MAG records RM556 mil net operating profit in 2022

MAG records RM556 mil net operating profit in 2022

Group managing director says result among best quarterly performances in past 20 years

PETALING JAYA – The Malaysia Aviation Group (MAG) recorded a net operating profit of RM556 million for financial year 2022 (FY22), while net loss after interest and tax for the year was reduced by 79% to RM344 million from RM1.65 billion a year ago.

Its cash balance stood at RM4.6 billion at end December 31, 2022.

Group managing director Captain Izham Ismail said the group achieved record net profit after interest and tax of RM1.15 billion in the fourth quarter of 2022 (4Q 2022).

He said the 4Q results was one of its best quarterly performances in the past two decades, driven by robust demand, higher yield across passenger and cargo business segments as well as effective cost management and cash flow optimisation.

– Bernama, April 18, 2023

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