What's up in MAS
Join Date: Jul 2007
Location: Abu Dhabi
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Me thinks MAS will not be able to post real operating profits until all the fat are cut and go on a lean / mean mode of operation. It's operating expenditure is still too high despite the VSS and cost cutting. Once the assets are all flogged off, it's gonna be a real challenge to Idris show real operating profit.
Join Date: Jun 2007
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Some of the VSS action was justified but there were also abuses which made it a joke...you will notice that wages still make up a major part of the operating expenditure. Corrupt practices are so deeply ingrained in Malaysian corporate culture as well as the industry at large that it is really a monster with thousand heads....cutting those off takes a long time.
Join Date: Aug 2007
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Aha! Creative accounting.....welcome to the real business world. Creative accounting, window dressing....you name it, they all thrive especially in a corrupted business environment.
I don't think I can make much sense of it but just pay my bonus due, and don't eat up all my cheese! Time for some crumbs to fall off the buffet wagon!
I don't think I can make much sense of it but just pay my bonus due, and don't eat up all my cheese! Time for some crumbs to fall off the buffet wagon!
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Air Maldives US$43million suit against MAS
Oops! Just as I was getting my hope high about bonus, a tuak kaki phoned and alerted me to a report about Air Maldives action against MAS. Looks like Tajuddin's **** still sticks to us...MAS management services to Air Maldives signed in the agreement between MHS and the latter. Looks like we need to further act on Dr Con's corruption report on Tajuddin!
Join Date: Jul 2007
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To curb corruption in MAS you will need to catch both big fishes and the small errant fries too. Th big fishes treat MAS like a great buffet wagon treating themselves to huge helpings; the smaller fries are equally damaging with their " cheating " ways leading to customer dissatisfaction. Not forgetting the fella who double dipped when seconded to Jet Airways in the 1990s. Also guys who tried to broke bonds and refused to pay!!
Join Date: Jul 2007
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My Darling Iris,
Love your sweet nothings.Your lengthy mails say a lot but mean little.
Love your logic. the PMS is imperfect. Grade all the staff and pay using an imperfect method.
Love your generosity.Tell the employees you are paying them miserable but good bonus.
Love your truth. The share holders are INVESTING their cash in company in hope of dividends and capital appreciation. A double whammy effect.The employees are investing their skills and time.
Should the company go bankrupt the shareholders have a claim to the company above the employees. If at all they lose only their cash. they have other sources of income. The employees will be left jobless with all the financial obligations.Definitly a double whammy!
Love your familiar technique of playing one group against another.To say bonus payment to staff is more than dividend payment to shareholders. But the truth is the company has no real dividend policy.
And to say that the pilots will be getting more increment than the other employees.That is wicked. Now the other staff will shift their focus to the pilots as the cause of all that befall them.
Love your TURUN PADANG. What is the difference between this and the previous management's Management by walking about (the golf course)?
If only you would go down on me more!
In this day and age of internet and what have you.
Love your grudging way. Lay on thickly all the POTENTIAL bad news to take whatever little joy out of the bonus.
Love your insight. The incoming high tide lifts all ships big and small plus all the rotten debris will float up. So do not be too smug. The low tide will surely come. That will tell the difference between the big ships and the leaky ones.
Love your loyalty. To power and money.Would you be around for better or for worse till death (or debt ) do us part?
PS. Really miss your guitar playing!
Love your sweet nothings.Your lengthy mails say a lot but mean little.
Love your logic. the PMS is imperfect. Grade all the staff and pay using an imperfect method.
Love your generosity.Tell the employees you are paying them miserable but good bonus.
Love your truth. The share holders are INVESTING their cash in company in hope of dividends and capital appreciation. A double whammy effect.The employees are investing their skills and time.
Should the company go bankrupt the shareholders have a claim to the company above the employees. If at all they lose only their cash. they have other sources of income. The employees will be left jobless with all the financial obligations.Definitly a double whammy!
