{"id":21550,"date":"2025-04-17T12:47:07","date_gmt":"2025-04-17T09:47:07","guid":{"rendered":"https:\/\/aviation-news.info\/?p=21550"},"modified":"2025-04-17T12:47:07","modified_gmt":"2025-04-17T09:47:07","slug":"malaysia-aviation-group-achieves-third-consecutive-year-of-profit-in-2024","status":"publish","type":"post","link":"https:\/\/aviation-news.info\/?p=21550","title":{"rendered":"Malaysia Aviation Group Achieves Third Consecutive Year of Profit in 2024"},"content":{"rendered":"<p>In 2024, Malaysia Aviation Group (MAG) recorded a Net Profit After Interest and Tax of RM54 million. The group marked its third straight year of positive operating profit at RM113 million (approximately USD$24.2 million.)<\/p>\n<p>Despite challenges, MAG achieved a strong Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of RM788 million.<\/p>\n<p>This success came even as the Group faced operational hurdles, including an 18% capacity reduction in the fourth quarter due to proactive network adjustments.<\/p>\n<h2 id=\"h-mag-2024-performance\" class=\"wp-block-heading\">MAG 2024 Performance<\/h2>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n<p>MAG maintained a robust cash balance of RM3.0 billion by December 31, 2024, without any capital injections from its primary shareholder, Khazanah Nasional Berhad, since October 2021.<\/p>\n<p>The capacity cuts, prompted by supply chain issues and delays in new aircraft deliveries, impacted full-year revenue. This reached RM13,679 million\u2014a slight 1% drop from the previous year despite a 6% increase in Available Seat Kilometre (ASK).<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" class=\"wp-image-136905 lazyload\" data-src=\"https:\/\/aviationsourcenews.com\/wp-content\/uploads\/2025\/04\/Screenshot-2025-04-17-050804-1024x364.png\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" data-srcset=\"https:\/\/aviationsourcenews.com\/wp-content\/uploads\/2025\/04\/Screenshot-2025-04-17-050804-1024x364.png 1024w, https:\/\/aviationsourcenews.com\/wp-content\/uploads\/2025\/04\/Screenshot-2025-04-17-050804-300x107.png 300w, https:\/\/aviationsourcenews.com\/wp-content\/uploads\/2025\/04\/Screenshot-2025-04-17-050804-768x273.png 768w, https:\/\/aviationsourcenews.com\/wp-content\/uploads\/2025\/04\/Screenshot-2025-04-17-050804.png 1315w\" alt=\"\" width=\"1024\" height=\"364\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/364;\" \/><\/figure>\n<p>However, the Group saw strong demand in its premium passenger and cargo segments, with improved load factors. MAG also expanded its international network by adding new routes and forming strategic partnerships.<\/p>\n<p>A key factor in MAG\u2019s positive financial performance was a RM426 million reversal of impairments on assets, including Rights of Use Assets, Aircraft, Property, Plant, Equipment, and Intangible Assets.<\/p>\n<p>These impairments, initially recorded during the COVID-19 pandemic in 2020, were reversed due to better capacity, revenue, seat factors, and yields in 2023 and 2024.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" class=\"wp-image-18329 lazyload\" data-src=\"https:\/\/aviationsourcenews.com\/wp-content\/uploads\/2024\/10\/453407748_894700049355059_8301884089105322094_n-1024x626.jpg\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" data-srcset=\"https:\/\/aviationsourcenews.com\/wp-content\/uploads\/2024\/10\/453407748_894700049355059_8301884089105322094_n-1024x626.jpg 1024w, https:\/\/aviationsourcenews.com\/wp-content\/uploads\/2024\/10\/453407748_894700049355059_8301884089105322094_n-300x183.jpg 300w, https:\/\/aviationsourcenews.com\/wp-content\/uploads\/2024\/10\/453407748_894700049355059_8301884089105322094_n-768x470.jpg 768w, https:\/\/aviationsourcenews.com\/wp-content\/uploads\/2024\/10\/453407748_894700049355059_8301884089105322094_n.jpg 1199w\" alt=\"A Malaysia Airlines B737 on the tarmac.\" width=\"1024\" height=\"626\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/626;\" \/><figcaption class=\"wp-element-caption\">Photo Credit: Malaysia Airlines<\/figcaption><\/figure>\n<h2 id=\"h-airline-business-highlights\" class=\"wp-block-heading\">Airline Business Highlights<\/h2>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n<p>Malaysia Airlines Berhad (MAB), MAG\u2019s flagship carrier, reported an operating profit of RM139 million in 2024, down 87% from RM1.09 billion in 2023.<\/p>\n<p>The decline was due to lower yields and the impact of capacity cuts in Q4. However, MAB increased its capacity by 7%, carried 17% more passengers, and improved its load factor to 81% from 77% in 2023.<\/p>\n<p>The airline added three new destinations\u2014Male (Maldives), Da Nang (Vietnam), and Chiang Mai (Thailand)\u2014and resumed flights to Kolkata, India.<\/p>\n<p>On-time performance (OTP) saw a modest 1% improvement, limited by aircraft availability.<\/p>\n<p>Firefly, another MAG subsidiary, faced challenges in 2024. Its losses grew due to the launch of jet operations at Subang Airport.