The Mas Screw up
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Latest - a positive spin
At last, an attempt at putting a positive spin to this con game.
*Industry analysts said too much focus has been given to the “cherry” on top of the deal – the share swap – that people tend to miss the cream or the mutually beneficial partnership that comes with the cherry.*
Bernama*
So many controversial comments have come out of the Malaysia Airlines (MAS) and AirAsia deal that all the noise seems to drown out some of its obvious and yet beneficial aspects.
It all started last August when MAS’ major shareholder Khazanah Nasional Bhd agreed to swap shares with its AirAsia counterpart, Tune Air Sdn Bhd, which saw Khazanah getting a 10% stake in AirAsia and Tune Air a 20.5% equity in MAS.
Khazanah also agreed to acquire a 10% stake in AirAsia X, AirAsia’s long-haul budget affiliate.
A Comprehensive Collaboration Framework (CCF) was also signed that aims to realise cost savings and increase revenue in the areas of aircraft purchasing, engineering, ground support services, cargo services, catering and training among the three airlines.
The CCF would effectively see MAS concentrate on being a full-service premium carrier, AirAsia a regional low-cost airline and AirAsia X for the medium-to-long haul low-cost sector.
It is this CCF that includes the share swap that has attracted considerable negativity from various sectors, including MAS’ employees’ unions.
Collaboration between MAS and AirAsia is good but the question is, do we really need a share swap to achieve this?
Of late, there has been market talk, perhaps some of it justified, that a good collaboration need not necessarily have a share swap given the changing dynamics of the aviation industry that has proven to be detrimental to MAS and part of the reason that has led to massive losses reported in its latest financial year.
Brand identity
Industry analysts said too much focus has been given to the “cherry” on top of the deal – the share swap – that people tend to miss the cream or the mutually beneficial partnership that comes with the cherry.
Collaboration to achieve synergies and economies of scale is quite normal and feasible to any business organisation, either with or without cross-shareholding in the two or more companies.
In the case of MAS and AirAsia, it need not be at the expense of each other or encroaching on each other’s brand identity.
What is currently prevailing between the two companies is healthy competition that keeps each on edge to ensure that they remain relevant aviation entities.
The MAS-AirAsia deal had identified the core areas to achieve savings, synergies and increase revenue and given the huge volume expected from the three airlines in these areas, economies of scale can be achieved, thus reducing operational costs that will eventually benefit the customers or flyers.
For example, in the catering area, MAS is known for its good food served on board while AirAsia’s food needs to be purchased on board. This collaboration can lead to an extension of this section where now its food will be sold on AirAsia planes, resulting in revenue increase.
It should not be viewed as a competitor “eating” up its rival but from the stand that it encourages healthy competition.
Yet another key plus point is in the maintenance, repair and overhaul (MRO) sector where AirAsia planes get serviced by MAS Engineering, which has massive capacity, instead of another facility in Singapore.
Collaboration agreements are alive and kicking in the oil and gas industry, such as between Petronas and Exxon and Shell for the development of several oilfields in the country.
Survival of the fittest
On a larger scale, there is the more dramatic “win-win” deal between giants Shell and Exxon in the Brent oilfields in the North Sea of northern United Kingdom that shows that joint collaboration between the two competing entities can be achieved without sacrificing each other’s identity and business objectives.
Even within the airline industry itself, Air France and KLM started collaborating and ended up owning each other – two sovereign countries (France and the Netherlands) and seemingly competitors have decided that they should share their resources via collaboration.
And what critics and detractors of the MAS-AirAsia deal conveniently seem to ignore is the arrival of the Asean “Open Skies” policy in 2015, just three years down the road, under which all regional restrictions in place by countries in the region will be lifted.
This is an absolute deadline that compels all Asean airlines to beef up their competitiveness where the name of the game is “survival of the fittest”.
Failure to do so might mean airlines will perish or in the case of MAS, be bailed out again.
As a result of the policy, Malaysia would, among other things, have to contend with the elimination of state aid to national airlines, safety net and safeguard mechanisms to ensure sound competition.
So it makes absolute sense for Malaysia’s two biggest airlines to collaborate in areas that are mutually beneficial because the competition landscape is about to get really tough.
Airlines that are not competitive, bogged down with cumbersome work rules, old aircraft, high operation costs as well as facing quite regular union disputes, would be most unlikely to survive.
And this is already happening in Europe and the United States.
So fasten your seat belts. The best way for Malaysia is to pool its aviation resources and get its act together to make its aviation sector competitive and efficient.
*
Bernama*
So many controversial comments have come out of the Malaysia Airlines (MAS) and AirAsia deal that all the noise seems to drown out some of its obvious and yet beneficial aspects.
It all started last August when MAS’ major shareholder Khazanah Nasional Bhd agreed to swap shares with its AirAsia counterpart, Tune Air Sdn Bhd, which saw Khazanah getting a 10% stake in AirAsia and Tune Air a 20.5% equity in MAS.
