HISTORY OF MAS AIRLINES

Malaysia Airlines Berhad (MAB) (Malay: Penerbangan Malaysia Berhad) formerly known as
Malaysian Airline System Berhad (MAS; Malay: Sistem Penerbangan Malaysia); branded as
Malaysia Airlines; (Malay: Penerbangan Malaysia; MYX: 3786 as Malaysian Airline System
Berhad) is a major airline operating flights from Kuala Lumpur International Airport and from
secondary hubs in Kota Kinabalu and Kuching to destinations throughout Asia, Oceania and
Europe. Malaysia Airlines is the flag carrier of Malaysia and a member of the oneworld airline
alliance. The company's headquarters are located at Kuala Lumpur International Airport. In
August 2014, the Malaysian government's sovereign wealth fund Khazanah Nasionalwhich
then owned 69.37% of the airlineannounced its intention to purchase remaining ownership
from minority shareholders and de-list the airline from Malaysia's stock exchange, thereby
renationalising the airline.
Malaysia Airlines owns two subsidiary airlines: Firefly and MASwings. Firefly operates
scheduled flights from its two home bases Penang International Airport and Subang International
Airport. The airline focuses on tertiary cities. MASwings focuses on inter-Borneo flights.
Malaysia Airlines has a freighter fleet operated by MASkargo, which manages freighter flights
and aircraft cargo-hold capacity for all Malaysia Airlines' passenger flights.
The airline began as Malayan Airways Limited and flew its first commercial flight in 1947. A
few years after Singapore's independence, the airline's assets were divided in 1972 to form
Singaporean flag carrier Singapore Airlines and Malaysian flag carrier Malaysian Airline System.
[5]

Its logo is the wau bulan, a traditional Malaysian kite design.

Despite numerous awards from aviation industry and recognition from the World Travel Awards
as the leading airline in and to Asia (201011, 2013)

[5]

the airline struggled to cut costs to

compete with new, low-cost carriers in the region since the early 2000s. [6] In 2013, the airline
initiated a turnaround plan after large losses beginning in 2011 and cut routes to prominent, but
unprofitable, long-haul destinations, such as the Americas (Los Angeles and Buenos Aires) and
South Africa.[7] Malaysia Airlines also began an internal restructuring and intended to sell units
such as engineering and pilot training.[7]

In 2014, Malaysia Airlines lost two aircraftFlight 370 and Flight 17less than five months
apart, exacerbating the airline's financial troubles and leading to the renationalisation of the
airline. Prior to 2014, MAS had one of the world's best safety recordsjust two fatal accidents
in 68 years of operation,[8] including the hijacking in 1977 of Flight 653 that resulted in 100
casualties.
In 1947, the airline began as Malayan Airways, being renamed Malaysian Airways after
Malaysia gained independence. After that, it changed its name once more to Malaysia-Singapore
Airlines. MSA ceased operations in 1972, and two airlines were born Malaysian Airline
System (MAS) and Singapore Airlines (SIA).
Scheduled air passenger and mail services in Malaya commenced in 1937 when Wearne's Air
Service (WAS) commenced operating services between Singapore, Kuala Lumpur and Penang.
Wearne's Air Service was started by two Australian brothers, Theodore and Charles Wearnes. [9]
The service commenced as a thrice weekly flight between Singapore and Penang. The first flight,
using an 8-seater de Havilland DH.89A Dragon Rapide took place on 28 June 1937[10] This
inaugural flight departed Singapore from the then brand-new Kallang Airport, which had just
opened earlier in the same month on 12 June[11] Later a second D.H.89A enabled the expansion to
daily services as well as the addition of Ipoh as a destination. The WAS services ceased with the
onset of the World War II Japanese occupation of Malaya and Singapore.
An initiative[12] by the Alfred Holt's Liverpool-based Ocean Steamship Company, in partnership
with the Straits Steamship Company[13] and Imperial Airways, resulted in the incorporation in
Singapore on 12 October 1937, Malayan Airways Limited (MAL). But the first paying passengers
could be welcomed on board only some 10 years later. After the war, MAL was restructured to
include just the partnership of Straits Steamship and Ocean Steamship. The airline's first flight
was a charter flight from the British Straits Settlement of Singapore to Kuala Lumpur, on 2 April
1947, using an Airspeed Consul twin-engined aircraft.[14] This inaugural flight on the "Raja
Udang",[15] with only five passengers, departed Singapore's Kallang Airport and was bound for
Kuala Lumpur's Sungai Besi Airport. Weekly scheduled flights quickly followed from Singapore
to Kuala Lumpur, Ipoh and Penang from 1 May 1947 with the same aircraft type. [16] The airline
continued to expand during the rest of the 1940s and 1950s, as other British Commonwealth

