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Manchester United Ltd. (NYSE:MANU) inked a multi-year partnership with Malaysia Airlines, under which the airline will become the club’s official commercial airline.
The partnership was announced by Malaysia Airlines’ Group Managing Director of Malaysia Aviation Group, Izham Ismail, at a major industry trade fair in Kuala Lumpur, Manchester United said in a press release.
To mark the occasion, ex-Manchester United defenders Patrice Evra and Wes Brown traveled to Kuala Lumpur, sharing insights as players and club ambassadors.
“Aligning with a globally recognised club like United places Malaysia Airlines in front of a massive worldwide audience, significantly boosting brand recognition, especially in Europe and Southeast Asia where United has a large fanbase,” Group Managing Director of Malaysia Aviation Group, Izham Ismail, said.
As of December 31, 2023, cash and equivalents were £62.8 million compared to £31.0 million in the prior-year quarter, primarily due to the drawdowns on revolving facilities, offset by investment in the first team playing squad.
For fiscal 2024, the company reiterated its previous revenue guidance of £635 million to £665 million and its previous adjusted EBITDA guidance of £125 million to £150 million.
MANU stock has lost over 45% in the past year. Investors can gain exposure to the stock via Schwab Strategic Trust Schwab Ariel ESG ETF (NYSE:SAEF).
Price Action: MANU shares are trading higher by 0.58% to $13.81 on the last check Friday.
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