Kuala Lumpur, April 20 - Malaysia Airlines, part of the Malaysia Aviation Group (MAG), has achieved financial success again. In 2024, the airline made a profit for the third straight year, despite tough times in the global aviation industry. They reported a net profit of MYR54 million (around USD12.2 million), with an operating profit of MYR113 million (USD25.6 million) and an EBITDA of MYR788 million (USD178.8 million). This strong performance, announced on April 17, 2025, shows Malaysia Airlines' ability to overcome challenges like an 18% reduction in capacity at the end of 2024, caused by supply and maintenance issues. Despite these hurdles, MAG’s emphasis on efficiency and customer satisfaction leads MAS toward financial stability.
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The year 2024 brought difficulties for Malaysia Airlines. Their net profit fell by 93% compared to the MYR766 million made in 2023. This decrease was largely due to lower ticket prices, which dropped by an average of 9.6%. There were also safety and maintenance concerns, prompting an investigation by Malaysia’s civil aviation authority in late 2024. A shortage of skilled workers in the engineering division also hampered efficiency. Through strategies like optimizing routes and adjusting capacities, MAG managed to minimize these negative impacts. They increased their load factor to an average of 80%, up three percentage points from 2023, indicating strong passenger demand even with reduced capacity.
Subsidiaries of Malaysia Airlines also boosted the group's financial results. Amal, offering hajj and umrah services, improved by 36% from last year due to increased demand. The cargo division, MAB Kargo, saw a rise in operating profits thanks to better capacity and load factors. AeroDarat Services, responsible for ground handling, tripled its operating profits by servicing more flights for both MAG and other airlines. On the downside, Firefly, MAG’s low-cost airline, faced larger losses. Introducing jet operations at Subang Airport led to a 19% decline in profits, despite a higher load factor.
Looking ahead, Malaysia Airlines is modernizing and expanding its fleet to stay competitive. They ordered up to 60 Boeing 737 MAX planes, with 18 737-8 and 12 737-10 jets already in service or expected by the end of 2025. These aircraft are more fuel-efficient and eco-friendly, aligning with the airline’s sustainability goals. MAG is also exploring future options with China’s COMAC, indicating a plan for future growth. In 2024, Malaysia Airlines was internationally recognized for its quality. They received APEX Four-Star Major Airline status, ranked among the top 10 for World’s Best Cabin Crew by Skytrax, and rose to 39th in the World’s Best Airline rankings. They also created a partnership with Manchester United for a special plane design, enhancing their brand and customer experience. Despite past difficulties, such as the tragic events of 2014, Malaysia Airlines has made significant progress. Achieving three consecutive years of profit in 2024, despite a drop in profits, shows their resilience in the competitive aviation sector. With a focus on fleet renewal, operational strength, and Malaysian hospitality, Malaysia Airlines aims to strengthen its position among the world’s leading airlines, setting a promising outlook for 2025 and beyond.