Kuala lumpur: Malaysia Aviation Group Bhd (MAG) aims to double its topline revenue to more than RM24 billion by 2030 through its Long-Term Business Plan 3.0 (LTBP3.0) unveiled today. LTBP3.0 is a focused five-year (2026-2030) roadmap aimed at strengthening the group's competitive position and reinforcing its standing as Asia's leading travel and aviation services group.
According to BERNAMA News Agency, MAG group chief strategy officer Bryan Foong Chee Yeong outlined the aims of LTBP3.0, including positioning Malaysia Airlines among Skytrax's top 10 global airlines and driving over 60 per cent growth in third-party revenue across its aviation services businesses. These targets are set to strengthen MAG's long-term financial resilience, elevate Malaysia's global connectivity, and reinforce the group's role as a catalyst for national development.
Foong explained that LTBP3.0 is anchored on four strategic pillars: premium Asia-Pacific carrier, deeper partnerships, operational leadership, and resilient businesses. These will be supported by key enablers such as people, processes, digital innovation, and sustainability. MAG will deliver premium, end-to-end travel experiences underpinned by capacity expansion by over 50 per cent and continued fleet renewal.
MAG plans to build stronger partnerships to extend its global reach, enabling seamless travel across more than 1,100 destinations worldwide. Foong emphasized the need for cooperation with partners, Malaysia Airports, and policymakers to create a supportive ecosystem for MAG.
MAG group managing director Datuk Captain Izham Ismail highlighted the progress made under LTBP2.0, which reflects the capability and resilience of the group's employees. LTBP2.0 was introduced in 2020 as part of MAG's financial restructuring, reducing liabilities by over RM15 billion and eliminating RM10 billion in legacy debt, leading to sustained profitability and positive net income after tax.
MAG achieved stronger non-air revenue streams, contributing 18 per cent of the group's revenue last year, supported by growth and new opportunities like expanding maintenance, repair, and overhaul capacity at Subang Airport. Under LTBP2.0, MAG also welcomed 22 next-generation aircraft, enhancing fleet modernization, routes, and customer experience.