Kuala Lumpur: Malaysia Aviation Group (MAG) has indicated that it has no plans to seek further capital injection from its main shareholder, Khazanah Nasional Bhd. Group managing director Datuk Captain Izham Ismail stated that the group is guided by principles that prioritize running MAG as a commercially sustainable business.

According to BERNAMA News Agency, Datuk Captain Izham Ismail did not dismiss the possibility of requiring shareholder support if macroeconomic conditions were to deteriorate significantly, similar to the impact of COVID-19. During the MAG 2024 Annual Performance media briefing, he highlighted that Khazanah Nasional had injected RM3.6 billion into MAG in 2021 to support the airline’s business, out of which RM1.3 billion has been utilized so far.

Datuk Captain Izham Ismail mentioned that the remaining funds would help MAG weather future impacts, emphasizing that it would be unfair for the shareholder to invest more due to organizational inefficiencies. However, he acknowledged that if macroeconomic issues affect the business, it will be up to the shareholder to decide whether MAG should receive assistance.

In another development, Izham noted that MAG is open to potential future aircraft acquisitions from China’s Commercial Aircraft Corporation (COMAC). He said they are still evaluating possibilities, indicating that discussions with COMAC are ongoing.