AirAsia MAS together after all.
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AirAsia MAS together after all.
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I posted this " presciently " some weeks ago :
tf is taking it slowly, 20% at a time; way to go.
Time to collect my adviser's fee from tf!
MemBersihkan MAS
Actually not really too bad an idea to get TF to swallow up MAS! Vey hard to turn round a lumbering decaying behemoth, but kill it for a quick death. Then start anew. Many years ago Dr Madhey said that if " we " can't run MAS properly, it's better to get some outside expert to do it. Maybe TF is our local " outside " expert!
Actually not really too bad an idea to get TF to swallow up MAS! Vey hard to turn round a lumbering decaying behemoth, but kill it for a quick death. Then start anew. Many years ago Dr Madhey said that if " we " can't run MAS properly, it's better to get some outside expert to do it. Maybe TF is our local " outside " expert!
Time to collect my adviser's fee from tf!
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Here we go again ...
Corruption in Malaysia?
Consider the original AirAsia swindle! Fly Air Asia? Not Me. The Other AirAsia.Com Website: The Air Asia Sale and today history repeats Fly Air Asia? Not Me. The Other AirAsia.Com Website: Government allows AirAsia and MAS 'merger' .. ...
When will Malaysians say, 'enough'?
After brokering the introduction between Prime Minister Mahathir and Tony Fernandes, political heavyweight Pahamin beat a hasty retreat from official politics. He immediately reemerged as the Non-Executive Chairman of Air Asia - which also happened to be the airline Malaysia's PM sold them for $1.
When will Malaysians say, 'enough'?
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A Sting job in the air?
FROM AROUND THE BLOGS
Monday, 08 August 2011
Hey, how about this viewpoint with an alternative spin :
A Sting job in the air?
FROM AROUND THE BLOGS
Monday, 08 August 2011
Hey, how about this viewpoint with an alternative spin :
A Sting job in the air?
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TF is not going to do anything to improve mas. Mas cannot be saved. It is over staffed( to many deadwood) to many lop sided contracts and too much political interference. Tf is going to take what he wants, routes for Aax, close firefly ( no competition) and prob sell some of his 200 new planes to mas for a profit. After its done, he's going to tell the gov they can have it back! He did this the last time with the domestic rationalisation. When Fax was formed. People in sabah n sarawak had to put up with crap service, plus lots of people lost jobs. At the end he gave it back to mas and owed them 70 million in maintenance debt! And he had the cheek to keep the licence of Fax airlines, to use it to open Air AsiaX. Which should have been pulled away by the gov. Then the gov will buy it back and take it private, using more of taxpayers money.
Only way to save Mas, close it down and reopen it.
Only way to save Mas, close it down and reopen it.
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seems history is very likely to repeat itself and as for saving mas, the airline is beyond saving as they've got their head in the sand far too long. years ago when the first batch of engineers left they reported that it was normal staff turnover then when more engineers left and later followed by the pilots they regarded those who left as traitors but the people who were in charge and bleeding the company dry apparently were the good guys.
instead of trying to find out why people left the management turned around and said the company was ok but the people who left were the problem. and then came vss. not a few made big bucks from that exercise and then were subsequently re-employed or re-engaged as consultants apparently their expertise was required or nobody else could do their jobs. and as usual not a single soul questioned why these guys were given vss in the first place, and so the charade continued.
so if tf were to take over and decided to become a savior or corporate raider and break mas into little pieces, it would be good either way. be it to get rid of all those who are destroying the company from within or give them a wakeup call or good riddance.
whether there is hope for mas is anybody's guess but the staff will prevail because good people shall overcome and shine thru, its the deadwood that will be left by the wayside
instead of trying to find out why people left the management turned around and said the company was ok but the people who left were the problem. and then came vss. not a few made big bucks from that exercise and then were subsequently re-employed or re-engaged as consultants apparently their expertise was required or nobody else could do their jobs. and as usual not a single soul questioned why these guys were given vss in the first place, and so the charade continued.
so if tf were to take over and decided to become a savior or corporate raider and break mas into little pieces, it would be good either way. be it to get rid of all those who are destroying the company from within or give them a wakeup call or good riddance.
whether there is hope for mas is anybody's guess but the staff will prevail because good people shall overcome and shine thru, its the deadwood that will be left by the wayside
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Deja Vu
People in the industry were surprised at the speed of the news of the share swap.
