company is expected to receive another two Boeing B747-400 aircraft from Penerbangan Malaysia Bhd in addition to the one they already own.
The company is planning to add eight aircraft this year with a total investment of US$200 million and up to 20 aircraft in the next three to five years.
Azlan said the new aircraft would enable the company to complement the air services provided by the scheduled airlines, both local and foreign, by providing charter flights to domestic and foreign destinations.
He said Sabah and Sarawak offer a huge opportunity for the company with their high demand for air services. "We can complement MAS (Malaysia Airlines System Bhd) and AirAsia Bhd in providing services in the states," he said.
He said Eaglexpress is expected to commence its first holiday charter flight in February either to Australia or South Africa. - Bernama