Asia

Malaysia Airlines inks $5.5B deal for 50 Boeing Max jets

Associated Press
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Malaysia Airlines Berhad (MAS) new Chief Executive Officer Peter Bellew smiles after a singing ceremony with Boeing in Putrajaya, Malaysia, Wednesday, July 27, 2016. Malaysia Airlines Berhad and Boeing announced today a deal of 50 new 737 Max aircraft. (AP Photo/Vincent Thian) (The Associated Press)

Malaysia Airlines Berhad (MAS) new Chief Executive Officer Peter Bellew holds a Boeing 737 MAX airplanes model after a singing ceremony with Boeing in Putrajaya, Malaysia, Wednesday, July 27, 2016. Malaysia Airlines Berhad and Boeing announced today a deal of 50 new 737 Max aircraft. (AP Photo/Vincent Thian) (The Associated Press)

Malaysia Airlines Berhad (MAS) new Chief Executive Officer Peter Bellew smiles after a singing ceremony with Boeing in Putrajaya, Malaysia, Wednesday, July 27, 2016. Malaysia Airlines Berhad and Boeing announced today a deal of 50 new 737 Max aircraft. (AP Photo/Vincent Thian) (The Associated Press)

Malaysia Airlines has inked a deal for 50 Boeing Max planes in a deal worth $2.75 billion as part of its fleet renewal and says it hopes for a listing on the stock exchange by 2019.

The airline's new CEO, Peter Bellew, says the deal includes 25 firm orders, worth $2.75 billion and the right to purchase another 25 jets, with deliveries to start in 2019. Airlines usually get a discount from aircraft list prices.

Bellew said Wednesday the carrier is on track to become profitable by 2018 and that it aims to be listed on the local exchange by March 2019.

The ailing national carrier is undergoing a $1.56 billion overhaul after it was taken private by the government after the disappearance of its MH370 flight in March 2014.