Share swap deal: AirAsia's Fernandes to gain 20% stake in MAS
Same old trick. same modus operandi. It was well planned by the top Cow milkers.
Heard the rumours quite sometime back, only the timing of the execution need to be coincide with events that follows and not to overtaken by the events.MAS will be eventually gobbled up by Jabba the Hutt III . MAS shares will not go up and poised to remain below par.
Grandma RA missed her first class travel as well.
Anything can happen in this BolehLand and if your not happy you can go to BolehBelahLand.
Share swap deal: AirAsia's Fernandes to gain 20% stake in MAS
Same old trick. same modus operandi. It was well planned by the top Cow milkers.
Heard the rumours quite sometime back, only the timing of the execution need to be coincide with events that follows and not to overtaken by the events.MAS will be eventually gobbled up by Jabba the Hutt III . MAS shares will not go up and poised to remain below par.
Grandma RA missed her first class travel as well.
Anything can happen in this BolehLand and if your not happy you can go to BolehBelahLand.
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Dangerous Game
I agreed with you Adilah especially the share swaps business.
Now it seems that Air Asia is too much involved in the political gameplay of the BolehLand. Too many politics and greedy politicians is denominating Air Asia.
MAS has it fair share before and now being dragged further in this turmoil.
Time to let go the share and they will have the same fate as MAS.
BolehBelahLand
Now it seems that Air Asia is too much involved in the political gameplay of the BolehLand. Too many politics and greedy politicians is denominating Air Asia.
MAS has it fair share before and now being dragged further in this turmoil.
Time to let go the share and they will have the same fate as MAS.
BolehBelahLand
Last edited by scandicstar; 8th Aug 2011 at 16:24.
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Really dangerous Game
These are some of the analysis by Anonymous
UNQUOTE :
Anonymous said... Rather than engaging, the glib-talking TF, MAS would be better advised to imitate his model of hub and spokes using Firefly for short haul regional and MAS for long haul international. And of course reining in costs, avoiding big capital outlays or commitments and optimising aircraft utilisation and turn around time by route rationalisation and improved efficiencies, staff attrition and leveraging on technology would not be harmful for growth and profitably prospects in the least. As for TF being a saviour, forget it and here are some reasons why! No, I am not trawling the Christo route but cant help feeling that in Idris Jala and TF we have two Christo wankers with enough self motivation to drag MAS through the mire just to spite Muslim faces....(ROFL). Anyway, about Air asia................
1.As of the 1st Quarter of 2011, Air Asia (AA) debts amounted to 7.7 billion with cash balances amounting to 1.7billion.
2. In August 2010. AA announced a deferment of their proposed aircraft purchases but sometime in June 2011 they reversed their decision and proceeded to place an order for an additional 200 new aircrafts at the Paris Air Show.
3. As of 31 March 2011, based on data from their 1st Quarter report, AA’s capital commitments stood at RM 19 billion. With the above announcement, an additional RM 54 billion will be added as Capital Commitments as implied in this article:
AirAsia inks US$18.5b deal for 200 A320neo aircraft
the proposed CC of roughly 75 billion will be spread over a 15 year period ending 2026. In other words,AA has to ratchet up its earnings to an average of 5 billion per annum to meet its future dues. From 2006 to 2010. AA’s revenue grew by 10 fold from 110 million to roughly 1.1billion, an average growth of RM 200 million per annum.
4. Its cash trove rose 6 fold from approximately 300 million to 1.7 billion but its debts skyrocketed from 1.05 billion in 2006 to 7.7 billion in 2010, an increase of 700%. One gets the ghastly feeling that this is a debt burden that is spiralling out of control.
