Malaysia Aviation Group has unveiled its long-term business plan, dubbed LTBP3.0, which foresees the airline growing its mainline fleet to 116 aircraft by 2035 - 25 more than currently - and aims to double revenue to over MYR24 billion ringgit (USD5.9 billion).

Central to the new strategy is a fleet renewal programme designed to support total capacity expansion of over 50% at an average annual growth rate of 8.5%. The group confirmed investments in forty A330-900Ns, forty-three B737-8s, and twelve B737-10s to achieve the 2035 fleet target.

"LTBP3.0 marks a shift from stabilisation to scaled and disciplined growth," outgoing MAG managing director Izham Ismail said. "It sharpens our premium position and deepens the value we create across our broader aviation ecosystem."

Financially, the group is targeting more than 60% growth in third-party revenue across its aviation services businesses. Non-air revenue streams currently contribute 18% of the group's total turnover. Recent operational adjustments to support this growth include realigning jet operations of Firefly (FY, Penang) to Kuala Lumpur International's Terminal 1 and leasing a hangar at Kuala Lumpur Subang to expand MRO capabilities.

According to a statement released on December 15, the new plan builds on the group's financial restructuring under the previous LTBP2.0, which saw the parent of Malaysia Airlines (MH, Kuala Lumpur International) reduce liabilities by over MYR15 billion (USD3.7 billion) and eliminate MYR10 billion (USD2.4 billion) in legacy debt.

MAG reported it has achieved three consecutive years of operating profit and two consecutive years of positive net income. The group also aims to position Malaysia Airlines among the top ten global airlines by 2030.

Recently, ch-aviation reported that the group plans to issue a request for proposals (RFP) for new widebody aircraft by year-end to replace its current long-haul fleet. The deliveries of these widebodies, if pushed through, are expected by 2031.

Based on ch-aviation fleets data, Malaysia Airlines operates an in-house fleet of four A330-200s, three A330-200Fs, fifteen A330-300s, eight A330-900Ns, seven A350-900s, fourteen B737-8s, and forty B737-800s. Firefly operates a further nine ATR72-500s and five B737-800s.