Malaysia Airlines looks beyond financial rebound – part one: market outlook and fleet plans

Buoyed by its first annual profit in 14 years, Malaysia Airlines is now focused on proving that its financial turnaround is sustainable, and making important fleet refresh decisions to support its network strategy.

The airline is planning to place significant narrowbody and widebody orders around midyear, which could result in it adding at least another 45 aircraft to its firm order backlog.

Despite its newfound profitability, Malaysia Airlines is remaining cautious with its growth. Most of the orders - particularly in the near term - are aimed at fleet replacement. A second phase of deliveries will be targeted more at fleet growth.

The first part of this analysis looks at the airline's return to profitability, its financial and market outlook, and its aircraft ordering plans.

Part two will examine the airline's competitive position and network strategy.