MAG operating profit up 64% in 2023

Malaysia Aviation Group (MAG) has reported a positive operating profit of 889 million Malaysian ringgits (circa $187.75 million) in 2023, up 64% from 2022. Its cash balance stood at 4.3bn ringgits. ($908.1 million) at the year end. Net profit after interest and tax swung from a loss in 2022 of 344 million ringgits ($72.65 million) to a positive in 2023 at 766 million ringgits ($161.77 million). The group said its strong performance was driven by a growth in passenger traffic, which rose from 9.9 million passengers in 2022 to 14.5 million in 2023. Additionally, its passenger load factor grew 5