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Malaysia Aviation Group narrows annual losses; flags breakeven in 2023
April 19th 2023
Malaysia Aviation Group (MAG) group CEO, Capt. Izham Ismail, said the Firefly, Malaysia Airlines and MASwings parent company is on track to break even in the current fiscal year after reducing full-year losses in 2022. Read More » Capt. Izham told local reporters on April 18 he is quite optimistic about MAG achieving breakeven. “MAG has emerged from COVID with a strong financial footing and is charting an upward financial trajectory,” he said. MAG recorded a net loss of 344 million ringgit (US$78 million) for the 12 months to December 31 compared with a larger net loss of 1.65 billion ringgit in the year ago period. Revenue increased 171%, to 10.8 billion ringgit, MAG said.