Khazanah also agreed to acquire a 10% stake in AirAsia X, AirAsia’s long-haul budget affiliate.
A Comprehensive Collaboration Framework (CCF) was also signed that aims to realise cost savings and increase revenue in the areas of aircraft purchasing, engineering, ground support services, cargo services, catering and training among the three airlines.
The CCF would effectively see MAS concentrate on being a full-service premium carrier, AirAsia a regional low-cost airline and AirAsia X for the medium-to-long haul low-cost sector.
It is this CCF that includes the share swap that has attracted considerable negativity from various sectors, including MAS’ employees’ unions.
Collaboration between MAS and AirAsia is good but the question is, do we really need a share swap to achieve this?
Of late, there has been market talk, perhaps some of it justified, that a good collaboration need not necessarily have a share swap given the changing dynamics of the aviation industry that has proven to be detrimental to MAS and part of the reason that has led to massive losses reported in its latest financial year.
Brand identity
Industry analysts said too much focus has been given to the “cherry” on top of the deal – the share swap – that people tend to miss the cream or the mutually beneficial partnership that comes with the cherry.
Collaboration to achieve synergies and economies of scale is quite normal and feasible to any business organisation, either with or without cross-shareholding in the two or more companies.
In the case of MAS and AirAsia, it need not be at the expense of each other or encroaching on each other’s brand identity.
What is currently prevailing between the two companies is healthy competition that keeps each on edge to ensure that they remain relevant aviation entities.
The MAS-AirAsia deal had identified the core areas to achieve savings, synergies and increase revenue and given the huge volume expected from the three airlines in these areas, economies of scale can be achieved, thus reducing operational costs that will eventually benefit the customers or flyers.
For example, in the catering area, MAS is known for its good food served on board while AirAsia’s food needs to be purchased on board. This collaboration can lead to an extension of this section where now its food will be sold on AirAsia planes, resulting in revenue increase.
It should not be viewed as a competitor “eating” up its rival but from the stand that it encourages healthy competition.
Yet another key plus point is in the maintenance, repair and overhaul (MRO) sector where AirAsia planes get serviced by MAS Engineering, which has massive capacity, instead of another facility in Singapore.
Collaboration agreements are alive and kicking in the oil and gas industry, such as between Petronas and Exxon and Shell for the development of several oilfields in the country.
Survival of the fittest
On a larger scale, there is the more dramatic “win-win” deal between giants Shell and Exxon in the Brent oilfields in the North Sea of northern United Kingdom that shows that joint collaboration between the two competing entities can be achieved without sacrificing each other’s identity and business objectives.
Even within the airline industry itself, Air France and KLM started collaborating and ended up owning each other – two sovereign countries (France and the Netherlands) and seemingly competitors have decided that they should share their resources via collaboration.
And what critics and detractors of the MAS-AirAsia deal conveniently seem to ignore is the arrival of the Asean “Open Skies” policy in 2015, just three years down the road, under which all regional restrictions in place by countries in the region will be lifted.
This is an absolute deadline that compels all Asean airlines to beef up their competitiveness where the name of the game is “survival of the fittest”.
Failure to do so might mean airlines will perish or in the case of MAS, be bailed out again.
As a result of the policy, Malaysia would, among other things, have to contend with the elimination of state aid to national airlines, safety net and safeguard mechanisms to ensure sound competition.
So it makes absolute sense for Malaysia’s two biggest airlines to collaborate in areas that are mutually beneficial because the competition landscape is about to get really tough.
Airlines that are not competitive, bogged down with cumbersome work rules, old aircraft, high operation costs as well as facing quite regular union disputes, would be most unlikely to survive.
And this is already happening in Europe and the United States.
So fasten your seat belts. The best way for Malaysia is to pool its aviation resources and get its act together to make its aviation sector competitive and efficient.
*
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a few more spins... this has TF in a Spin...hahah
April 26 (Bernama) -- AirAsia Bhd has dismissed allegations it has opted to stay at the temporary Low-Cost Carrier Terminal (LCCT), and that it will not move to the Kuala Lumpur International Aiport 2 (KLIA2).
Commercial Director Jasmine Lee said the budget carrier had no idea of the new allegation, adding that even the top management was curious of the new claim, to which Malaysia Airports Holdings Bhd (MAHB) responded on Tuesday.
"As AirAsia has no idea of not moving out of the current 'packed' airport, MAHB is the right party to clarify to the sources of the allegations," she told Bernama today.
"We do not know where it (the claims) came from. Even when we asked Tan Sri Tony Fernandes (AirAsia's Chief Executive Officer) to comment on the allegation, he refused by saying MAHB is the right party to clarify as we have never made any recent remarks on KLIA2.
"At the end of the day, if we are not going to move to KLIA2, we do not have alternative airports," she said.
On Tuesday, MAHB Chairman Tan Sri Dr Aris Othman responded to allegations that AirAsia might not be moving to the new LCCT, KLIA2, by saying it was up to the airline to decide whether to operate from KLIA2 or not.