The schedule for the aircraft delivery is as follows with the Neo being received from 2016 onwards:
2012 = 14
2013 = 13
2014 = 18
2015 = 19
2016 = 19 (4 Neo)
2017 = 14
2018 = 18
2019 = 19
2020 = 20
2021 = 21
2022 = 23
2023 = 24
2024 = 24
2025 = 24
2026 = 9
To compound the issue, the world economy including Asia’s will be into another maelstrom and air travel will invariably be hit:
Airline Earnings Showing First Drop in Eight Quarters, IATA Says
and we probably will have a white elephant in NS soon give or take three years and another one of my dire predictions I made in when commenting on AA in 2009 materialises.
Of course AA can cancel orders but contract penalties will be onerous. In any case, TF is betting on the assumption that being a big borrower will shield him from foreclosure as banks will be leery of bearing heavy losses! bUt then a sizeable chunk of those loans are being held by Malaysian banks and in the worst case scenario, the government and the taxpayer will have to pick the tab to avert a financial meltdown cascading down the AA slope.
This smells like a bailout.
But the real question is for whom.
MAS might not be performing financially but Air Asia debt is increasing. Air Asia is the one in serious need for cash to pay for their 200 airplane purchase and to pay for the aircraft deliveries that have been silently deferred several times.
This is not a swap but more a buying into. The purchase of the 20% stake in Air Asia will cost more than twice the money to buy a similar slice of MAS. A 20% stake in MAS is a bigger voice on the board than a 20% stake in Air Asia.
Rationalization my foot. This can be done without an equity swap.
This stinks.
A disaster in the making. The AA bubble will burst soon and with it Malaysia will go down the drain when the Government will have to pick up the tab due to massive loan default by AA. The merger is not in the interest of the nation. Why can't the Pee Em see that? Maybe he is in it too together with the previous Pee Em?
Dumb deal set by dumber people on a nation of dummies.
the truth is gov now dont have money. some money the gov have, probably go to defense purchase for the nation 'security'.
so instead of keeping share in mas, better stick the dick into airasia, at least gov get couple of mills each year, enough to cover the karipaps and meehon goreng at each departments meetings everyday.
another and 
day.
UNQUOTE :
Anonymous said... Rather than engaging, the glib-talking TF, MAS would be better advised to imitate his model of hub and spokes using Firefly for short haul regional and MAS for long haul international. And of course reining in costs, avoiding big capital outlays or commitments and optimising aircraft utilisation and turn around time by route rationalisation and improved efficiencies, staff attrition and leveraging on technology would not be harmful for growth and profitably prospects in the least. As for TF being a saviour, forget it and here are some reasons why! No, I am not trawling the Christo route but cant help feeling that in Idris Jala and TF we have two Christo wankers with enough self motivation to drag MAS through the mire just to spite Muslim faces....(ROFL). Anyway, about Air asia................
1.As of the 1st Quarter of 2011, Air Asia (AA) debts amounted to 7.7 billion with cash balances amounting to 1.7billion.
2. In August 2010. AA announced a deferment of their proposed aircraft purchases but sometime in June 2011 they reversed their decision and proceeded to place an order for an additional 200 new aircrafts at the Paris Air Show.
3. As of 31 March 2011, based on data from their 1st Quarter report, AA’s capital commitments stood at RM 19 billion. With the above announcement, an additional RM 54 billion will be added as Capital Commitments as implied in this article:
AirAsia inks US$18.5b deal for 200 A320neo aircraft
the proposed CC of roughly 75 billion will be spread over a 15 year period ending 2026. In other words,AA has to ratchet up its earnings to an average of 5 billion per annum to meet its future dues. From 2006 to 2010. AA’s revenue grew by 10 fold from 110 million to roughly 1.1billion, an average growth of RM 200 million per annum.
4. Its cash trove rose 6 fold from approximately 300 million to 1.7 billion but its debts skyrocketed from 1.05 billion in 2006 to 7.7 billion in 2010, an increase of 700%. One gets the ghastly feeling that this is a debt burden that is spiralling out of control.
