The campaign called on Australian and New Zealand residents to write their own bucket list and enter it into a competition to win flights to Malaysia and iPads.
But with the world still reeling from the twin catastrophes of the MH370 and MH17 crashes, social media users swiftly began mocking the marketing ploy.
It has since been re-branded around "your ultimate to-do list".
"The competition had earlier been approved as it was themed around a common phrase that is used in both countries," the airline said in a statement.
"The airline appreciates and respects the sentiments of the public and in no way did it intend to offend any parties."
Often associated with the terminally ill, a "bucket list" refers to the places one wants to visit or the experiences one wishes to have before they die.
The aftermath of the twin crashes has reportedly crippled the company financially, with plummeting share prices, near-empty flights and the axing of 6000 jobs fuelling speculation that the company is contemplating filing for bankruptcy.
But the airline described bankruptcy talk as "completely false", saying it would "emerge stronger" after privatisation and restructuring.
Source: Sidney Morning Herald