airlines (such as BOAC and Qantas Empire Airways) provided technical assistance, as well as
assistance in joining IATA. By 1955, Malayan Airways' fleet had grown to include a large
number of Douglas DC-3s, and went public in 1957. Other aircraft operated in the first two
decades included the Douglas DC-4 Skymaster, the Vickers Viscount, the Lockheed L-1049
Super Constellation, the Bristol Britannia, the de Havilland Comet 4 and the Fokker F27. Over
the next few years, the airline expanded rapidly, boosted by post-war air travel demand when
flying became more than a privilege for the rich and famous. By 12 April 1960, the airline was
operating Douglas DC-3s, Super Constellations and Viscounts on new routes from Singapore to
Hong Kong, and from Kuala Lumpur to Bangkok via Penang. Flights were also introduced from
Singapore to cities in the Borneo Territories, including Brunei, Jesselton (now Kota Kinabalu),
Kuching, Sandakan and Sibu.
With the delivery of an 84-seat Bristol Britannia in 1960, the airline launched its first long-haul
international flight, to Hong Kong. When Malaya, Singapore, Sabah and Sarawak formed the
Federation of Malaysia in 1963, the airline's name was changed, from "Malayan Airways" to
"Malaysian Airways" (though still abbreviated to MAL). MAL also took over Borneo Airways.
In 1966, following Singapore's separation from the federation, the airline's name was changed
again, to Malaysia-Singapore Airlines (MSA). The next year saw a rapid expansion in the
airline's fleet and routes, including the purchase of MSA's first Boeing aircraft: the Boeing 707s,
as well as completion of a new high-rise headquarters in Singapore. Boeing 737s were added to
the fleet soon afterward.
The differing needs of the two shareholders, however, led to the break-up of the airline just 6
years later. The Singapore government preferred to develop the airline's international routes,
while the Malaysian government had no choice but to develop the domestic network first before
going regional and eventually international. MSA ceased operations in 1972, with its assets split
between two new airlines; Malaysian Airline System (MAS), and Singapore Airlines.
With the Singapore government determined to develop Singapore Airlines' international routes, it
took the entire fleet of seven Boeing 707s and five Boeing 737s, which would allow it to
continue servicing its regional and long-haul international routes. Since most of MSA's
international routes were flown out of Singapore, the majority of international routes were in the

hands of Singapore Airlines. In addition, MSA's headquarters, which was located in Singapore,
became the headquarters of that airline.
The initials MSA were well regarded as an airline icon, and both carriers tried to use them.
Malaysian went for MAS by just transposing the last two letters and choosing the name
Malaysian Airline System, while Singapore originally proposed the name Mercury Singapore
Airlines to keep the MSA initials, [17] but changed its mind and went for SIA instead. Acronyms
for airline names later became less fashionable, and both carriers then moved on to their
descriptive names.
Malaysian Airline System took all domestic routes within Malaysia and international routes out
of that country, as well as the remaining fleet of Fokker F27's. It began flights on 1 October 1972
and soon expanded, including introducing flights from Kuala Lumpur to London.[18]
In that year MAS operated flights to more than 34 regional destinations and six international
services. In 1976, after receiving its DC-10-30 aircraft, MAS scheduled flights reached Europe,
with initial flights from Kuala Lumpur to Amsterdam, Paris and Frankfurt.
An economic boom in Malaysia during the 1980s spurred growth at Malaysia Airlines. By the
end of the decade MAS was flying to 47 overseas destinations, including eight European
destinations, seven Oceania destinations, and United States destinations of Los Angeles and
Honolulu. In 1993 Malaysia Airlines reached South America when the airline received its Boeing
747 aircraft. MAS became the first airline in Southeast Asia to serve South America via its
flights to Buenos Aires, Argentina. Malaysia Airlines also flew to Mexico City between 1994 and
1998 with fifth-freedom rights to carry passengers between Mexico City and Los Angeles, en
route to Kuala Lumpur.
Prior to the Asian Financial Crisis in 1997, the airline suffered losses of as much as RM 260
million after earning a record-breaking RM333 million profit in the financial year 1996/1997.
The airline then introduced measures to bring its P&L back into the black. For the financial year
1999/2000, the airline cut its losses from RM700 million in the year 1998/1999 to RM259
million. The airline plunged into further losses in the following year, however, amounting to

