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Malaysia Aviation Group in the black with RM766m net profit for FY23

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KUALA LUMPUR: Malaysia Aviation Group (MAG) is in the black, posting its first-ever net profit after interest and tax of RM766 million for the financi...

From left: MAG group CFO Boo Hui Yee, Izham and group chief strategy and transformation Bryan Foong at the results briefing.

Moreover, he said the group recorded a positive operating profit of RM889 million, which is a 64% improvement from RM540 million in 2022. “In terms of capacity, the airlines business collectively achieved more than 89% across domestic and international routes, while Malaysia Airlines has reinstated 86% of pre-pandemic capacity as at end December 2023, with a targeted full recovery expected by the second quarter of 2024.

MAB Engineering Services Sdn Bhd continued to gain traction with its third party revenue now contributing 24% of its revenue.

 

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MAG posts first annual net profit at RM766m post pandemicKUALA LUMPUR, March 21 ― The Malaysian Aviation Group (MAG) reported a record net profit after interest and tax of RM766 million from RM344 million a year ago. This marked a 22...
Source: malaymail - 🏆 1. / 86 Read more »