Malaysia Airlines parent MAG turns the corner in FY21 with positive Ebitda of RM433m
Group attributes growth mainly to its air cargo logistics business MAB Kargo, which posted RM3 billion in revenue for the financial year
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MALAYSIA Aviation Group (MAG), the parent company of national carrier Malaysia Airlines, achieved positive earnings before interest, taxes, depreciation and amortisation of RM433 million (S$137.2 million) for the financial year ended Dec 31, 2021, a turnaround from the RM1.76 billion loss in the previous year.
The growth was mainly attributed to its air cargo logistics business MAB Kargo, which posted RM3 billion in revenue for the financial year, said MAG in a statement on Thursday (Apr 21).
MAG added that Malaysia Airlines recorded a 57 per cent higher yield in passenger revenue, even though passenger traffic and capacity reduced by 62 per cent and 71 per cent, respectively, in 2021.
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