Love your familiar technique of playing one group against another.To say bonus payment to staff is more than dividend payment to shareholders. But the truth is the company has no real dividend policy.
And to say that the pilots will be getting more increment than the other employees.That is wicked. Now the other staff will shift their focus to the pilots as the cause of all that befall them.
Love your TURUN PADANG. What is the difference between this and the previous management's Management by walking about (the golf course)?
If only you would go down on me more!
In this day and age of internet and what have you.
Love your grudging way. Lay on thickly all the POTENTIAL bad news to take whatever little joy out of the bonus.
Love your insight. The incoming high tide lifts all ships big and small plus all the rotten debris will float up. So do not be too smug. The low tide will surely come. That will tell the difference between the big ships and the leaky ones.
Love your loyalty. To power and money.Would you be around for better or for worse till death (or debt ) do us part?
PS. Really miss your guitar playing!
Join Date: Jul 2007
Location: Al Ain
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Strange that silence persists on this thread. Mascamel wrote.....MAS back on track! And bonus guys!
Idris Jala has announced the sale of up to 55 B737-800 for USD 4.2 billion. Great days ahead or the same humdrum buffet train on the roll?
Idris Jala has announced the sale of up to 55 B737-800 for USD 4.2 billion. Great days ahead or the same humdrum buffet train on the roll?
Join Date: Jul 2007
Location: Global village
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The big order for the B737-800s have finally come; good call by Idris by not going for the cheapie A320's!
Young wannabe skippers will definitely cut their teeth with the Boeings, the B737 being a great jet to get one's first jet command.
Young wannabe skippers will definitely cut their teeth with the Boeings, the B737 being a great jet to get one's first jet command.
Join Date: Dec 2007
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Sireh, absolutely right about that! Good choice MAS. Nothing like that "snap together" rubbish at the Flying Circus!
Though it is sad to see that things are pretty much "sama sama" back home.
Though it is sad to see that things are pretty much "sama sama" back home.
Join Date: Aug 2007
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The B737-800's are sure wonderful news! Looking forward to these new shiny jets and to command one for first upgrade to captaincy will be wonderful for those long suffering f/o's waiting on the wings!
Join Date: Mar 2007
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Hey there,
Dont take this wrongly, i know that MAS is not the most perfect Airline in the world, but here's what really gets under my skin.....
Why is it that none of you guys can support another pilots airline. Everyone works hard and hey screw the rest who think that flying a A320 is a mickey mouse!
Everyone of you guys trained hard and had 2 routes to making it as a pilot earlier on ie MAS, Air Asia and now the third FireFly.
Please learn to live together, and hey there will always be a jackal in every operation, but please dont discount those who have worked hard without the right connections and cables.
We all want to be good pilots but if one cant stand the other then just keep it to themselves and be a PILOT!
Dont take this wrongly, i know that MAS is not the most perfect Airline in the world, but here's what really gets under my skin.....
Why is it that none of you guys can support another pilots airline. Everyone works hard and hey screw the rest who think that flying a A320 is a mickey mouse!
Everyone of you guys trained hard and had 2 routes to making it as a pilot earlier on ie MAS, Air Asia and now the third FireFly.
Please learn to live together, and hey there will always be a jackal in every operation, but please dont discount those who have worked hard without the right connections and cables.
We all want to be good pilots but if one cant stand the other then just keep it to themselves and be a PILOT!
Join Date: Aug 2007
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MAS trivia
For MH and AK guys to comment and gadoh over!
MAS Q1 profit down 9.5% to RM120m
KUALA LUMPUR: Malaysian Airline System Bhd (MAS) reported net profit of RM120.06mil for the first quarter ended March 31, down 9.5% from RM132.71mil a year ago.
It announced Tuesday that operating profit declined to RM132.9mil from RM146.8mil a year ago due to higher operating expenses mainly from the increase in fuel cost.
Revenue was higher at RM3.75bil compared with RM3.54bil a year ago while earnings per share declined to 7.19 sen from 9.49 sen.
