KUALA LUMPUR, March 21 ― The Malaysian Aviation Group (MAG) reported a record net profit after interest and tax of RM766 million from RM344 million a year ago. This marked a 22...
PM Anwar affirms federal govt's obligation in fulfilling state allocations after PAS-led Terengganu accuses Putrajaya of 'cruelty' for oil payment arrears
MAG's group managing director Datuk Captain Izham Ismail said the passenger traffic and capacity had increased by 47 per cent and 61 per cent year on year contributing to one of the strongest recorded load factors averaging 77 per cent compared to 72 per cent a year ago. “Cash balance stood at RM4.3 billion with no capital injections from main shareholder, Khazanah Nasional Berhad, since October 2021. MAG launched its new target operating model in 2023 through the creation of three distinct profit centres, namely the airline business, loyalty and travel services, and aviation services to empower each vertical to drive business growth,” he added.Now, in 2024, MAG aim to consolidate their credibility further by focusing on innovation and adaptive service delivery.
“Despite anticipated challenges in air travel yields, MAG is confident in its strategic moves to mitigate risks and embrace future opportunities with enthusiasm. The groups diversification strategy is expected to contribute up to 30 per cent of the group’s total topline by 2025.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Calum Scott and Anderson Kalang's Unforgettable Musical Collab in Kuala LumpurRenowned English singer-songwriter Calum Scott and Kelabit musician Anderson Kalang performed an exceptional rendition of 'You Are the Reason' during the recent Fly FM Jam Session in Kuala Lumpur. The impromptu nature of the performance elevated the event to a prestigious level for Anderson, celebrating cultural heritage and musical innovation.
Read more »
Saudi Tourism Authority presents initiatives at trade roadshow in Kuala LumpurThe Saudi Tourism Authority (STA) showcased various initiatives at a trade roadshow in Kuala Lumpur, targeting the leisure segment and emphasizing Saudi Arabia's commitment to Malaysian travelers. The initiative aligns with Saudi's Vision 2030 and aims to attract 150 million annual visitors by the end of the decade. Saudi has been recognized as the fastest growing destination by UNWTO, with a 156% increase in international arrivals compared to 2019.
Read more »
Jubilo FC naib juara Plate kejohanan bola sepak Piala Kuala LumpurKota Kinabalu: Jubilo FC menamatkan saingan sebagai naib juara Plate dalam kejohanan bola sepak tujuh sebelah Piala Kuala Lumpur yang diadakan di The New Camp di Bandar Utama, Petaling Jaya baru-baru ini.
Read more »
Smooth progress for Indonesia GE's re-voting process in Kuala LumpurKUALA LUMPUR: The Indonesian General Election’s (Pemilu 2024) re-voting process for the entire Kuala Lumpur area that took place at the World Trade Centre (WTC) here today went smoothly and under control.
Read more »
Lelaki Ini Dedah Punca Sebenar Golongan OKU Sukar Berjalan Sendirian Sekitar Kuala LumpurMenurut Izhar yang merupakan komuniti Orang Kurang Upaya (OKU) berkerusi roda, pembahagi jalan menyebabkan golongannya sukar berjalan sekitar Kuala Lumpur.
Read more »