Air Macau-money trouble

[Just_Du_It]

Quotes from June's "Message from CEO":

"Amidst the misery of unprecedented soaring fuel price, carriers all over the world are suffering from different degree of heavy losses indeed. As to overcome this global threat, all of them are vigorously rolling out array of measures on accelerating income in parallel with cost retrenchment for the time being. Some of them even kicked off the drastic schemes on staff layoff, salary reduction, fading out/grounding the fleet … etc. For the sake of NX survival, we have also rolled out all possible measures on accelerating income and cost retrenchment; nevertheless the management would never sacrifice the prevailing staff salary by all means.

Meanwhile, the management is also trying every attempt to pursue the supports from different channels, in order to eliminate all unnecessary cost burdens on NX shoulders. As for internal, I would urge all of staff members to work with cautious manner on tackling such severe challenge in aviation history through extending your unremitting support towards the corporate movement on accelerating revenue + cost management measures without sacrificing the services quality and safety."

So what have we been doing?


Does anyone else read this and think this is the CEO saying the end is coming very soon?

See you in the Middle East.....

[BUSTRASH]

Its sounds to me hes gonna layoffb some staff from Taipei and other stations.

[Just_Du_It]

Front cover of today's Macau Daily Times says Air Macau lost MOP100m in 4 months. Based on this, looks like something has to happen before the end of August.

[tonylollo]

The PORTUGUESE Inspector from AACM is an ex- Air Macau pilot
( twice) and is a man with a mission against Air Macau

[tonylollo]

Actually I find it rather strange that a Portuguese newspaper the Daily Times seems hell bent on destroying air macau........ Did anyone see their article on the 5th July. Rather strange that they know so much but dont seem to know what aircraft NX flies......... Portuguese negative propoganda in my view, probably because of the corrupt displaced mindless ex Portuguese management , acting in true style Bet there will be a boat for sale soon get the gist???

[B747-800]

Air Macau on the brink of collapse?

On Wednesday the Macau Daily Times reported the chairman of the board of directors of Air Macau, Zhao Xiaohang, sent out a letter to the company's shareholders announcing that “since April 30, 2008 the net worth of the company had fallen below half of the value of the company's capital,” leaving the company in the situation described in article 206 of the Macau Commercial Code.
According to the article, if a company looses up to half of its capital, the body must proposed that the company be dissolved or the capital reduced – unless shareholders pay amounts in money that replenish the assets to a measure equal to the value of the company capital.
The airline has lost up to 100 million patacas in the months of May and June alone, and another 100 million in the first quarter of this year, totalling half of the company's capital.

[tonylollo]

Crap newspaper crap article....... fed piece by piece to the newspaper by the ex lets guess who, could it be the former management of NX sooooooo obvious and with lots of help by another insider Portuguese, yup we know who you are....... ... big brother is watching you You think the previous managment could do better. I think not. Partys over guys, and if you have not noticed there are some mega big buildings here crawling with Yanks, Brits Aussies. Time to go home you did nothing for the little enclave and they will be glad to see the back of you...... Well not all of you of course but those that cant let go..... Oh and take the Daily Times with you perhaps they can do some plane spotting and watch B777s taking off, cos thats what they seem to think NX fly, ( refer article 5th July)

[tonylollo]

Bored As, you are obviously pretty bored as you are posting this here there and everywhere.......... which part do you fit into are you scared of loosing you job or are you one of those actively trying to see the demise of Air Macau...... we get the message

[Just_Du_It]

Conspiracy

I hear MAX staff all fired. True or false? Is the old VPFO trying to get revenge?

[B747-800]

MAX never ever operated. There leased A320 aircraft have been returned end of March and are now operating with another airline. MAX was a dead born airline.

[slightly_amused]

China support of Air Macau not confirmed Wednesday, 16 July 2008 News from China indicates that David Fei, the company's CEO, did not get the full support Air Macau’s Sunday statement made believe.
The online edition of Air Transport World, a monthly magazine specialising in aviation, yesterday quoted Air China’s Board Secretary Huang Bin acknowledging “Air Macau's request for help”.
Huang said “CA will determine a solution with other NX [Air Macau] stakeholders, including TAP Portugal's SEAP investment fund (15 percent), casino company Sociedade de Turismo e Diversoes de Macau (14 percent), the Macau government and EVA Air. CA holds a 51 percent stake”.
The company statement said Air Macau has reached a strategic cooperation agreement with CA and that aid will be extended soon.
Air China had singed several cooperative agreements with Air Macau, the announcement said, and it will start special support to its subsidiary in the near future. But insiders pointed out that the assets of Air Macau were less than 5 percent of Air China's, according to Trading Markets.
The airline has not contributed much to the parent company's profits in these past years, Trading Markets added.
According to other media reports, Air China is believed to have sent letters to other shareholders calling for a meeting to address the financial stringency caused by high fuel costs. Air China is expected to buy out shareholders who are reluctant to commit further funds to the troubled carrier.

