Malaysia Aviation Group seeks to double revenue, expand fleet

[KUALA LUMPUR] Malaysia Aviation Group, the parent and operator of Malaysia Airlines, is looking to double revenue by 2030 as the carrier boosts its premium offerings and expands capacity. 

The company is targeting revenue of more than RM24 billion (S$7.6 billion), it said in a five-year road map released on Monday (Dec 15). As well as looking to boost service quality, Malaysia Aviation estimates it will expand capacity at an average annual growth rate of 8.5 per cent.

The Malaysia Airlines fleet is expected to grow to 116 aircraft by 2035, up from 90 in 2026. The carrier is in the process of renewing its narrowbody and widebody fleets, and ordered up to 100 aircraft from Boeing and Airbus earlier this year.

The carrier eked out consecutive annual profits in 2023 and 2024, following years of losses in the aftermath of the disappearance of MH370, and the downing of MH17 just months later.

Malaysia Airlines has once again found itself in the spotlight after the government said the search for MH370 will resume shortly, more than 11 years after the aircraft disappeared in one of aviation’s most enduring mysteries.

Malaysia Aviation Group is also gearing up for a leadership change in the new year.

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Managing director Izham Ismail will retire on Jan 31. He will be handing the reins to current chief operating officer Nasaruddin A Bakar, who will become group chief executive officer. BLOOMBERG