RM417 million in FY2000/2001 and RM836 million in FY2001/2002. With these losses, the
airline cut many unprofitable routes, such as Brussels, Darwin, Madrid, Munich and Vancouver.
The airline recovered from its losses in the year 2002/2003. It achieved its then-highest profit in
the year 2003/2004, totaling RM461 million.
In the year 2005, Malaysia Airlines reported a loss of RM1.3 billion. Revenue for the financial
period was up by 10.3% or RM826.9 million, compared to the same period for 2004, driven by a
10.2% growth in passenger traffic. International passenger revenue increased by RM457.6
million or 8.4%, to RM5.9 billion, while cargo revenue decreased by RM64.1 million or 4.2%, to
RM1.5 billion. Costs increased by 28.8% or RM2.3 billion, amounting to a total of RM 10.3
billion, primarily due to escalating fuel prices. Other cost increases included staff costs, handling
and landing fees, aircraft maintenance and overhaul charges, Widespread Assets Unbundling
(WAU) charges and leases.[19]
The Government of Malaysia appointed Idris Jala as the new CEO on 1 December 2005, to
execute changes in operations and corporate culture. Several weaknesses in airline operations
were identified as the causes of the RM1.3 billion loss. These included esclating fuel prices,
increased maintenance and repair costs, staff costs, low yield per available seat kilometre
("ASK") via poor yield management and an inefficient route network. Under the leadership of
Idris Jala, Malaysia Airlines launched its Business Turnaround Plan in 2006, developed using the
Government-linked company (GLC) Transformation Manual as a guide.
The most substantial factor in the losses was fuel costs. For the period, the total fuel cost was
RM3.5 billion, representing a 40.4% increase compared to the same period in 2004. Total fuel
cost increases comprised RM977.8 million due to higher fuel prices and another RM157.6 [19]
million due to additional consumption. In the third quarter, fuel costs were RM1.26 billion,
compared to the RM1.01 billion in the corresponding period in 2004, resulting in a 24.6%
increase or RM249.3 million.[19]
Another factor for the losses was poor revenue management. MAS substantially lagged its peers
on yield. Some of this gap was due to differences in traffic mix, [20] with less business traffic to
and from Malaysia than to and from Singapore, but much of it was due to weaknesses in pricing

and revenue management, sales and distribution, brand presence in foreign markets, and alliance
base. Malaysia Airlines has one of the lowest labour costs per ASK at USD0.41, compared to
other airlines such as Cathay Pacific and Singapore Airlines at USD0.59 and USD0.60[20]
respectively. Despite low labour costs, however, the ratio of ASK revenue to this cost was, at 2.8,
much lower than Singapore Airlines, where the ratio is 5.0, and slightly higher than Thai
Airways[20]
There are other factors listed in the Business Turnaround Plan of Malaysia Airlines, all leading to
the net loss of RM1.3 billion in the year 2005.
Under the various initiatives, launched together with the Business Turnaround Plan, Malaysia
Airlines switched from losses to profitability between FY2006 and FY2007. When the Business
Turnaround Plan came to an end, the airline posted a record profit of RM853 million(USD265
million) in 2007, ending a series of losses since 2005. The result exceeded the target of RM300
Million by 184%.[21]
Route rationalising was one of the major contributors to the airline's return to profitability.
Malaysia Airlines pared its domestic routes from 114 to 23, and also cancelled virtually all
unprofitable international routes. Apart from that, Malaysia Airlines also rescheduled all of its
flight timings and changed its operations model from point-to-point services to hub and spoke
services.
Additionally, the airline started Project Omega and Project Alpha to improve the company's
network and revenue management. Emphasis has been placed on six areas: pricing, revenue
management, network scheduling, opening storefronts, low season strategy and distribution
management.
Malaysia Airlines has been involved in discussions for new aircraft purchases, using its cash
surplus of RM5.3 billion to eventually purchase narrow-body aircraft and wide-body aircraft.[22]
Despite these achievements, critics continue to deride the carrier for lagging behind its
competitors in the region. This notion is not helped by the fact Malaysia Airlines has not made

substantial investments in customer service, especially compared to Thai Airways or Singapore

