Malaysia Airlines, after a tumultuous decade marked by significant losses and tragic incidents in 2014, is finally seeing a turnaround in its fortunes. According to Malaysia Aviation Group (MAG), the airline reports a remarkable achievement, boasting a positive operating profit of RM889 million for the second consecutive year, representing a notable 64% improvement from 2022.
Malaysia Airlines’ profitability
MAG’s cash balance stands at RM4.3 billion, achieved without capital injections from main shareholder Khazanah Nasional Berhad since October 2021.
Furthermore, MAG records its first-ever net profit after interest and tax (NIAT) for the full financial year 2023, amounting to a positive RM766 million, a significant shift from a negative RM344 million the previous year. Despite criticisms from netizens about hiring foreign talents, the airline’s resurgence is seen as a source of national pride.
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