Malaysia Airlines Berhad inked a deal with Boeing on Wednesday to buy 50 B737 MAX aircraft valued at $5.5 billion, signaling that the troubled state-owned air carrier is on track to recovery.
"Malaysia Airlines is now on a path to growth across the ASEAN region. This new aircraft order will set the stage for our continued recovery and success into the next decade," said Peter Bellew, the airline's new chief executive.
MAB placed 25 firm orders and 25 purchase rights for the upgraded version of the Boeing 737 with deliveries commencing in 2019 as it sought to replace some of its aging fleet. MAB currently operates 56 B737s.