Airlines.
On 22 December 2009, Malaysia Airlines announced the purchase of 15 new Airbus A330
aircraft, with options for another 10. Expected to be delivered between 2011 and 2016, they are
intended to operate on medium-haul routes to eastern Asia, Australia, and the Middle East. The
airline's plans are to run Airbus A380 planes, which were introduced into service in 2012, on
long-haul routes, A330s on medium-haul routes, and Boeing 737 aircraft on short-haul routes.
Under this plan, it is unclear where Boeing wide-bodies currently in the fleet would fall.[23]
Malaysia Airlines recorded a stunning net loss of MYR2.52 billion for the full year 2011, which
was the largest in its company history, due to rising fuel costs and mismanagement. [24] A major
restructuring to the Board of the Company saw the appointment of a new Group Chief Executive
Officer. Ahmad Jauhari Yahya was appointed as Group CEO in September 2011. One of the first
initiatives to stop the losses was a rationalisation of the network. The company suspended
services to Surabaya, Karachi, Dubai, Dammam[25] and Johannesburg in January 2012, and
ceased flights to Cape Town, Buenos Aires as well as Rome in February 2012.
On 28 February 2013, Ahmad Jauhari Yahya, Group Chief Executive Officer of Malaysia
Airlines, reported a net profit of RM51.4mil for the fourth quarter, reversing the net loss of
RM1.3bil a year earlier. MAS' improved financial performance last year was mainly attributable
to its route rationalisation programme, which saw an overall 8% reduction in available seat
kilometre (ASK). This was matched by a marginal 1% reduction in revenue to RM13.76bil in
2012 and seat factor holding at 74.5%. The reduced ASK also helped MAS register a
corresponding 14% decrease in expenditure.[26]
In 2014, Malaysia Airlines lost two Boeing 777 aircraft within 131 days, with a total of
537 passengers and crew lost. Flight 370 disappeared in an unknown location (most likely in the
Southern Indian Ocean) on 8 March with 239 people on board, leaving little evidence behind;
little debris from the plane has been found, all of it off the coast of Runion.[27][28] Flight 17
crashed in eastern Ukraine on 17 July with 298 people on board, after being shot down with a
Buk surface-to-air missile.[29]

Malaysia Airlines was struggling to cut costs to compete with a wave of new, low-cost carriers in
the region when Flight 370 vanished without a distress signal. Malaysia Airlines lost
RM443.4 million (US$137.4 million) in the first quarter of 2014.[30] The second quarterthe first
in the aftermath of Flight 370's disappearancesaw a loss of RM307.04 million
(US$97.6 million), which represented a 75% increase over losses from the second-quarter of
2013.[31] Malaysia Airlines has not made a profit since 2010. [31] In the previous three years,
Malaysia Airlines had booked losses of: RM1.17 billion (US$356 million) in 2013,
RM433 million in 2012, and RM2.5 billion in 2011.[32] Industry analysts expect Malaysia
Airlines to lose further market share and face a challenging environment to stand out from
competitors while addressing their financial plight.[32] The company's stock, down as much as
20% following the disappearance of Flight 370, had fallen 80% over the previous five years,
which contrasts with a rise in the Malaysian stock market of about 80% over the same period.
[33]

A month after the disappearance, Malaysia Airlines' chief executive Ahmad Jauhari Yahya
acknowledged that ticket sales had declined but failed to provide specific details. This may
partially result from the suspension of the airline's advertisement campaigns following the
disappearance. In China, where the majority of passengers were from, bookings on Malaysia
Airlines were down 60% in March. [33] Mr. Ahmad said he wasn't sure when the airline could start
repairing its image, but that the airline was adequately insured to cover the financial loss
stemming from Flight 370's disappearance.[30][32] In August, the airline warned of poor secondhalf earnings, citing a 33% decline in average weekly bookings following the loss of Flight 17. [31]
Media reported that some flights were largely empty and that the airline had slashed prices well
below competitors on several important routes.[33][34][35]
Malaysia Airlines originally planned to sell off or lease its entire fleet of six Airbus A380s,
however as of July 2015, former Aer Lingus CEO Christoph Mueller, who was appointed CEO
in May, announced that it was too early, and opted to retire only two, pulling them from the KLParis route. Mueller also stated the airline is technically bankrupt. As part of the restructuring,
6,000 employees received termination letters.