The schedule for the aircraft delivery is as follows with the Neo being received from 2016 onwards:
2012 = 14
2013 = 13
2014 = 18
2015 = 19
2016 = 19 (4 Neo)
2017 = 14
2018 = 18
2019 = 19
2020 = 20
2021 = 21
2022 = 23
2023 = 24
2024 = 24
2025 = 24
2026 = 9
To compound the issue, the world economy including Asia’s will be into another maelstrom and air travel will invariably be hit:
Airline Earnings Showing First Drop in Eight Quarters, IATA Says
and we probably will have a white elephant in NS soon give or take three years and another one of my dire predictions I made in when commenting on AA in 2009 materialises.
Of course AA can cancel orders but contract penalties will be onerous. In any case, TF is betting on the assumption that being a big borrower will shield him from foreclosure as banks will be leery of bearing heavy losses! bUt then a sizeable chunk of those loans are being held by Malaysian banks and in the worst case scenario, the government and the taxpayer will have to pick the tab to avert a financial meltdown cascading down the AA slope.
This smells like a bailout.
But the real question is for whom.
MAS might not be performing financially but Air Asia debt is increasing. Air Asia is the one in serious need for cash to pay for their 200 airplane purchase and to pay for the aircraft deliveries that have been silently deferred several times.
This is not a swap but more a buying into. The purchase of the 20% stake in Air Asia will cost more than twice the money to buy a similar slice of MAS. A 20% stake in MAS is a bigger voice on the board than a 20% stake in Air Asia.
Rationalization my foot. This can be done without an equity swap.
This stinks.
A disaster in the making. The AA bubble will burst soon and with it Malaysia will go down the drain when the Government will have to pick up the tab due to massive loan default by AA. The merger is not in the interest of the nation. Why can't the Pee Em see that? Maybe he is in it too together with the previous Pee Em?
Dumb deal set by dumber people on a nation of dummies.
the truth is gov now dont have money. some money the gov have, probably go to defense purchase for the nation 'security'.
so instead of keeping share in mas, better stick the dick into airasia, at least gov get couple of mills each year, enough to cover the karipaps and meehon goreng at each departments meetings everyday.
another and day.
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Wow! Suddenly we finally have some response to anything to do with MAS. Well MAS people are still in denial and in lala land. The writing was on the wall ages ago. As usual they sing the government tune, with their blinkers on and just ignore whatever postings on MAS hoping to kill all those threads on MAS silently! When I ask them about stuff about MAS on forums like Pprune and ********** they just brushed it off; preferring their in-house MAPA forum which is no better than the ameno/mca/mic dominated fora.
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Who own what?
excerpt from YB ;
UNQUOTE
YB Senator Datuk Idris Jala: Is this AirAsia/MAS share swap an indirect bailout?
August 7, 2011 by weechookeong
The MAS/AirAsia share swap deal: “AirAsia’s Fernandes to gain 20% stake in national carrier”. The front page sources story in the Star today. “Fernandes declined to comment when asked about the deal.”, so says The Star. This was not what we know of Tony Fernandes, who loves publicity and is well known to jump on anything to say his bit to enhance his image. Read HERE.
This “share swap deal” is a joke of the century. It would appear that now AirAsia, which has been known to have the special “abilities” to owe airport taxes to the tune of more than RM125 million since it inception until 2010, has been made out to look like a white knight for MAS.
THE PERTINENT QUESTION NOW IS: IS AIRASIA BAILING OUT MAS OR MAS HAS BEEN USED AS A VEHICLE TO BAIL OUT AIRASIA? Your views please, YB Senator Datuk Idris Jala, the former CEO of MAS, on this issue.
Please read further. I leave it to you to judge.
During the settlement of the outstanding airport tax debts, the MAB, which is also part of the Khazanah Bhd’s setup, also gave a special discount of some 30 % to AirAsia when MAB should have demanded for full payment with interests because the passengers paid these airport taxes. The discount should be refunded to the passenger and not given to AirAsia. This is common sense but not to the Khazanah Bhd’s officials.
