3 days Ago
KUALA LUMPUR: Malaysia Aviation Group Bhd (MAG) reported a net profit of RM54 million for 2024 and RM113 million in operating profit. In a statement today, the group said it achieved robust earnings before interest, taxes, depreciation, and amortisation (EBITDA) of RM788 million despite operational headwinds, including network cuts in the fourth quarter of 2024, which reduced capacity by 18 per cent. The capacity cuts, driven by supply chain disruptions which extended maintenance times and delays in new aircraft delivery, were carried out during a traditionally strong quarter.
It impacted MAG's full-year revenue of RM13.68 billion, a marginal 1.0 per cent decrease year-on-year, on the back of a 6.
0 per cent rise in available seat kilometre (ASK). MAG group managing director Datuk Captain Izham Ismail said the group not only maintained profitability but had also ensured it was strategically positioned for the future while facing operational challenges. - Bernama.
