In 2023, Malaysia Aviation Group (MAG) made a profit for the first time in ten years, earning RM766 million. This was a big change from the loss of RM344 million in 2022.
According to The Star, the success came from more people flying in premium seats, better planning of flight capacities, and making more money from each flight.
MAG’s flagship carrier, Malaysia Airlines Bhd (MAB), stood out with an operating profit of RM1.099 billion in 2023, significantly up from the RM80 million in 2022.
Despite facing challenges like higher costs for running the business, paying more for fuel, and dealing with money value changes, MAG managed to do well. This was shared by MAG’s leader, Datuk Captain Izham Ismail, during a press conference.
They made RM13.85 billion in sales last year.
The number of flights and seats they offered went up by 47% and 61%.
Izham said MAG is doing great and is ready to make 2024 an even better year. They plan to make their planes nicer inside, offer more, and add more planes to their fleet.
