New data from Brand Finance reveals the collective brand value of Malaysian airline brands more than doubles to reach $2.5 billion, driven by Malaysia Airlines’ strong comeback
KUALA LUMPUR, 22 April 2025 – Malaysia Airlines has reached a significant milestone this year by becoming the world’s fastest growing airline brand, according to the latest Airlines 50 2025 report by Brand Finance, the world’s leading brand valuation consultancy.
Malaysia Airlines (brand value up 209% to USD607 million) now ranks 45th globally, marking a strong comeback to the ranking after a decade. Fleet renewal initiatives, strategic route realignments, a commitment to digital transformation, and international expansions are key factors fuelling this growth.
Malaysian Airlines has also achieved a Brand Strength Index (BSI) score of 78.2/100 and an AA+ brand strength rating. According to Brand Finance’s research data, this performance is driven by high levels of consideration, preference, and word-of-mouth recognition in its home market, underscoring strong domestic loyalty and trust.
Meanwhile, airasia (brand value up 66% to USD1.9 billion) climbed two positions to secure the 24th rank this year. Its growth is driven by strong financial performance, bolstered by robust passenger load factors achieved through increased operational capacity and a corresponding rise in passenger volumes. Notably, the airline strategically expanded its network with new flights to Chongqing, China, and Nairobi, Kenya and increased frequencies on key routes to meet peak travel season demand.
The brand also ranks as the 11th strongest airline brand globally, with a BSI score of 84.2/100 and a AAA- brand strength rating.
Alex Haigh, Managing Director Asia-Pacific, Brand Finance, commented:
“Malaysia Airlines’ resurgence as the fastest-growing airline brand globally underscores the success of its strategic transformation and the effectiveness of agile, real-time pivots in driving its comeback to the ranking. Meanwhile, airasia continues to demonstrate resilience and financial agility, capitalising on strategic network expansion initiatives. Together, these two Malaysian carriers highlight the strength and dynamic potential of the nation’s aviation industry on the global stage”.
Brand Finance also released the Airports 25 2025 sub-ranking as part of its Airlines 50 2025 report. Malaysia Airports (brand value up 83% to USD184 million) ranked as the seventh strongest airport brand globally, achieving a BSI score of 80.3/100 and an AAA- brand strength rating this year.
Global Insights
The combined brand value of the world’s top 50 airlines surged by 29% to USD132.6 billion, reflecting the continued recovery of global aviation. As demand for long-haul and premium leisure travel outpaces budget options, full-service carriers (FSCs) are outperforming low-cost competitors in both growth and value share.
Delta has retained its title of the world’s most valuable airlines brand for the seventh year running. The US carrier’s brand value increased by 38% to USD14.9 billion, driven by strong financial performance, premium revenue growth, and continued investments in customer experience and sustainability.
Southwest Airlines is the world’s strongest airline brand, earning a BSI score of 91.1 out of 100. The US low-cost giant scores highly for reputation, recommendation, and customer loyalty, according to Brand Finance data.
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 evaluating marketing investment, stakeholder equity, and business performance, 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.