Even before the crash of Flight 17, many analysts and the media suggested that Malaysia Airlines
would need to rebrand and repair its image and/or require government assistance to return to
profitability.[36][37][38][39][40] On 8 August, trading in the company's stock was temporarily suspended
when Khazanah Nasionalthe majority shareholder (69.37%)[41] and a Malaysian state-run
investment armrequested that MAS's Board of Directors undertake a selective capital
reduction exercise (e.g. buyback or cancel stock of other shareholders); [42] Khazanah announced
it will spend 1.38 billion ringgit (US$431 million; 27 sen per share) to compensate minority
shareholders (a 12.5% premium of 7 August closing price). [43][44][45] At the time, Khazanah
Nasional did not announce much about its plans for the airline except that the airline had
"substantial funding requirements"[43] and that a "comprehensive review and restructuring"[43] was
needed.
On 29 August, Khazanah released a reportRebuilding a National Icon: The MAS Recovery
Plan[46]which outlines their plan for the restructuring of MAS and the process of completing
the takeover. About 6,000 jobs (about 30% of MAS's workforce) will be eliminated and the
carrier's route network will be shrunk to focus on regional destinations rather than unprofitable
long-haul routes.[47] Khazanah plans to de-list the airline from Malaysia's stock exchange by the
end of 2014 and plans to return it to profitability by late 2017, re-listing the airline by 2018 or
2019.[47] On the business/legal side, Khazanah intends to transfer the relevant operations, assets,
and liabilities of Malaysian Airline System Berhad into a new company (no name given in
documents) by July 2015.[46]:2
During May 2015 it was announced that the airline will be transferred to a newly founded
Malaysia Airlines Berhad by 1 September 2015, with rebranding of the airline also commences
that day. The new company will see an heavily reduced workforce and adjusted route network
with focus on Asia according to its new CEO, Christoph Mueller.[48] He also announced that
Malaysia Airlines put two of its Airbus A380s up for sale.[48]
On September 10, 2015, Malaysia Airlines Berhad announced that they will add 4 new Airbus
A350-900 XWB series aircraft to their fleet by 2017 to the middle of 2018. The aircraft will be
leased from Air Lease Cooperation. The airline also expects to add two more A350-900s as well
as two A330-900neo aircraft in the upcoming future. The CEO of MAB, Christoph Mueller is

expecting the A350's to deliver exceptional passenger comfort and improve the overall efficiency
of their fleet.
On October 11, 2015, Malaysia Airlines Berhad announced that it is set to undergo a brand
overhaul involving a new name, logo and livery for its aircraft, with the changes to be unveiled
on a date unknown. On November 3, 2015, Malaysia Airlines introduced their new business class
seats which will be fitted on all of their A330's by September 2016. The CEO also said that they
will consider on introducing Premium Economy Class next year.
In April 2016, Malaysian Airlines CEO Christoph Mueller, resigned from his post after less than
one year of leading the carriers reorganising efforts, frustrated from political interference and
criticism that his efforts so far had no immediate effect on the airlines performance.
Mueller will continue to serve until September 2016 and will stay on the airlines board as a nonexecutive director to oversee the transition to a new CEO.[49]
Malaysia Airlines is listed on the stock exchange of Bursa Malaysia under the name Malaysian
Airline System Berhad. The airline suffered high losses over the years due to poor management
and fuel price increases. As a result of financial restructuring (Widespread Asset Unbundling)
[19]

in 2002, led by BinaFikir, Penerbangan Malaysia Berhad became its parent company,

incorporated in 2002, in exchange for assuming the airline's long-term liabilities. On the
operational side, the Government of Malaysia appointed Idris Jala as the new CEO on 1
December 2005, to execute changes in operations and corporate culture. Under his leadership,
Malaysia Airlines unveiled its Business Turnaround Plan (BTP) in February 2006, which
identified low yield, an inefficient network and low productivity (overstaffing).
Following the Widespread Asset Unbundling (WAU) restructuring of Malaysia Airlines,
Malaysian Government investment arm and holding company, Khazanah Nasional's subsidiary,
Penerbangan Malaysia Berhad

[50]

is the majority shareholder with a 52.0% stake.[50] After

Penerbangan Malaysia Berhad, the second-largest shareholder is Khazanah Nasional, which

holds 17.33% of the shares. Minority shareholders include Employees Provident Fund Board
(10.72%), Amanah Raya Nominees (Tempatan) Sdn Bhd (5.69%), State Financial Secretary

Sarawak (2.71%), foreign shareholders (5.13%)[50] and Warisan Harta Sabah (2.4%). It has
19,546 employees (as of March 2007).[51]

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