Group CEO Nasaruddin Bakar said MAG’s net profit more than doubled to RM137 million in 2025 from RM54 million in 2024, and that MAG recorded a 6% increase in revenue to RM14.5 billion.
He also said MAG’s earnings before interest, taxes, depreciation and amortisation stood at RM1.6 billion last year compared to RM788 million in 2024.
“Even though capacity rose significantly, our costs only increased marginally, showing that we continue to manage expenses in a proactive and disciplined manner,” he said during MAG’s 2025 review briefing here today.
“Our financial restructuring has stabilised the business and laid the groundwork for how we navigate going forward.”
Group chief financial officer Boo Hui Yee said MAG generated operating cash flow of RM1.9 billion in 2025, significantly higher than the RM401 million recorded in 2024.
She added that the group still retains RM1.77 billion from a total RM3.6 billion allocated by Khazanah Nasional since 2019.
MAG’s cash balance stood at RM1.53 billion for the 2025 financial year.
However, she said the group continues to depend on post-restructuring funding from Khazanah to meet capital expenditure needs, particularly pre-delivery payments (PDPs) for new aircraft and ongoing maintenance.
“In 2025, we drew down RM500 million mainly for capital expenditure commitments,” she said.
Nasaruddin said the group had also improved its operations, with on-time performance improving to 81%.
Customer satisfaction also improved, with MAG’s customer satisfaction index rising to 84% in 2025 from 80% a year earlier, supported by enhancements across key service touchpoints and the introduction of newer aircraft.
He said MAG received 24 aircraft in 2025 and expects around 10 more deliveries in 2026. Longer-term plans for widebody fleet renewal remain ongoing.
Looking ahead, Nasaruddin said rising fuel prices and geopolitical tensions due to the Middle East war remain key risks, noting that fuel accounts for about 40% of the group’s operating costs.
He added that the group would continue to closely monitor market conditions and adjust its strategy accordingly.
“This environment is very volatile, so we will continue to review and adjust our plans as the situation evolves,” he said.