After I was elected to Parliament, I have brought up the issues of airport tax debts owed by AirAsia many times in Parliament. Strangely, prior to my admission to Parliament no opposition Members of Parliament have ever brought up the AirAsia’s airport tax debts and other issues relating to Airasia in Parliament. Was it a case of not wanting to upset the then PM, who was on a honeymoon mode?
These outstanding airport taxes were lawfully due to MAB. Prompt payment of airport taxes will not only benefitted MAB but ultimately Khazanah Bhd. But Khazanah Bhd felt otherwise. It is unheard of in other countries where an airline, budget or otherwise, has been given the special “right” to owe airport taxes for more than 9 years, when all airlines are the collecting agent of such taxes for the authority. I am certain that if any other airlines were to owe airport taxes for a month, its landing right would have been withdrawn by a stroke of a pen. But in the case of AirAsia, it was rewarded with a discount! No wonder Tony Fernandes has been hailed as “the best CEO” and recently conferred with the title of Tan Sri!
AirAsia has been given the special rights to owe airport taxes but to compete with MAS in most, if not all of the profiting matured routes like London, several cities in India, Australia, Japan and etc. It must be noted that MAS has expanded enormous efforts not to mention costs to promote and nurture all the routes to make them profitable. MAS was like a boxer with its hands tied behind and put in the boxing ring to fight.
AirAsia had demanded and given 32 destinations to fly by Ministry of Transport and only to fly 16 profitable routes. Recently AirAsia has reduced its profitable destinations from 16 to 13. It has ceased to fly to the 3 destinations, presumably must be due to non-profitable. I believe that the dropping of the 3 destinations was made without seeking the approval from the Ministry of Transport. What is the Minister of Transport doing about this? Since AirAsia is only interested in flying to the 13 destinations, it is the duty of the Minister of Transport to immediately withdraw the remaining 19 destinations.
Whereas MAS had to fly all routes granted regardless of profitability, as MAS, is our national carrier and the country ambassador, keep our presence in other countries. Whereas AirAsia enjoys the special “rights and privileges” to owe airport taxes at one time and now pick and chose its destinations.
A few years ago, during the honeymoon period under Badawi, Tan Sri Tony Fernandes and his boys (under the outfit known as FAKS) fought so hard and were granted the right to take over the RAS (Rural Air Services) in Sabah and Sarawak from MAS. MAS gladly hand over the RAS with 7 airworthy aircraft and FAKS was handed a handsome subsidy of about RM65 million to carry out the RAS for several but only to cease the operation less than a year due to its inability to provide proper services and too many public complaints from Sarawakians and Sabahans including the East Malaysian politicians.
FAKS conveniently dumped RAS back to MAS and MAS, the whipping boy as usual was forced to resume the national service to provide RAS to our East Malaysians brothers and sisters. When taking over the fleet of aircrafts from FAKS, MAS discovered that all the aircrafts were un-airworthy and one of them was cannibalised for spare parts. MAS, at its own costs, spent RM35 million to put the aircraft in operation to carry out its national service to the nation and FAKS was not asked to be responsible for the sorry state of the aircrafts or pay to MAS the RM35 million expended to put the aircraft in the state of airworthiness. At the same time, FAKS was rewarded with the subsidy of RM65 million for providing the poor RAS for a few months and ceased operation prematurely! This is the “national services” provided the parties concerned.
I believe that this so-called share swap must be more than what has transpired in the Star quoting the main source from Malaysian Insider, the friendly news portal for AirAsia.
PLEASE TAKE NOTE: “AIRASIA HAS PURCHASED 200 AIRBUS A320 AIRCRAFT EARLIER THIS YEAR WITH THE OPTION TO BUY ANOTHER 100, WHILE MAS WAS SET TO MAKE A DECISION ON THE REPLACEMENT AIRCRAFT FOR ITS BOEING 747 AND 777 FLEET, WHICH IS MORE THAN 20 YEARS OLD.” so says The Star.