“The outlook for the aviation industry in 2008 is extremely challenging as fuel prices continue to escalate to record highs,” it said.
“Growing signs of a global economic slowdown, further liberalisation and increasingly excess capacity further compounded the tough business environment,” it said.
MAS said for the next quarter, the immediate focus was to manage the high fuel prices coupled with seasonal soft demand in view of the shoulder season in Europe, the United States and North Asia.
“The increased fuel surcharges and fares imposed will alter travelling patterns and frequency for both long haul leisure and business travels.
“With intensified competition coupled with huge capacity injection in 2008 especially for the Middle East and Asia, revenues are under tremendous downward pressure,” it said.
KUALA LUMPUR: Malaysian Airline System Bhd (MAS) reported net profit of RM120.06mil for the first quarter ended March 31, down 9.5% from RM132.71mil a year ago.
It announced Tuesday that operating profit declined to RM132.9mil from RM146.8mil a year ago due to higher operating expenses mainly from the increase in fuel cost.
Revenue was higher at RM3.75bil compared with RM3.54bil a year ago while earnings per share declined to 7.19 sen from 9.49 sen.
“The outlook for the aviation industry in 2008 is extremely challenging as fuel prices continue to escalate to record highs,” it said.
“Growing signs of a global economic slowdown, further liberalisation and increasingly excess capacity further compounded the tough business environment,” it said.
MAS said for the next quarter, the immediate focus was to manage the high fuel prices coupled with seasonal soft demand in view of the shoulder season in Europe, the United States and North Asia.
“The increased fuel surcharges and fares imposed will alter travelling patterns and frequency for both long haul leisure and business travels.
“With intensified competition coupled with huge capacity injection in 2008 especially for the Middle East and Asia, revenues are under tremendous downward pressure,” it said.
Join Date: Dec 2007
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No way AK as MH is OK!
Oz_TB10 ~ Everyone of you guys trained hard and had 2 routes to making it as a pilot earlier on ie MAS, Air Asia and now the third FireFly.
The sensible ones (without the right cables and connections) all left/leave for greener pastures... SQ, EK, KL...
The sensible ones (without the right cables and connections) all left/leave for greener pastures... SQ, EK, KL...
Join Date: Jul 2007
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This from The Star :
So looks like bonus is going to be ex-gratia soon! More to gadoh over!
Bumpy flight ahead for MAS
By WONG SAI WAN
ISTANBUL: Malaysia Airlines is bracing for tough times ahead due to rising fuel prices.
In view of this, its managing director/chief executive officer Datuk Seri Idris Jala said MAS had introduced cost-cutting measures and put off all unnecessary spending.
Saying the situation would be “even worse than SARS or the time when the airline nearly went bust three years ago,” he said he had met unions and other workers associations to inform them of the situation. The warning comes in the midst of jet fuel prices reaching US$171 (RM550) per barrel.
"If not for the fuel prices, our first quarter profits would be about RM800mil"- DATUK SERI IDRIS JALA
Analysts said the alarm bell raised by MAS was significant because the airline was one of the better performers in the industry over the past two years. The airline made almost RM1bil in profits last year.
The freeze on spending include freezing all recruitment and training (except with MD/ED approval), review of loss-making routes and flights, prioritising projects and expenditure.
Idris, who was speaking to Malaysian
journalists covering the International Air Transporters Association annual general meeting here, said the cost-cutting mea-sures were necessary until the situation improved.
“This time last year, jet fuel was at US$80 (RM258) per barrel and we made a profit of RM133mil for the first three months. This year, fuel prices have reached US$171 per barrel and yet we made RM120mil.
“If not for the fuel prices, our first quarter profits would be about RM800mil.”
He expressed confidence that MAS would survive the crisis because “everyone had been through it before”.
He pointed out that at least a dozen airlines in the world had folded up because of the oil crisis and he expected this figure to rise.
