News
Malaysia Aviation Group reports 93% decline in profit for full-year 2024
April 22nd 2025
Malaysia Aviation Group (MAG) booked a net profit of 54 million ringgit (US$12 million) in calendar 2024, down from a 766 million ringgit net profit in 2023. Read More » Revenue dipped slightly, by 1%, to 13.7 billion ringgit, MAG added. The parent company of Malaysia Airlines and Firefly said the 2024 results were impacted by lower yields in its airline businesses and capacity reductions in the final quarter of the year to improve operational reliability, a situation largely brought about by late deliveries of ordered aircraft. “Last year (2024) was a testament to MAG’s resilience and commitment to growth and sustainability,” MAG CEO, Datuk Captain Izham Ismail, said. “While facing operational challenges, we not only maintained profitability but ensured we are strategically positioned for the future.”
In other MAG news, Malaysia Airlines will return to five times a week Kuala Lumpur-Brisbane on November 29 and increase Kuala Lumpur to Melbourne and Sydney to three flights a day each by the end of October. The flag carrier also will add frequencies from its home hub to Auckland, Phuket, Surabaya and Trivandrum.
