Malaysia Aviation Group Bhd (MAG) recorded a net profit of RM54 million for the financial year 2024, alongside an operating profit of RM113 million, despite facing significant operational challenges.
The group reported a strong EBITDA of RM788 million, underscoring resilient performance amid headwinds such as supply chain disruptions that led to extended aircraft maintenance timelines and delays in new aircraft deliveries.
These issues forced a reduction in capacity by 18% during the traditionally high-performing fourth quarter, ultimately weighing on full-year revenue, which slipped marginally by 1% year-on-year to RM13.68 billion. This came despite a 6% increase in available seat kilometre (ASK), reflecting improved efficiency.
MAG Group Managing Director Datuk Captain Izham Ismail said the group remained profitable and forward-looking despite the disruptions. “We not only maintained profitability but ensured we were strategically positioned for the future while navigating operational challenges,” he said in a statement.
