Malaysia Airlines plans to restructure its fleet to improve the business and turn the operation towards making profits.
The CEO of the carrier Peter Bellew said, “There is a mismatch at the moment, with 70 percent of the airline’s current fleet of 69 planes comprising single-aisle, narrow-bodied aircraft for short- and medium-haul routes, making it appear more like a low-cost carrier.”
He further mentioned, “The airline expects to increase its fleet size to 80 planes by 2022, of which 45 percent will be wide-bodied aircraft.
Corresponding with the restructuring programme, Malaysian Airline intends ordering 35 wide-bodied planes.
It has already ordered eight Boeing wide-bodied 787 Dreamliners and eight single-aisle 737 Max jets three weeks ago.
Though there are criticisms against the airline buying new planes while making losses, the CEO has justified his decision quoting the advantages including the possibility of commencing long-haul routes.
He also said, “No new funding would be required because the wide-bodied planes will mostly replace narrow-bodied ones that will retire over the next few years. The airline plans to arrange for a sale and lease back arrangement for new planes that will cut cost and make it financially more competitive.”