Malaysia Aviation Group announced its financial results for the fiscal year ending December 2023, reporting a final net profit of 776.6 million Malaysian Ringgit.
This marks the first time the company has reported a final net profit since its establishment in 2015. Operating profit was 889 million Malaysian Ringgit, and EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) was 1.97 billion Malaysian Ringgit.
The number of passengers was 14.5 million, with passenger traffic up 47% and capacity up 61% compared to the previous year. The seat load factor was 77% (an increase of 5% from last year), and the on-time performance rate was 72% (a decrease of 12% from last year).
The robust demand in the premium segment, strengthened international network, effective supply management, and strong partnerships helped offset rising operating costs, labor costs, fuel expenses, and interest rates. The capacity at the end of the period was at 86% of the pre-COVID levels, with a full recovery targeted by the second quarter of this year.
Malaysia Aviation Group became the parent company of Malaysia Airlines in 2015. Firefly, MASwings, and MABkargo were re-established by Khazanah Nasional in 2014.
