MAG expects to return to the black next year
Malaysia Aviation Group Bhd (MAG) is expected to return to profitability in 2023, and see its ticket sales return to pre-pandemic levels as early as 2024. According to MAG chief sustainability officer Philip See, the group is on track to return to the black based on its performance for the first quarter of this year against its budget plan. “The key to profitability is to diversify the business, like our cargo business which did quite well during the pandemic. We hope the momentum will continue together with the recovery of air travel,” he told reporters after the memorandum of understanding (MoU) signing ceremony between MAG and Sunway Bhd here yesterday. The MoU between MAG and Sunway was aimed at capitalising on each other’s strengths by exploring broad collaborative initiatives. The partnership aims to offer comprehensive travel packages covering flights, hotel stays and attractions that promise all-in-one, hassle-free planning. In the meantime, customers will also be able to take advantage of the absolute enjoyment on both companies’ MHholidays packages, Journify vacation and theme park vouchers, quarantine facilities and special MH packages. The two-year partnership will provide new business opportunities, joint marketing campaigns as well as branding and promotional activities between the two giant Malaysian brands.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2022-04-14/oneworld/mag-expects-to-return-to-the-black-next-year
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MAG expects to return to the black next year
Malaysia Aviation Group Bhd (MAG) is expected to return to profitability in 2023, and see its ticket sales return to pre-pandemic levels as early as 2024. According to MAG chief sustainability officer Philip See, the group is on track to return to the black based on its performance for the first quarter of this year against its budget plan. “The key to profitability is to diversify the business, like our cargo business which did quite well during the pandemic. We hope the momentum will continue together with the recovery of air travel,” he told reporters after the memorandum of understanding (MoU) signing ceremony between MAG and Sunway Bhd here yesterday. The MoU between MAG and Sunway was aimed at capitalising on each other’s strengths by exploring broad collaborative initiatives. The partnership aims to offer comprehensive travel packages covering flights, hotel stays and attractions that promise all-in-one, hassle-free planning. In the meantime, customers will also be able to take advantage of the absolute enjoyment on both companies’ MHholidays packages, Journify vacation and theme park vouchers, quarantine facilities and special MH packages. The two-year partnership will provide new business opportunities, joint marketing campaigns as well as branding and promotional activities between the two giant Malaysian brands.<br/>
