Malaysian Aviation Group soars with doubled profits and fleet expansion in 2025
The Malaysian Aviation Group (MAG) reported strong financial and operational improvements in 2025. Despite early challenges from capacity cuts, the group achieved a 6% rise in revenue and more than doubled its net profit compared to 2024.
The airline also expanded its fleet and network while keeping cost growth in check, though higher maintenance spending put pressure on cash reserves. MAG's total revenue climbed to RM14.5 billion in 2025, a 6% increase from the previous year. This growth came even after capacity reductions in late 2024, which temporarily affected yields in early 2025.
Earnings before interest, tax, depreciation, and amortisation (EBITDA) surged to RM1.6 billion, nearly doubling the RM788 million recorded in 2024. Net profit also saw a significant jump, rising from RM54 million in 2024 to RM137 million in 2025.
Operational performance improved as well, with on-time departures reaching 73% in 2025, up from 51% the year before. The airline's ranking in the Skytrax World Airline Awards rose sharply, moving from 89th place in 2024 to 27th in 2025.
MAG expanded its fleet under Business Plan 2.0, launched in February 2025. By March 2026, the group had taken delivery of or ordered 22 narrow-body aircraft (15 Boeing 737 MAX and 7 Airbus A321neo) and 20 wide-body aircraft (12 Boeing 787-9 Dreamliners and 8 Airbus A350-900). Despite this growth, cost increases were limited to 7% for the year.
However, higher maintenance costs—particularly engine shop visits—strained MAG's cash position in 2025. As of December 31, 2025, the group had RM1.77 billion remaining undrawn from the RM3.6 billion allocated under its restructuring programme. MAG's 2025 results show a stronger financial position, improved operations, and a growing fleet. The airline's net profit more than doubled, while its Skytrax ranking and on-time performance saw major gains.
Yet, increased maintenance spending left cash reserves under pressure, with RM1.77 billion still available from its restructuring funds by year-end.
