Tag Archives: Malaysia Aviation Group

Malaysia Aviation Group (‘MAG’ or ‘the Group’) reports a positive Net Profit After Interest and Tax (NIAT) of RM54 million for the year 2024, marking a third consecutive year of positive operating profit at RM113million. This performance is further underscored by a robust Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of RM788 million, achieved despite operational headwinds, including proactive network cuts in Q4 2024, which reduced capacity by 18 per cent. The Group maintained a strong cash balance of RM3.0 billion as of 31 December 2024, without any capital injections from its main shareholder, Khazanah Nasional Berhad, since October 2021. The capacity cuts, driven by supply chain disruptions which extended maintenance times and delays in new aircraft delivery, were implemented during a traditionally strong quarter, impacting the Group’s full-year revenue, which stood at RM13,679mil – a marginal 1 per cent decrease year-on-year on the back of a 6 per cent increase in Available Seat Kilometre (ASK). However, passenger traffic remained robust in the premium segment with stronger load factors for both passenger and cargo segments. The Group also expanded its international network through new routes and deep partnership collaborations. The Group’s positive NIAT was further supported by a reversal of impairment on Rights of Use Assets, Aircraft, Property, Plant and Equipment and Intangible Assets amounting to RM426 million. These impairments, initially recognised during the COVID-19 pandemic in 2020, were reversed due to improved capacity, revenue, seat factor, and yield experienced in the financial years 2023 and 2024. Operational Highlights: Airlines and Non-Airlines Business Segments Airline Business Segment Malaysia Airlines Berhad (MAB) posted an operating profit of RM139 million, an 87 per cent decline from RM1.09 billion in 2023 due …

Malaysia Airlines has announced that it will operate limited service with 85% reduction across its network during the Movement Control Order (MCO) from 1 to 14 June 2021. However, it will continue to facilitate essential domestic and international travels as well as cargo movement. Also, the carrier extended its rebooking travel flexibility, offering customers longer ticket validity until 31 December 2022 with a one-time fare difference and service fee waiver. Eligible customers can now rebook their travels on or before 30 June 2022 for travel to be completed by 31 December 2022. Malaysia Airlines previously offered customers the flexibility to rebook their travels on or before 30 June 2021 for travel to be completed by 31 December 2021. Customers may refer to the airline’ travel advisory available on its official website for more information. Captain Izham Ismail, Group Chief Executive Officer, Malaysia Aviation Group, said: “The recent spike in COVID-19 cases in Malaysia has moved us to prioritise further the safety and health of our passengers and employees. With customers being the centre of gravity, we hope the extended travel rebooking flexibility regardless of the class fare will provide the certainty and peace of mind that their tickets remain eligible for future travel with us. As national carrier, we continue to play our role in ensuring accessibility for Malaysia together with Firefly and MASwings, via limited commercial and charter services even since MCO 1.0. From April 2020, we have successfully deployed over 350 rescue and repatriation flights utilising Malaysia Airlines’ A380, A350, A330 and B737 aircraft whilst MABkargo operated more than 1,600 passenger-to-cargo (P2C) flights since March 2020, carrying over 30,000 tonnes of relief items on its global freighter network …