[B747-800]

Macau Daily Times - China support of Air Macau not confirmed

China support of Air Macau not confirmed

News from China indicates that David Fei, the company's CEO, did not get the full support Air Macau’s Sunday statement made believe.
The online edition of Air Transport World, a monthly magazine specialising in aviation, yesterday quoted Air China’s Board Secretary Huang Bin acknowledging “Air Macau's request for help”.
Huang said “CA will determine a solution with other NX [Air Macau] stakeholders, including TAP Portugal's SEAP investment fund (15 percent), casino company Sociedade de Turismo e Diversoes de Macau (14 percent), the Macau government and EVA Air. CA holds a 51 percent stake”.
The company statement said Air Macau has reached a strategic cooperation agreement with CA and that aid will be extended soon.
Air China had singed several cooperative agreements with Air Macau, the announcement said, and it will start special support to its subsidiary in the near future. But insiders pointed out that the assets of Air Macau were less than 5 percent of Air China's, according to Trading Markets.
The airline has not contributed much to the parent company's profits in these past years, Trading Markets added.
According to other media reports, Air China is believed to have sent letters to other shareholders calling for a meeting to address the financial stringency caused by high fuel costs. Air China is expected to buy out shareholders who are reluctant to commit further funds to the troubled carrier.

and

Air Macau Lost 200mn Macao Dollars in H1

Air Macau Lost 200mn Macao Dollars in H1


MACAO, Jul 15, 2008 (SinoCast via COMTEX) -- AICAF | Quote | Chart | News | PowerRating -- Macao-based airways Air Macau Co., Ltd. suffered a loss of about 100 million Macao dollars in May and June 2008, due to surging oil prices, citing its announcement to its shareholders.

The loss reached more than 200 million Macao dollars in the first half of the year, compared to its registered capital of 400 million Macao dollars. And presently, the company is looking for injections from these shareholders like Air China Ltd. (SHSE: 601111, SEHK: 0753, PINK: AICAF and LON: AIRC), the controller.
If a company's loss, citing a local law, exceeds 50% of its registered capital, it can choose to enlarge or cut its capital, or announce bankruptcy.
Air China had singed several cooperative agreements with Air Macau, the announcement said, and it will start special support to its subsidiary in the near future. And insiders said that the assets of Air Macau was less than 5% of Air China's, and the Macao company did not contribute much to the parent company's profit these years.

[B747-800]

Aviation authority receives report from Air Macau

Macau Daily Times - Aviation authority receives report from Air Macau

Aviation authority receives report from Air Macau The Macau Civil Aviation Authority (AACM) have received a report from Air Macau into the incident that got Brazilian Captain Neto suspended from flying for refusing to fly with a safety inspector from the authoriy.
A spokesperson from the authority yesterday told the Macau Daily Times that on July 3 AACM had sent a letter to Captain Neto “attaching the relevant occurrence report and requested him to either come to our [AACM] office for an interview or write to us [the authority] within the next 15 days from the date of the letter to proceed with the inquiry.”
As reported earlier in the month, on July 1 the airline’s captain refused to fly with inspector Carlos Otao from AACM and as such had been suspended from flying while the authority conducts an inquiry into the matter.
A group of pilots on Sunday last week also held a dinner in solidarity for Captain Neto and also threatened to stop flying altogether should the civil aviation authority refuse to allow the Brazilian captain to resume his duties. However, after the dinner, pilots said they would not stop flying.
Since the SAR's flag carrier handed a report on the incident within the time frame allocated by the aviation authority, AACM is set to speak with witnesses present on the day in question, before completing their final report into the matter, the spokesperson added.

