PETALING JAYA: Malaysia Aviation Group (MAG) has set an ambitious revenue target of more than RM24 billion under its Long-Term Business Plan 3.0 (LTBP 3.0), signalling a strategic shift from recovery to expansion as the group enters its next phase of growth.
The five-year plan, covering the period from 2026 to 2030, builds on the achievements of LTBP 2.0, which focused on stabilisation, debt reduction and restoring operational profitability following a prolonged downturn in the aviation industry.
Group Managing Director Datuk Captain Izham Ismail said LTBP 3.0 reflects MAG’s confidence in pursuing sustainable growth while strengthening both its core aviation operations and related businesses.
He explained that the plan places strong emphasis on network and fleet strategies aimed at expanding market reach, improving operational efficiency and enhancing the overall customer experience.
“LTBP 3.0 represents the next phase of growth beyond recovery. While ambitious, it is grounded in what we have achieved so far, allowing us to accelerate where we are strongest and invest strategically for long-term value,” he said.
Izham noted that under LTBP 2.0, MAG successfully reduced liabilities by more than RM15 billion, eliminated approximately RM10 billion in legacy debt and returned to operating profitability for three consecutive years, including two years of positive net profit.
Operational performance has continued to improve, with the group’s Customer Satisfaction Index rising to 84 per cent this year compared with 80 per cent in 2024.
Fleet modernisation remains a key priority, with MAG having taken delivery of 22 next-generation aircraft designed to enhance fuel efficiency and operational reliability.
Beyond passenger services, non-aviation activities accounted for 18 per cent of total group revenue in 2024, underscoring MAG’s progress in diversifying income streams.
Looking ahead, MAG aims to achieve more than 60 per cent growth in third-party revenue from its aviation services segment, including maintenance, engineering, cargo and ground handling.
