Malaysia-based carriers, which had been loss-making even before the outbreak of Covid-19 in 2020, are racing against time towards profitability amid a general rise in airfares as demand for air travel continues to outstrip supply following the reopening of borders by most countries over the past year.
JOHOR BAHRU: A former special officer to an ex-Johor Menteri Besar pleaded not guilty in the Sessions Court here on Tuesday (Sept 27) to a charge of forging a salary slip four years ago for purpose of cheating.
FLYFIREFLY Sdn Bhd, the low-cost arm of Malaysia Aviation Group Bhd (MAG), expects to turn a profit for the first time in 2024, which is when the International Air Transport Association (IATA) sees global travel demand recovering to pre-Covid-19 levels. And Firefly CEO Philip See Yew Jin is betting on the commencement of jet operations in April this year to help the carrier turn a profit.
MALAYSIA Aviation Group Bhd (MAG), which narrowed its full-year net loss for 2021 by 60% over the preceding year, remains on track to achieve break-even in 2023 as part of its Long Term Business Plan 2021-2025 (LTBP 2.0). However, group CEO Captain Izham Ismail warns of headwinds from fuel and foreign exchange (forex) volatility, which could affect the target.