Editing Malaysia Airlines (section)

===2020–2025: COVID-19 pandemic, fourth unprofitability, turnaround, and ongoing management crisis===
On 6 April 2020, the Malaysian private equity firm Golden Skies Ventures reportedly made an offer of US$2.5 billion to take over Malaysia Airlines during the [[COVID-19 pandemic]].<ref>{{cite news |url=https://www.straitstimes.com/asia/se-asia/private-firm-bids-s358-bil-for-holding-company-of-malaysia-airlines|title=Private firm bids $3.58 billion for holding company of Malaysia Airlines|last=hermesauto|date=2020-04-06|website=The Straits Times|language=en|access-date=2020-04-07}}</ref> The pandemic also resulted in the airline grounding most of its Boeing 737 aircraft.<ref name="Malaysia Airlines details maintenance plan amid pandemic grounding">{{citation|date=|title=Malaysia Airlines details maintenance plan amid pandemic grounding|url=https://www.flightglobal.com/airlines/malaysia-airlines-details-maintenance-plan-amid-pandemic-grounding/138454.article|work=www.flightglobal.com|access-date=2024-01-31}}</ref>

In October 2020, during the COVID-19 pandemic, Malaysia Airlines needed about RM1 billion of capital annually if the government intended to sustain its operations under the current structure.<ref>{{cite web |date=2019-10-24|title=Malaysia Airlines needs RM1b cash injection a year to survive |website=The Edge Markets |url=http://www.theedgemarkets.com/article/malaysia-airlines-needs-rm1b-cash-injection-year-survive|access-date=2020-12-01}}</ref> The airline also decided to retire and return all 6 of its grounded Airbus A380 aircraft to [[Airbus]] in 2023 as the viability to operate the double decker fleet became difficult as grounding persisted.<ref>{{cite news |title=Malaysia Airlines to return A380s to Airbus by 2023|website=CHaviation |url=https://www.ch-aviation.com/portal/news/119973-malaysia-airlines-to-return-a380s-to-airbus-by-2023}}</ref>

In 2022, the airline improved its financial margin through restructuring. It switched a majority of its passenger aircraft in year of Q2 2020 to Q1 2022 into cargo flights, leveraging on its ability to support the disrupted supply chain system in Asia.<ref>{{cite web |title=MAG's Performance Improved by 60% YoY on the Back of a Successful Restructuring and Stronger Cargo Performance Despite 70% Capacity Reduction in Passenger ASK YoY. |website=Malaysia Airlines|url=https://www.malaysiaairlines.com/my/en/mh-media-centre/news-releases/2022/malaysia-aviation-group-annual-performance.html|access-date=2023-11-16}}</ref><ref>{{cite web |title=MASKargo transports medical goods in Malaysia's fight against Covid-19 |website=aircargonews |date=30 March 2020 |url=https://www.aircargonews.net/airlines/maskargo-transports-medical-goods-in-malaysias-fight-against-covid-19/}}</ref> The Airline also undertook multiple foreign repatriation missions, transporting stranded citizens<ref>{{cite web|url=https://www.nst.com.my/business/2021/01/660231/malaysia-airlines-continues-flying-despite-raging-covid-19-pandemic%C2%A0|title=Malaysia Airlines continues flying despite raging Covid-19 pandemic|date=25 January 2021 |access-date=5 December 2023}}</ref>  back to their home countries along with flying medical equipment and vaccines.<ref>{{cite web|url=https://www.malaysiaairlines.com/my/en/news-article/2020/malaysia-airlines-flies-new-destinations-covid-19.html|title=Malaysia Airlines Flies to New Destinations During COVID-19|date=22 October 2020|access-date=3 December 2023}}</ref><ref>{{cite web|url=https://www.malaymail.com/news/malaysia/2020/03/30/malaysia-airlines-to-fly-in-over-10-million-masks-ventilators-from-china/1851675|title=Malaysia Airlines To Fly In Ventilators And Over 10 Million Masks from China|date=30 March 2020}}</ref><ref>{{cite web|url=https://www.straitstimes.com/asia/se-asia/plane-carrying-covid-19-vaccines-touches-down-at-malaysias-international-airport|title=Plane carrying Malaysia's first batch of Covid-19 vaccines arrives at KL International Airport |website=the strait times|date=22 February 2021}}</ref> In the same year, the airline reported a net profit of RM1.15 billion in the fourth quarter of 2022 with its total net loss reduced to RM344 million from RM1.65 billion a year ago.<ref>{{cite web |title=Malaysia Airlines' parent MAG posts best ever quarterly performance |website=New Straits Times |date=18 April 2023 |url=https://www.nst.com.my/business/2023/04/900785/malaysia-airlines-parent-mag-posts-best-ever-quarterly-performance}}</ref>

In 2023, as a result of positive cash flow, Malaysia's sovereign wealth fund Khazanah Nasional Berhad decided it would hold on to its sole ownership of the airline until further notice. Credit lines predicted to alleviate the airline's burden were also underutilised in year 2021–2022. The sovereign fund planned to reduce its stakes on Malaysia Airlines and to allow the airline to seek strategic partnership with an international operator post 2025.<ref>{{cite news|url=https://www.ch-aviation.com/portal/news/125907-sovereign-wealth-fund-to-retain-malaysia-airlines-ownership|title=Sovereign wealth fund to retain Malaysia Airlines' ownership|newspaper=Ch-Aviation |access-date=3 December 2023|date=27 March 2023}}</ref>