To date, AirAsia only flies to 13 destinations and MAS easily triple the destinations of AirAsia or more than that. So judge for yourself who needed the aircraft! Perhaps penalty time is up. So panic button has been pressed!
Everyone should now be asking:
Who is or was the agent for Airbus in Malaysia when AirAsia or Datuk Tony Fernandes, as he then was, when signed the agreement to purchase the 200 Airbus aircraft a few years ago?
Why AirAsia had to delay the deliveries of the Airbus when AirAsia was supposed to take delivery of it on a monthly basis?
Now according to the The Star report, Airasia has purchased 200 aircraft and MAS was to make a decision on replacement aircraft. I thought that MAS has already ordered several Boeing A380 and the delivery of them earlier next year. A380 aircraft will be in operation in April 2012.
YB Senator Datuk Idris Jala, the former CEO of MAS, should stand up now and be counted on the issue of this so-called share swab. Lets hope that Datuk Idris Jala will make his position as the head of NKRA meaningful by issuing a statement on this.
Now a share swap and gain a 20% stake in MAS. What a joke! Please wake up Khazanah Bhd. Please take care of our national carrier and other GLCs. Malaysians would not want to see Khazanah Bhd realizing the Malay proverb of “HARAPKAN PAGAR, PAGAR MAKAN PADI!”
I am wondering who is the actual owner of AirAsia!
Before I sign off this article, I would like to point out that Datuk Omar Ong, who was known to be closed to the famous former 4th floor, was recently appointed to the Board of AirAsia. Read HERE, Since then AirAisa has been flying higher and higher. Hopefully it was by chance! Last month, AirAsia got another 5 new destinations including Jeddah, one of the most profitable destinations. It is hoped that it was also by chance that this share swap suddenly emerged.
I shall definitely take this up and do what I can to get to the bottom of this “SHARE SWAP JOKE OF THE CENTURY” in October, when Parliament will be in session.
TAKBOLEHHARAPLAND
UNQUOTE
YB Senator Datuk Idris Jala: Is this AirAsia/MAS share swap an indirect bailout?
August 7, 2011 by weechookeong
The MAS/AirAsia share swap deal: “AirAsia’s Fernandes to gain 20% stake in national carrier”. The front page sources story in the Star today. “Fernandes declined to comment when asked about the deal.”, so says The Star. This was not what we know of Tony Fernandes, who loves publicity and is well known to jump on anything to say his bit to enhance his image. Read HERE.
This “share swap deal” is a joke of the century. It would appear that now AirAsia, which has been known to have the special “abilities” to owe airport taxes to the tune of more than RM125 million since it inception until 2010, has been made out to look like a white knight for MAS.
THE PERTINENT QUESTION NOW IS: IS AIRASIA BAILING OUT MAS OR MAS HAS BEEN USED AS A VEHICLE TO BAIL OUT AIRASIA? Your views please, YB Senator Datuk Idris Jala, the former CEO of MAS, on this issue.
Please read further. I leave it to you to judge.
During the settlement of the outstanding airport tax debts, the MAB, which is also part of the Khazanah Bhd’s setup, also gave a special discount of some 30 % to AirAsia when MAB should have demanded for full payment with interests because the passengers paid these airport taxes. The discount should be refunded to the passenger and not given to AirAsia. This is common sense but not to the Khazanah Bhd’s officials.
After I was elected to Parliament, I have brought up the issues of airport tax debts owed by AirAsia many times in Parliament. Strangely, prior to my admission to Parliament no opposition Members of Parliament have ever brought up the AirAsia’s airport tax debts and other issues relating to Airasia in Parliament. Was it a case of not wanting to upset the then PM, who was on a honeymoon mode?
