Maszovlet was founded on 29 March 1946, as theHungarian-Soviet Civil Air Transport Joint Stock Company (Magyar-Szovjet Polgári Légiforgalmi Rt. also known as MASZOVLET). A merge between Malert, Maefort and the Hungarian part of Aeroflot.
The initial fleet consisted of 21-seat Li-2 passenger aircraft (the Soviet-licensed DC-3) and 3-seat Po-2 "taxis", used for precision air mail: sacks of mail were dropped from the aircraft when flying over its destination. In 1950, Malév's operating base moved from Budaörs to the newly opened airport at Ferihegy, where it remained.
On 25 November 1954, Hungary acquired all the Soviet shares of MASZOVLET, and renamed the company, MALÉV was born. Ilyushin Il-14 twin piston-engined transport aircraft were acquired in the late 1950s. Operations were expanded, with flights extending to nearby countries and, following the 1965 acquisition of Ilyushin Il-18 turbine propellor airliners, and the subsequent 1968 purchase of jet-powered Tupolev Tu-134s from the Soviet Union, across Europe and the Middle East.