In August 2023, the airline experienced issues with its primary inflight caterer BRAHIM in Kuala Lumpur International Airport. Contract disputes since the pandemic had brought both parties to non agreeable terms in regards to renewal. As a result, the airline halted a majority of its inflight hot meal services in September for flights originating from Kuala Lumpur.<ref>{{cite news | url=https://www.ch-aviation.com/portal/news/131707-no-catering-contract-in-place-at-malaysia-airlines | title=No catering contract in place at Malaysia Airlines| newspaper=Ch-Aviation}}</ref> The airline has since reintegrated hot meal services from various caterers by stages and had restored most of them by November.<ref>{{cite web| url=https://theedgemalaysia.com/node/690096 | title=Malaysia Airlines fully reinstates in-flight meal service offerings| date=15 November 2023}}</ref>

In November 2023, the airline has stated that it expects to reach full net profit for the whole year of 2023 with full break even in its entirety. The airline cited improved yields, balanced sheets and a constant positive cash flow as a result of its restructuring efforts along with the return of global travel demand post pandemic.<ref>{{cite web |title=MAG CEO says it's on track to turn first full-year net profit in 2023 |website=The Edge Markets |date=2 November 2023 |url=https://theedgemalaysia.com/node/688602|access-date=2023-11-16}}</ref> The airline has also began recommitting its narrowbody and widebody aircraft renewal program.<ref>{{cite web |title=Financial turnaround means Malaysia Airlines can invest in customer experience|website=CAPA |url=https://centreforaviation.com/analysis/reports/financial-turnaround-means-malaysia-airlines-can-invest-in-customer-experience-651348}}</ref>

In March 2024, Malaysia Aviation Group has confirmed that Malaysia Airlines and its subsidiaries has reached full net profit for year 2023. A profit after tax and interest (NIAT) of RM766 million was announced over year 2022 net loss of RM344 million.<ref>{{cite web|url=https://www.nst.com.my/business/corporate/2024/03/1028588/malaysia-aviation-group-posts-first-ever-annual-net-profit|title=Malaysia Aviation Group posts first ever annual net profit|website=New Straits Times Malaysia|date= 21 March 2024}}</ref>

Since August 2024, Malaysia Airlines faces criticism and trust lost over its management, which caused multiple technical issues, safety concerns and alleged staff poaching.<ref>{{cite web|url= https://www.marketing-interactive.com/malaysia-airlines-brand-sentiments-regain-trust |title= Technical issues, safety concerns and alleged staff poaching: How Malaysia Airlines can fight the PR turbulence |website=Marketing<nowiki>-</nowiki>Interactive|date= 1 October 2024}}</ref> The managing director of the group Datuk Captain Izham bin Ismail has criticized the Aviation industry's original equipment manufacturers (OEMs) for global parts shortage and poor quality control of aircraft parts.<ref>{{cite web|url=https://www.nst.com.my/business/corporate/2024/09/1106179/aviation-oems-must-take-responsibility-over-supply-shortage-mags|title=Aviation OEMs must take responsibility over supply shortage: MAG's Captain Izham|website=BusinessTimes|date=16 September 2024}}</ref> The airline also faced significant delays involving aircraft deliveries from both Airbus and Boeing. The airline was originally scheduled to receive 4 [[Airbus A330neo]]<ref>{{cite web|url=https://www.businesstraveller.com/business-travel/2024/10/18/malaysia-airlines-deeply-disappointed-by-a330neo-delays/|title="For the upcoming Airbus A330neo, Malaysia Airlines was scheduled to receive four aircraft this year"|website=BusinessTimes|date=18 October 2024}}</ref> and 9 [[Boeing 737 MAX]]<ref>{{cite web|url=https://www.nst.com.my/business/corporate/2024/07/1076584/mag-expects-delivery-another-seven-b737-max-8-despite-boeings|title="MAG is working closely with Boeing on the 2024 deliveries. We're expecting seven B737 MAX-8s to be delivered in the coming months with a total of nine aircraft to be delivered in 2024,"|website=newstraitstimes|date=15 July 2024}}</ref> by Q4 2024 but the airline has only received 5 from Boeing<ref>{{cite web|url=https://centreforaviation.com/news/malaysia-airlines-receives-fifth-737-max-8-1296255|title=Malaysia Airlines receives fifth 737 MAX 8|website=CAPA|date=17 December 2024}}</ref> and 1 from Airbus<ref>{{cite web|url=https://theedgemalaysia.com/node/736073|title=Malaysia Airlines takes delivery of its first A330neo from Airbus|date=29 November 2024}}</ref> in total. The delays has resulted in setbacks involving network strategy and planned aircraft renewal.<ref>{{cite web|url=https://www.businesstraveller.com/business-travel/2024/08/30/malaysia-airlines-hit-with-significant-aircraft-delivery-delays/|title=Malaysia Airlines hit with significant aircraft delivery delays|website=businesstraveller|date=30 August 2024}}</ref>

In February 2025, the airline has cautioned that it is operating back in the red for year 2024. This is due to ongoing staff attrition and OEM supply chain issues which has resulted in the airline having to cut back 18% of its scheduled flights from August to December 2024.<ref>{{cite web|url=https://theedgemalaysia.com/node/743897|title=Special Report: Malaysia Airlines back in the red as supply chain woes cloud its skies|website=The Edge Malaysia|date=19 February 2025}}</ref>Malaysia Aviation Group has announced that for FY 2024, Malaysia Airlines and its subsidiaries have recorded a small net profit of RM54mil, its third consecutive year of positive operating results.<ref>{{cite web|url=https://www.nst.com.my/business/corporate/2025/04/1203112/malaysia-airlines-parent-mag-posts-rm54mil-net-profit-3rd-year|title=Malaysia Airlines' parent MAG posts RM54mil net profit, 3rd year of consecutive positive results|website=Business Times|date=17 April 2025}}</ref>