<\/p>\n<p>While its load factor rose by 10 percentage points, yields dropped by 19% because of the new jet operations.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" class=\"wp-image-136897 lazyload\" data-src=\"https:\/\/aviationsourcenews.com\/wp-content\/uploads\/2025\/04\/Firefly_B737-800.jpg\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" data-srcset=\"https:\/\/aviationsourcenews.com\/wp-content\/uploads\/2025\/04\/Firefly_B737-800.jpg 1024w, https:\/\/aviationsourcenews.com\/wp-content\/uploads\/2025\/04\/Firefly_B737-800-300x200.jpg 300w, https:\/\/aviationsourcenews.com\/wp-content\/uploads\/2025\/04\/Firefly_B737-800-768x512.jpg 768w, https:\/\/aviationsourcenews.com\/wp-content\/uploads\/2025\/04\/Firefly_B737-800-900x600.jpg 900w\" alt=\"\" width=\"1024\" height=\"683\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/683;\" \/><figcaption class=\"wp-element-caption\">Photo Credit: Jahurz93, CC BY 4.0, via Wikimedia Commons<\/figcaption><\/figure>\n<h2 id=\"h-global-recognition-and-customer-experience\" class=\"wp-block-heading\">Global Recognition and Customer Experience<\/h2>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n<p>MAG and its subsidiaries earned significant accolades in 2024. Malaysia Airlines received the APEX Four-Star Major Airline status and ranked among the Top 10 for World\u2019s Best Cabin Crew by Skytrax.<\/p>\n<p>It also climbed to #39 from #47 in the World\u2019s Best Airline rankings. The airline\u2019s in-flight dining, including its Best of Asia menu, won awards, showcasing its focus on enhancing the onboard experience.<\/p>\n<p>Additionally, the Enrich loyalty program continued to excel in member engagement and customer loyalty.<\/p>\n<h2 id=\"h-strategic-vision-for-growth\" class=\"wp-block-heading\">Strategic Vision for Growth<\/h2>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n<p><strong>Datuk Captain Izham Ismail, Group Managing Director of MAG<\/strong>, emphasized the Group\u2019s resilience and commitment to growth. \u201cIn 2024, we maintained profitability despite challenges, positioning MAG for a sustainable future,\u201d he said.<\/p>\n<p>\u201cOur Destination 2030 vision focuses on commercial sustainability and nation-building, ensuring we contribute to Malaysia\u2019s economic development while strengthening our competitiveness.\u201d<\/p>\n<p>A cornerstone of this strategy is fleet modernization. By 2030, MAG aims to operate a 55-aircraft narrowbody fleet of Boeing 737-8 and 737-10 models, boosting efficiency and flexibility.<\/p>\n<p>The Group is also integrating\u00a0<a href=\"https:\/\/aviationsourcenews.com\/malaysia-airlines-welcomes-first-airbus-a330neo-to-its-fleet\/\" target=\"_blank\" rel=\"noreferrer noopener\">A330neo aircraft<\/a>\u00a0into its long-haul network, with two already serving routes to Melbourne, Bali, and Auckland.<\/p>\n<p>Eight more A330neos are expected in 2025. Forward bookings, up 9% year-on-year, support MAG\u2019s plans to expand in\u00a0<a href=\"https:\/\/asean.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">ASEAN<\/a>, Australia, New Zealand, and South Asia. The return of flights to Paris on March 22, 2025, marks MAG\u2019s second European destination.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" class=\"wp-image-15005 lazyload\" data-src=\"https:\/\/aviationsourcenews.com\/wp-content\/uploads\/2024\/09\/Malaysia_Airlines_Airbus_A350-900_9M-MAF_NRT_42887513761.jpg\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" data-srcset=\"https:\/\/aviationsourcenews.com\/wp-content\/uploads\/2024\/09\/Malaysia_Airlines_Airbus_A350-900_9M-MAF_NRT_42887513761.jpg 1024w, https:\/\/aviationsourcenews.com\/wp-content\/uploads\/2024\/09\/Malaysia_Airlines_Airbus_A350-900_9M-MAF_NRT_42887513761-300x200.jpg 300w, https:\/\/aviationsourcenews.com\/wp-content\/uploads\/2024\/09\/Malaysia_Airlines_Airbus_A350-900_9M-MAF_NRT_42887513761-768x512.jpg 768w, https:\/\/aviationsourcenews.com\/wp-content\/uploads\/2024\/09\/Malaysia_Airlines_Airbus_A350-900_9M-MAF_NRT_42887513761-900x600.jpg 900w\" alt=\"A Malaysia Airlines A350 takes off.\" width=\"1024\" height=\"683\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/683;\" \/><figcaption class=\"wp-element-caption\">Masakatsu Ukon, CC BY-SA 2.0, via Wikimedia Commons<\/figcaption><\/figure>\n<h2 id=\"h-supporting-broader-objectives\" class=\"wp-block-heading\">Supporting Broader Objectives<\/h2>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n<p>MAG\u2019s non-airline businesses are also advancing. MAB Academy\u2019s new simulator building, set for completion in Q2 2025, will enhance regional aviation training.<\/p>\n<p>MAB Engineering Services is strengthening its talent pipeline to support fleet expansion and maintenance, repair, and overhaul (MRO) demand.