Malaysia Aviation Group unveils five-year plan to push Malaysia Airlines into Skytrax Top 10 by 2030

PETALING JAYA, Dec 15 — Malaysia Aviation Group (MAG) has set a target to rank Malaysia Airlines among Skytrax’s Top 10 Global Airlines by 2030 as it unveiled its Long-Term Business Plan 3.0 (LTBP3.0). 

The five-year strategy plan is aimed at accelerating growth after completing one of the airline industry’s most significant financial turnarounds.

The 2026 to 2030 plan, launched today, signals a shift from stabilisation to disciplined expansion for the group, which emerged from a major restructuring in 2020 that cut more than RM15 billion in liabilities and eliminated RM10 billion in legacy debt.

Group managing director Datuk Captain Izham Ismail said the strong results achieved over the past five years have positioned MAG to pursue bolder ambitions.

“LTBP3.0 marks a shift from stabilisation to scaled and disciplined growth,” he told a media briefing here today. 

He added that the plan sharpens the group’s premium positioning while deepening value creation across its broader aviation ecosystem.

“Since the launch of its previous business plan, MAG has recorded three consecutive years of operating profit and two years of positive net income after tax, its strongest performance in over a decade. 

“Customer satisfaction has also improved steadily, with the group’s Customer Satisfaction Index reaching 84 per cent year-to-date, up from 80 per cent in 2024,” he said.

Fleet modernisation and network expansion have underpinned the recovery, with the group welcoming 22 next-generation aircraft and strengthening regional connectivity through new Asean routes, including the realignment of Firefly’s jet operations to KLIA Terminal 1, he added. 

At the same time, he said non-airline revenue has grown to account for 18 per cent of group revenue in 2024, supported by expanded maintenance, repair and overhaul capabilities and other aviation services.

“LTBP3.0 sets out clear, measurable targets aligned with MAG’s ‘Destination 2030’ ambitions. 

“These include doubling group revenue to more than RM24 billion and achieving more than 60 per cent growth in third-party revenue across its aviation services businesses, in addition to its Skytrax ranking goal.”

“The plan is anchored on four strategic pillars,” he said. 

Under its premium Asia-Pacific carrier strategy, MAG aims to deliver end-to-end travel experiences that showcase Malaysian hospitality, supported by capacity expansion of more than 50 per cent at an average annual growth rate of 8.5 per cent. 

“Continued fleet renewal will see investments in 40 A330neos, 43 Boeing 737-8s and 12 Boeing 737-10s, with the long-term goal of operating a modern mainline fleet of 116 aircraft by 2035,” he said. 

Izham said MAG also has plans to deepen partnerships to extend its global reach to more than 1,100 destinations worldwide, strengthening Malaysia’s position as a regional aviation hub. 

“Operational leadership will be reinforced through talent development, structured upskilling and the adoption of best-in-class practices across the group.

“Beyond the airline business, MAG is seeking to build greater financial resilience by expanding third-party businesses such as cargo and in-flight catering, while driving stronger synergies across its aviation services portfolio.

“With LTBP3.0, MAG is positioning itself for its next phase of growth, focused on disciplined expansion, improved customer experience and long-term value creation for customers, partners and the nation,” he said.