PETALING JAYA: The disposal of its loss-making low-cost carrier Firefly is an option on the table, according to Khazanah Nasional Bhd-owned Malaysia Aviation Group (MAG).
After unveiling its new roadmap for 2026-2030, outgoing group managing director Datuk Captain Izham Ismail however said the decision will only be made around 2028 or 2029.
Earlier in July this year, it was reported that Firefly will cease its jet flight operations to and from Sultan Abdul Aziz Shah Airport (Subang Airport).
It was then moved to KLIA Terminal One.
Izham said operating the jet flights from Subang “did not help the bottomline”.
“We will see how it performs in KLIA over the next few years, but if it goes south, then we have to make some drastic decisions circa 2028 or 2029.”
According to Izham, there are three more years for the lease age of Firefly’s airplanes to expire.
MAG, which also operates national carrier Malaysia Airlines, aims to position Malaysia Airlines among Skytrax’s Top 10 Global Airlines by 2030 under the Long-Term Business Plan 3.0 roadmap unveiled on Monday.
Currently, Malaysia Airlines is ranked 27th.
Under the Long-Term Business Plan 3.0 roadmap, MAG also seeks to double its revenue to more than RM24bil and drive more than 60% growth in third-party revenue across its aviation services businesses.
Also, in the next five years, MAG aspires to expand its capacity by over 50% at an average annual growth rate of 8.5% and the continued fleet renewal, including investment in 40 A330neos, 43 Boeing 737-8s and 12 Boeing 737-10s.
This supports the ambition to operate a modern mainline fleet of 116 aircraft by 2035, up from 90 in 2026.
Izham said the new roadmap marks a shift from stabilisation to scaled and disciplined growth.
