The development has been revealed by representatives of the Public Private Partnership Commission-PPPC.
The remaining 51 percent of the company’s shares are held by the Malawi Government.
The government was expected to offload 31 percent of its shares to the public after a year.
But four years down the line, the 31 percent share holding is yet to hit the stock market.
Chief Executive Officer of the PPPC, Jimmy Lipunga emphasizes that the public should understand the scope of the aviation business in Malawi.
“Airline business is extremely complex and in this particular case, things were made worse by the fact that Air Malawi which was there before Malawian Airlines, particularly in the latter days things were so bad and so to try and win back public confidence took a bit of time” said Lipunga.
He however pointed out that the company is making strides to start making profits let alone list on the Malawi Stock Exchange.
“Where we are now is that the airline is still trying to consolidate its operations and that is being achieved by trying to add more destinations” added Lipunga.