He confirmed that MAS fares would increase between 3% and 20% on all routes and that the Everyday Low Fare campaign was a success with MAS netting RM23mil in profits in its first two weeks.
Related Story:
IATA urges govts to help prevent airlines from going bust!
By WONG SAI WAN
ISTANBUL: Malaysia Airlines is bracing for tough times ahead due to rising fuel prices.
In view of this, its managing director/chief executive officer Datuk Seri Idris Jala said MAS had introduced cost-cutting measures and put off all unnecessary spending.
Saying the situation would be “even worse than SARS or the time when the airline nearly went bust three years ago,” he said he had met unions and other workers associations to inform them of the situation. The warning comes in the midst of jet fuel prices reaching US$171 (RM550) per barrel.
"If not for the fuel prices, our first quarter profits would be about RM800mil"- DATUK SERI IDRIS JALA Analysts said the alarm bell raised by MAS was significant because the airline was one of the better performers in the industry over the past two years. The airline made almost RM1bil in profits last year.
The freeze on spending include freezing all recruitment and training (except with MD/ED approval), review of loss-making routes and flights, prioritising projects and expenditure.
Idris, who was speaking to Malaysian
journalists covering the International Air Transporters Association annual general meeting here, said the cost-cutting mea-sures were necessary until the situation improved.
“This time last year, jet fuel was at US$80 (RM258) per barrel and we made a profit of RM133mil for the first three months. This year, fuel prices have reached US$171 per barrel and yet we made RM120mil.
“If not for the fuel prices, our first quarter profits would be about RM800mil.”
He expressed confidence that MAS would survive the crisis because “everyone had been through it before”.
He pointed out that at least a dozen airlines in the world had folded up because of the oil crisis and he expected this figure to rise.
He confirmed that MAS fares would increase between 3% and 20% on all routes and that the Everyday Low Fare campaign was a success with MAS netting RM23mil in profits in its first two weeks.
Related Story:
IATA urges govts to help prevent airlines from going bust!
Join Date: Aug 2007
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2 1/2 mths bonus?
As for Captain Wooblah, why are you so angry?
After all your company has announced record profits. As a TRI/TRE you have received 21/2 months bonus (maybe more) plus the 1/2 month paid last year.
You have been alloted a few tens of thousand share options which is going to fatten your purse.
Or perhaps you do not believe the spin that is going on in your company? But then you are in the enviable position of TRI/TRE where you have first cut and the cream and icing and what have you. So why the angst
After all your company has announced record profits. As a TRI/TRE you have received 21/2 months bonus (maybe more) plus the 1/2 month paid last year.
You have been alloted a few tens of thousand share options which is going to fatten your purse.
Or perhaps you do not believe the spin that is going on in your company? But then you are in the enviable position of TRI/TRE where you have first cut and the cream and icing and what have you. So why the angst
Wow! If it's true then congrats MH guys!
Good for you guys to stick it out with Idris Jala.
Join Date: Sep 2000
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MAS Profit
１９９８: MAS suffered losses due to Asia financial crisis. Oil price was USD28 per barrel
２００５: MAS suffered losses due to over staff. Introduced MSS.
２００８: MAS will face the same faith above。This time due to high fuel price and everyday low fare promotions.
So, there's always a reason why MAS not going to make money(profitｓ）
２００５: MAS suffered losses due to over staff. Introduced MSS.
２００８: MAS will face the same faith above。This time due to high fuel price and everyday low fare promotions.
So, there's always a reason why MAS not going to make money(profitｓ）
Last edited by tigerwood; 26th Jun 2008 at 23:42.
Join Date: Jul 2007
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http://http://www.malaysiakini.com/letters/106048
have a read. rather long. not very accurate but close
have a read. rather long. not very accurate but close
Join Date: Jun 2009
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The MSS was surely fishy and todate, no one can fathom the rational behind that scheme. As far as fuel hedging is concerned, it's a very difficult call. Fat bangla is not vindicated despite the fuel at USD40 a barrel in the recent months......it has gone to over USD70 lately.