In a note today, it said a majority of the aircraft were narrow–bodied with a lower seat count, while in 2013, most were large wide-body aircrafts with massive seating capacity.
"Other factors such as sustained gross domestic product growth and the Visit Malaysia Year 2014 will be supportive of the growth," said the investment bank.
Passenger traffic growth soared 18.4% year-on-year in 2013, the highest in the world, and was Malaysia's best performance in 21 years.
The airline industry achieved a record 81% load factor in 2013, the first time it cracked the 80% mark.
The Kuala Lumpur International Airport's 2013 traffic growth of 19.1% year-on-year to 47.5 million passengers made it the fastest–growing major airport in the world.
"As for Malaysian Airlines, it achieved the best year-on-year improvement, while AirAsia and AirAsia X both receded slightly last year," said Maybank IB.
It had maintained an "overweight" call on the aviation industry and rated AirAsia to "top buy", AirAsia X (buy), Malaysian Airlines (hold) and Malaysia Airports Holdings Bhd to (sell). – Bernama, February 17, 2014.