<\/p>\n<p>Hangar 4 in Subang, slated to open in Q1 2026, will further boost maintenance capacity. Meanwhile, MAG\u2019s catering arm, MCAT, has transitioned to a new facility, supporting the Group\u2019s in-flight catering ambitions.<\/p>\n<h2 id=\"h-conclusion\" class=\"wp-block-heading\">Conclusion<\/h2>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n<p>MAG\u2019s investments foster employment, improve connectivity, and drive economic activity in Malaysia.<\/p>\n<p>By focusing on sustainability and exceptional stakeholder value, MAG is building a strong foundation for long-term success while contributing to the nation\u2019s development.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In 2024, Malaysia Aviation Group (MAG) recorded a Net Profit After Interest and Tax of RM54 million. The group marked its third straight year of positive operating profit at RM113 million (approximately USD$24.2 million.) Despite challenges, MAG achieved a strong Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of RM788 million. This success came even &hellip;<\/p>\n","protected":false},"author":1,"featured_media":21551,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpscppro_dont_share_socialmedia":null,"_wpscppro_custom_social_share_image":0,"_facebook_share_type":"default","_twitter_share_type":"default","_linkedin_share_type":"default","_pinterest_share_type":"default","_linkedin_share_type_page":"","_instagram_share_type":"default","_medium_share_type":"default","_threads_share_type":"","_google_business_share_type":"","_selected_social_profile":null,"_wpsp_enable_custom_social_template":false,"_wpsp_social_scheduling":{"enabled":false,"datetime":null,"platforms":[],"status":"template_only","dateOption":"today","timeOption":"now","customDays":"","customHours":"","customDate":"","customTime":"","schedulingType":"absolute"},"_wpsp_active_default_template":true},"categories":[96,98,102],"tags":[],"class_list":["post-21550","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aviation-world","category-companies","category-featured-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Malaysia Aviation Group Achieves Third Consecutive Year of Profit in 2024 - aviation news<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aviation-news.info\/?p=21550\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Malaysia Aviation Group Achieves Third Consecutive Year of Profit in 2024\" \/>\n<meta property=\"og:description\" content=\"In 2024, Malaysia Aviation Group (MAG) recorded a Net Profit After Interest and Tax of RM54 million. The group marked its third straight year of positive operating profit at RM113 million (approximately USD$24.2 million.) Despite challenges, MAG achieved a strong Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of RM788 million. This success came even &hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/aviation-news.info\/?p=21550\" \/>\n<meta property=\"og:site_name\" content=\"aviation news\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=100088552298353\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-17T09:47:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/aviation-news.info\/wp-content\/uploads\/2025\/04\/240713-malaysia-airlines-a330neo-paintjob-01.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"687\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"adminnews\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@aviationne428\" \/>\n<meta name=\"twitter:site\" content=\"@aviationne428\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"adminnews\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/aviation-news.info\\\/?p=21550#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/aviation-news.info\\\/?p=21550\"},\"author\":{\"name\":\"adminnews\",\"@id\":\"https:\\\/\\\/aviation-news.info\\\/#\\\/schema\\\/person\\\/02e91cef3ca1560c153b683711401bd3\"},\"headline\":\"Malaysia Aviation Group Achieves Third Consecutive Year of Profit in 2024\",\"datePublished\":\"2025-04-17T09:47:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/aviation-news.info\\\/?p=21550\"},\"wordCount\":714,\"publisher\":{\"@id\":\"https:\\\/\\\/aviation-news.info\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/aviation-news.info\\\/?p=21550#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/aviation-news.info\\\/wp-content\\\/uploads\\\/2025\\\/04\\\/240713-malaysia-airlines-a330neo-paintjob-01.jpg\",\"articleSection\":[\"Aviation world\",\"Companies\",\"Featured\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/aviation-news.info\\\/?p=21550\",\"url\":\"https:\\\/\\\/aviation-news.info\\\/?p=21550\",\"name\":\"Malaysia Aviation Group Achieves Third Consecutive Year of Profit in 2024 - 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The group marked its third straight year of positive operating profit at RM113 million (approximately USD$24.2 million.) Despite challenges, MAG achieved a strong Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of RM788 million. 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