KUALA LUMPUR, April 17 — Malaysia Aviation Group (MAG) is not looking to tap its sole shareholder, Khazanah Nasional Bhd, for a fresh capital injection despite rising macroeconomic pressures, according to group managing director Datuk Captain Izham Ismail.
Speaking at a press conference today, Izham said MAG remains committed to operating independently of shareholder bailouts, even as global headwinds — including new US tariffs — threaten to push up operating costs.
“It’s not fair for shareholders to inject capital due to inefficiencies within the organisation. A company needs to be commercially sustainable in order to operate,” he was quoted as saying by Free Malaysia Today (FMT).
While acknowledging that any decision on capital injection ultimately lies with Khazanah, Izham stressed that it should be driven by strategic rather than operational considerations.
MAG, which includes Malaysia Airlines among its portfolio of carriers, has not received any fresh capital from Khazanah since October 2021.
Izham noted that the group ended 2024 with a cash balance of RM3 billion, signalling a relatively strong liquidity position.
The airline group has been undergoing a restructuring process to shore up financial sustainability and has consistently maintained that it intends to stand on its own feet.
On the fleet front, Izham also revealed that MAG remains open to new aircraft sources, including China’s state-owned Commercial Aircraft Corporation of China (Comac).
“We’re still evaluating our options. The door hasn’t closed yet. We remain open to all manufacturers, provided they align with our product strategy and long-term ambitions,” he reportedly said.
Izham confirmed that no request for proposal has been issued so far, but said the group continues to assess its fleet strategy in line with future demand and network plans.
