Malaysia Aviation Group announced its full-year financial results for the fiscal year ending December 2024, marking an operating profit for the third consecutive year.
Revenue totaled 13.679 billion ringgit, EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) was 788 million ringgit, and operating profit was 113 million ringgit.
Despite challenges such as a reduction in supply by 18% in the fourth quarter of 2024 due to extended maintenance and delays in the delivery of new aircraft, the performance remained strong. Although losses widened for Firefly, the cargo segment saw profit growth.
Passenger numbers were 16.6 million (an increase of 2.1 million year-on-year), the average seat load factor was 80% (up by 3%), and on-time performance was 73% (up by 1%). Cash balance at the end of the period stood at 3 billion ringgit.
By 2030, the group plans to operate 55 narrow-body aircraft, including Boeing 737-8 and Boeing 737-10 models, and deploy Airbus A330neo on long-haul routes, expecting to have a fleet of 8 by year-end.
The new simulator facility at the MAB Academy is scheduled for completion in the second quarter of 2025, and workforce enhancement will address the rising MRO demand. The catering business will also expand.
