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10. Malaysia Airlines

Fleet size: 84
Hub: Kuala Lumpur

Malaysia Airlines breaks back into the top 10 rankings of the world’s best airlines after placing 12th last year. It was ranked as high as sixth in 2008.

The airline also won the top honor for the best cabin staff and best catering signature dish for its "satay service" this year. Founded in 1947, Malaysia Airlines is one of the oldest carriers on the list and has been undergoing a major overhaul in recent years to modernize its fleet. It made headlines earlier this month when it took delivery of its first Airbus A380 at the Farnborough Airshow.The A380 (pictured) is one of four aircraft that Malaysia Airlines expects to receive this year, with two more to be delivered in 2013.

The A380s are also a key part of a strategy to turn around a flurry of dismal earnings from the airline recently. In May, the carrier reported a first quarter net loss of nearly $54.6 million,smaller than the $76 million loss reported in the same quarter a year earlier. In 2011, the airline had reported a more than $793 million loss — the biggest in its history.

Photo: Carl Court | AFP | Getty Images