Brand Finance’s Airlines 50 2026 report shows Malaysia ranks 14th globally by total airline brand value at $3 billion
KUALA LUMPUR, 5 May 2026 – Malaysia Airlines records the biggest brand value growth among Malaysian airline brands in the latest Airlines 50 2026 report by Brand Finance, the world’s leading brand valuation consultancy. Meanwhile, AirAsia records a 17% brand value growth as the sector continues to navigate global travel trends.
Malaysia’s airline sector recorded strong growth, with its total brand value increasing 19% year-on-year to USD3 billion, ranking 14th globally. This reflects improving performance across both full-service and low-cost airline segments, supported by sustained travel demand.
Malaysia Airlines (brand value up 27% to USD771 million) climbs four places to rank 41st globally. The increase reflects improved revenue forecasts, operational recovery, and a clearer strategic direction as the airline transitions into its next phase of growth.
The latest ranking marks a structural shift in Malaysia Airlines’ strategy, moving from post-pandemic stabilisation towards premium positioning and international expansion. Under its Long-Term Business Plan 3.0, the airline is focused on becoming a leading Asia-Pacific carrier, supported by network expansion, fleet modernisation, and enhanced customer experience.
This pivot towards international connectivity has strengthened revenue resilience and aligns with broader industry trends, where premium travel and long-haul demand are increasingly supporting brand value growth.
AirAsia (brand value up 17% to USD2.3 billion) remains the third most valuable low-cost carrier brand globally, supported by strong passenger demand, expanding regional connectivity, and a return to full capacity. It also ranks as the sixth strongest airline brand globally, rising from 11th in 2025, with a Brand Strength Index (BSI) score of 87.7/100 and a AAA brand strength rating.
Growth across low-cost carriers in the region reflects recovery and ongoing expansion, driven by rising demand and improving connectivity across Asia-Pacific.
AirAsia's performance is backed by improved operational efficiency and cost management, with profitability strengthening alongside capacity recovery. Underlying performance remained resilient, supported by efficient capacity deployment and a disciplined approach to scaling operations.
AirAsia has also focused on disciplined network optimisation and asset productivity, with capacity redeployed towards more efficient and strategically aligned markets. This prioritisation of value over volume reflects a more targeted growth strategy, enhancing overall network performance.
Alex Haigh, Managing Director Asia Pacific, Brand Finance, commented:
"Malaysia Airlines’ performance this year reflects a clear strategic inflection point, as the airline moves beyond restructuring into a more premium, internationally focused model. This shift is supported by its focus on premium positioning, international network expansion, and strengthening global partnerships. AirAsia, meanwhile, continues to benefit from strong demand and expanding regional connectivity, alongside a return to full capacity, underscoring the strength of the low-cost model in Southeast Asia."
Global Insights
The combined brand value of the world’s top 50 airlines has risen 11% year-on-year to USD147 billion, reflecting sustained international travel demand, operational discipline, and strategic investments in premium offerings, despite fuel price instability and ongoing geopolitical tension in the Middle East.
Delta retains its position as the world’s most valuable airline brand, with its brand value rising 25% to USD18.6 billion. The airline’s industry-leading reliability and commitment to service excellence continue to strengthen customer loyalty across domestic and international markets.
ANA (brand value up 23% to USD2.9 billion) has been named the strongest airline brand in the world, with a Brand Strength Index (BSI) score of 90.2/100 and an AAA+ rating. Its strength reflects strategic international expansion, operational excellence, and market leadership.
Vietjet is the fastest-growing airline brand in 2026, with its brand value soaring 117% to USD906 million. The brand’s growth is mainly driven by strategic international expansion and diversified ancillary revenues.
Meanwhile, Paris Aéroport tops the global airport ranking with a 36% brand value rise to USD1 billion, overtaking Heathrow Airport (brand value down 2% to USD972 million), driven by rising passenger traffic and strategic pricing initiatives. Singapore’s Changi Airport (brand value up 16% to USD889 million) remains the strongest airport brand worldwide, with a BSI score of 91.2/100 and an AAA+ brand strength rating, thanks to record passenger traffic, customer satisfaction, and award-winning service. Schiphol Airport (brand value up 39% to USD540 million) is the fastest-growing airport brand, benefiting from rising European travel demand and expanded connectivity.
Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance, Brand Finance evaluates the strength of brands and quantifies their financial value to help organisations make strategic decisions.
Headquartered in London, Brand Finance operates in over 25 countries. Every year, Brand Finance conducts more than 6,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.
Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on 6,000 brands, surveying more than 175,000 respondents across 41 countries and 31 industry sectors. By combining perceptual data from the Global Brand Equity Monitor with data from its valuation database — the largest brand value database in the world — Brand Finance equips ambitious brand leaders with the data, analytics, and the strategic guidance they need to enhance brand and business value.
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics, compliant with ISO 20671.
Brand Finance is a regulated accountancy firm and a committed leader in the standardisation of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.
Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.
Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.
Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.
Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.
The steps in this process are as follows:
1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.
2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.
3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.
4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.
5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.
6 Apply the royalty rate to the forecast revenues to derive brand revenues.
7 Discount post-tax brand revenues to a net present value which equals the brand value.
Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.
The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.