These outstanding airport taxes were lawfully due to MAB. Prompt payment of airport taxes will not only benefitted MAB but ultimately Khazanah Bhd. But Khazanah Bhd felt otherwise. It is unheard of in other countries where an airline, budget or otherwise, has been given the special “right” to owe airport taxes for more than 9 years, when all airlines are the collecting agent of such taxes for the authority. I am certain that if any other airlines were to owe airport taxes for a month, its landing right would have been withdrawn by a stroke of a pen. But in the case of AirAsia, it was rewarded with a discount! No wonder Tony Fernandes has been hailed as “the best CEO” and recently conferred with the title of Tan Sri!
AirAsia has been given the special rights to owe airport taxes but to compete with MAS in most, if not all of the profiting matured routes like London, several cities in India, Australia, Japan and etc. It must be noted that MAS has expanded enormous efforts not to mention costs to promote and nurture all the routes to make them profitable. MAS was like a boxer with its hands tied behind and put in the boxing ring to fight.
AirAsia had demanded and given 32 destinations to fly by Ministry of Transport and only to fly 16 profitable routes. Recently AirAsia has reduced its profitable destinations from 16 to 13. It has ceased to fly to the 3 destinations, presumably must be due to non-profitable. I believe that the dropping of the 3 destinations was made without seeking the approval from the Ministry of Transport. What is the Minister of Transport doing about this? Since AirAsia is only interested in flying to the 13 destinations, it is the duty of the Minister of Transport to immediately withdraw the remaining 19 destinations.
Whereas MAS had to fly all routes granted regardless of profitability, as MAS, is our national carrier and the country ambassador, keep our presence in other countries. Whereas AirAsia enjoys the special “rights and privileges” to owe airport taxes at one time and now pick and chose its destinations.
A few years ago, during the honeymoon period under Badawi, Tan Sri Tony Fernandes and his boys (under the outfit known as FAKS) fought so hard and were granted the right to take over the RAS (Rural Air Services) in Sabah and Sarawak from MAS. MAS gladly hand over the RAS with 7 airworthy aircraft and FAKS was handed a handsome subsidy of about RM65 million to carry out the RAS for several but only to cease the operation less than a year due to its inability to provide proper services and too many public complaints from Sarawakians and Sabahans including the East Malaysian politicians.
FAKS conveniently dumped RAS back to MAS and MAS, the whipping boy as usual was forced to resume the national service to provide RAS to our East Malaysians brothers and sisters. When taking over the fleet of aircrafts from FAKS, MAS discovered that all the aircrafts were un-airworthy and one of them was cannibalised for spare parts. MAS, at its own costs, spent RM35 million to put the aircraft in operation to carry out its national service to the nation and FAKS was not asked to be responsible for the sorry state of the aircrafts or pay to MAS the RM35 million expended to put the aircraft in the state of airworthiness. At the same time, FAKS was rewarded with the subsidy of RM65 million for providing the poor RAS for a few months and ceased operation prematurely! This is the “national services” provided the parties concerned.
I believe that this so-called share swap must be more than what has transpired in the Star quoting the main source from Malaysian Insider, the friendly news portal for AirAsia.
PLEASE TAKE NOTE: “AIRASIA HAS PURCHASED 200 AIRBUS A320 AIRCRAFT EARLIER THIS YEAR WITH THE OPTION TO BUY ANOTHER 100, WHILE MAS WAS SET TO MAKE A DECISION ON THE REPLACEMENT AIRCRAFT FOR ITS BOEING 747 AND 777 FLEET, WHICH IS MORE THAN 20 YEARS OLD.” so says The Star.
To date, AirAsia only flies to 13 destinations and MAS easily triple the destinations of AirAsia or more than that. So judge for yourself who needed the aircraft! Perhaps penalty time is up. So panic button has been pressed!
Everyone should now be asking:
Who is or was the agent for Airbus in Malaysia when AirAsia or Datuk Tony Fernandes, as he then was, when signed the agreement to purchase the 200 Airbus aircraft a few years ago?
Why AirAsia had to delay the deliveries of the Airbus when AirAsia was supposed to take delivery of it on a monthly basis?
