Malaysia Aviation Group (MAG) expects to receive seven B737-8s over the next few months despite production delays at Boeing. The aircraft are part of a 25-strong order placed in 2016. In addition, the controlling entity of Malaysia Airlines (MH, Kuala Lumpur International) and Firefly (FY, Penang) said a request for proposals (RFP) for another 20 narrowbody aircraft that was due to occur in the second quarter of 2024 will now happen in the second half of the year due to shifts in the global aviation environment.
"MAG is working closely with Boeing on the 2024 deliveries," a spokesperson told Malaysia's New Straits Times. "We're expecting seven B737-8s to be delivered in the coming months, with a total of nine aircraft to be delivered in 2024. [...] We're in the process of finalising our long-term network plan to guide the fleet selection exercise. We aim to conclude this by the third quarter or fourth quarter of this year."
The spokesperson also confirmed that the first of twenty A330-900Ns leased from Avolon and to be operated by Malaysia Airlines will arrive in September. Earlier this year, the carrier told ch-aviation it was expecting four of the type to ferry in by the end of 2024.
Meanwhile, Malaysia’s Finance Ministry says a restructuring of MAG's finances has resulted in a cost saving of MYR10 billion ringgits (USD2.14 billion), while a restructuring of the MAG's equities had saved MYR5 billion (USD1.07 billion). Per Malaysia’s The Star news outlet, the ministry was responding to a question on notice about the strategy deployed by the group’s owner, the Khazanah Nasional sovereign wealth fund, that resulted in MAG recording an operating profit of MYR889 million (USD190 million) in calendar 2023 - its first profit since 2015.
In a written reply, the ministry said a 2021 decision to restructure the group had put it into a healthier financial position with a better cost base. It added that the goal is to strengthen MAG’s position and turn it into one of the top ten aviation companies rated by Skytrax by 2030.