[tonylollo]

Yes B747 and you point is????? Check the ICAO and JAA rulings on this?
The Captain is within his rights. FULL STOP.... and this is old news, and stop quoting crap from crap newspapers on this thread, has anyone got anything correct to say other than tabloid rubbish

[slightly_amused]

I would have assumed that Macau ANR's would have applied.

Part XIII, General Paragraph 78
Obstruction of Person
A person shall not wilfully obstruct or impede any entity acting in the excercise of his/her powers or performance of his/her duties under this Regulation.

Part XIII, General, Paragraph 79
Enforcement of Directions
Any person who fails to comply with any direction given to him/her by the Civil Aviation Authority or by any authorised entity under any provision of this Regulation or any regulations made or requirements notified there under shall be deemed for the purposes of this Regulation to have contravened that provision.

[alvega]

Wrong assumption

slightly_amused, if you weren't so biased in pushing on with your agenda (we all know where it's coming from), you might also want to look at the other side, but this exercise would weaken the purpose of your standing on this issue, wouldn't it? Notwithstanding, here is something else to clarify your narrow mind:

AIR MACAU FLIGHT OPERATIONS MANUAL (you probably know this is an official document approved by AACM):

"Admission to the flight deck is under the authority of the Commander.

In the interest of security, no person, other than the flight crew members assigned to a flight, should be admitted to, or carried in, the flight deck unless this person is a company staff, or a representative of the authority responsible for certification, licensing or inspection, or if this person is required for performance of his official duties.

The final decision regarding the admission to the flight deck of any person mentioned above rests with the Commander who shall request identification of such persons before granting such admission.

Persons duly authorised by the Authority, entitled to enter and remain on the flight deck in order to be able to perform their duties, shall only be denied access by the Commander if he deems this necessary in the interest of safety."

"The person shall be instructed to:
- Not distract and / or interfere with the operation of the flight
- Not touch any controls, switches, instruments, circuit breakers
- Not smoke
- Not talk unless invited to do so by the Commander"

Please feel free to keep amusing us with your posts.

[November1126]

False. MAX is still here but most of staffs were left and went to Air Macau as a help hand. Which means MAX is here but the office is empty.

[hailer]

What has MAX got to do with it?

I presume the reference to MAX is a belated response to posts from Just - Du - It and B747 - 800?

If MAX is not dead it belies belief. The MAX business model was based on a concession from NX (supposedly a result of Government arm-twisting) that would have seen MAX doing the very things that NX has to do to save itself. Why NX would be the majority share holder in an attempt to steal their life boats whilst they rearranged the deck chairs on the Titanic makes no sense. MAX was always a smoke screen politically aimed at destroying the TAP will to survive in Macau. The MAX Chairman (and NX director) has form (in HKG) in this respect. NX themselves pulled the plug on MAX.

The NX business model is now bust in addition to having a totally inept management. The Taiwan - mainland market is about to suffer rigor mortis. The chances that the residue of MAX management is gainfully employed in NX is very unlikely seeing they had a little less than abiding love for each other.

Notwithstanding the usual entertaining yet self centered pprune comment on this thread, NX is a hopeless case - government support; preferential treatment; a concession on any routes it wants; a regulatory authority in its pocket; resident in the territory with the highest GDP in Asia and unable to make a go of it?

NX needs competent shareholders, a strategic direction and new management + investment to survive - the rather tasteless racist and xenophobic comment on this thread is sadly irrelevant. That being said it would be lovely if they could survive for the sake of the few good men.

[armchairpilot94116]

Air Macau and Cathay being majority Chinese owned airlines now. There IS the chance that they will be allowed to fly cross strait flights in the next couple of years. Provided Air Macau lasts that long. Cathay should be fine, even with a severe reduction in its Taiwan-HK-China business??

Far Eastern Airlines of Taiwan didnt last long enough to enjoy Cross Straits flights going on now.

Since the Chinese govt owns a large part of NX and CX. If these airlines were suffering because of the direct Taiwan / China flights, its conceivable that the Chinese govt will ask the Taiwan side to allow NX and CX to participate in cross strait flights. And since CX and NX already have an established presence in Taiwan (especially CX) there is reason to believe that the TAiwan side will be willing to accomodate.

The US is also pressuring Taiwan to allow American airlines to continue on to China for US to Taiwan flights. I think this will be accomodated within five years.

[hailer]

Without being offensive I must point out that anyone who believes there is any comparison between NX and CX has been on the funny mushrooms!