Now according to the The Star report, Airasia has purchased 200 aircraft and MAS was to make a decision on replacement aircraft. I thought that MAS has already ordered several Boeing A380 and the delivery of them earlier next year. A380 aircraft will be in operation in April 2012.
YB Senator Datuk Idris Jala, the former CEO of MAS, should stand up now and be counted on the issue of this so-called share swab. Lets hope that Datuk Idris Jala will make his position as the head of NKRA meaningful by issuing a statement on this.
Now a share swap and gain a 20% stake in MAS. What a joke! Please wake up Khazanah Bhd. Please take care of our national carrier and other GLCs. Malaysians would not want to see Khazanah Bhd realizing the Malay proverb of “HARAPKAN PAGAR, PAGAR MAKAN PADI!”
I am wondering who is the actual owner of AirAsia!
Before I sign off this article, I would like to point out that Datuk Omar Ong, who was known to be closed to the famous former 4th floor, was recently appointed to the Board of AirAsia. Read HERE, Since then AirAisa has been flying higher and higher. Hopefully it was by chance! Last month, AirAsia got another 5 new destinations including Jeddah, one of the most profitable destinations. It is hoped that it was also by chance that this share swap suddenly emerged.
I shall definitely take this up and do what I can to get to the bottom of this “SHARE SWAP JOKE OF THE CENTURY” in October, when Parliament will be in session.
TAKBOLEHHARAPLAND
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Air Asia X now have 2 ex Mapa presidents who must be giving tf " good " advice. Remember the pariah latuk g string has got " tentacles " in Mapa and we can all surmise that the 2 latuks tf and pariah singh are gonna do MAS in especially with info gathered through Mapa. Conspiracy theory? Just watch and see.
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Ah, looks like all harta melayu kembali nusantara. Air Asia, if it does help strip off MAS assets, will be rich pickings for our bomoh businessmen who help protect Malaysian politicians and tycoons with our native ILMU.
Coming back to the story about the 2 exMapa presidents in Air Asia X...both were allegedly dismissed from previous companies for sexual harassment. Are those allegations true?
Coming back to the story about the 2 exMapa presidents in Air Asia X...both were allegedly dismissed from previous companies for sexual harassment. Are those allegations true?
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Well I did mention this years ago. It took longer than I expected because the thieves in the den covered their tracks with taxpayers money brilliantly. But alas Pandoras box is surely but slowly opening. It will be very interesting to see how the bailout pans out.
Wooblah.
Wooblah.
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Latest developments :
Azmil out of MAS in share swap with AirAsia
NEWS/COMMENTARIES
Tuesday, 09 August 2011
(The Malaysian Insider) - MAS managing director Tengku Datuk Azmil Zaharudin lost his job today after the airline’s shareholders finalised a share swap with Asia’s largest low cost carrier, AirAsia.
Also Air Asia and MAS shares trading temporarily suspended. Getting curiouser and curiouser OR BECOMING BLATANT OBVIOUS THAT WE ARE ONCE AGAIN ROBBED KANGKANG!
Azmil out of MAS in share swap with AirAsia
NEWS/COMMENTARIES
Tuesday, 09 August 2011
(The Malaysian Insider) - MAS managing director Tengku Datuk Azmil Zaharudin lost his job today after the airline’s shareholders finalised a share swap with Asia’s largest low cost carrier, AirAsia.
Also Air Asia and MAS shares trading temporarily suspended. Getting curiouser and curiouser OR BECOMING BLATANT OBVIOUS THAT WE ARE ONCE AGAIN ROBBED KANGKANG!
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Some months ago over teh halia and the usual goodies this possibility was brought up with some seemingly level headed MAS pilots...well total denial of this can ever happen, so confident were they and they are 100% solid behind their Mapa gods and MAS bomohs. We the traitors are really pengkhianats daring to bring up such ludicruous conjectures. As someone alluded to a few times, MAS is run exactly like the corrupt BN gomen. All the fellas sitting in management, MASEU, Mapa, Air Asia, kementerian pengangkutan, MAB, khazanah, etc are all corrupt to the core.