"We are just a service provider. We provide the infrastructure. But the airlines have to decide whether they want to use it or not.
"The present site of the LCCT is meant to be temporary because it is a cargo area. Sooner or later airlines can't operate there because it is congested. The cargo operations need to be expanded. So they have to move," he was quoted as saying.
Aris added that the new LCCT was not only for AirAsia but also for other low-cost carriers.
The KLIA2 is on track to be opened by April next year, with 50 per cent of the development completed to-date.
-- BERNAMA
Commercial Director Jasmine Lee said the budget carrier had no idea of the new allegation, adding that even the top management was curious of the new claim, to which Malaysia Airports Holdings Bhd (MAHB) responded on Tuesday.
"As AirAsia has no idea of not moving out of the current 'packed' airport, MAHB is the right party to clarify to the sources of the allegations," she told Bernama today.
"We do not know where it (the claims) came from. Even when we asked Tan Sri Tony Fernandes (AirAsia's Chief Executive Officer) to comment on the allegation, he refused by saying MAHB is the right party to clarify as we have never made any recent remarks on KLIA2.
"At the end of the day, if we are not going to move to KLIA2, we do not have alternative airports," she said.
On Tuesday, MAHB Chairman Tan Sri Dr Aris Othman responded to allegations that AirAsia might not be moving to the new LCCT, KLIA2, by saying it was up to the airline to decide whether to operate from KLIA2 or not.
"We are just a service provider. We provide the infrastructure. But the airlines have to decide whether they want to use it or not.
"The present site of the LCCT is meant to be temporary because it is a cargo area. Sooner or later airlines can't operate there because it is congested. The cargo operations need to be expanded. So they have to move," he was quoted as saying.
Aris added that the new LCCT was not only for AirAsia but also for other low-cost carriers.
The KLIA2 is on track to be opened by April next year, with 50 per cent of the development completed to-date.
-- BERNAMA
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Spining around......
The decision by Malaysia Airlines (MAS) to cut some of its long-haul routes has impacted the number of passenger using local airports, Malaysia Airport Holdings Bhd (MAHB) said.
Its Chief Financial Officer Faizal Mansor said without the cut, the number of passengers using local airports, could have reached double-digit growth in the first quarter ended March 31, 2012.
"The appetite for travel is still there but without the desired flights, passengers will use alternative airports in the region," he told reporters after announcing MAHB's first quarter financial results here Thursday.
He said in the quarter, the number of passenger using local airports grew by 6.5 per cent to 16 million people from the 15.1 million recorded in the same period last year.
"The higher number of passengers was contributed by an increase in airline operators using local airports as well as the usage of bigger aircraft by them," he added.
Last year, MAS had announced route cuts to at least ten international destinations, as part of efforts to rationalise its network and return to profitability.
Among the destinations dropped by the national airline from Kuala Lumpur, were Rome, Dubai, Bandung, Cape Town, Buenos Aires and Johannesburg.
Meanwhile, on MAHB's financial results, Faizal said the company recorded a pre-tax profit of RM147 million in the first quarter, an increase of 10 per cent from the RM133.6 million in the same period last year.
Revenue rose to RM657.8 million from RM617.8 million previously and attributed to the higher number of passengers using MAHB's 39 airports in Malaysia.
Faizal said revenue generated from the airport operations segment improved by 13.1 per cent to RM478.2 million, while aeronautical revenue improved by 18.1 per cent to RM241.659 million on the back of stronger passenger numbers and implementation of new rates.
Effective Nov 15 last year, the government, has allowed MAHB to implement new passenger services charges and aircraft landing and parking charges.
Asked about the Low Cost Carrier Terminal (LCCT), he said MAHB will continue with its plan to use it as a cargo hub, upon completion of the KLIA 2.
-- BERNAMA
Its Chief Financial Officer Faizal Mansor said without the cut, the number of passengers using local airports, could have reached double-digit growth in the first quarter ended March 31, 2012.
"The appetite for travel is still there but without the desired flights, passengers will use alternative airports in the region," he told reporters after announcing MAHB's first quarter financial results here Thursday.
He said in the quarter, the number of passenger using local airports grew by 6.5 per cent to 16 million people from the 15.1 million recorded in the same period last year.
"The higher number of passengers was contributed by an increase in airline operators using local airports as well as the usage of bigger aircraft by them," he added.
Last year, MAS had announced route cuts to at least ten international destinations, as part of efforts to rationalise its network and return to profitability.
Among the destinations dropped by the national airline from Kuala Lumpur, were Rome, Dubai, Bandung, Cape Town, Buenos Aires and Johannesburg.
Meanwhile, on MAHB's financial results, Faizal said the company recorded a pre-tax profit of RM147 million in the first quarter, an increase of 10 per cent from the RM133.6 million in the same period last year.
Revenue rose to RM657.8 million from RM617.8 million previously and attributed to the higher number of passengers using MAHB's 39 airports in Malaysia.
Faizal said revenue generated from the airport operations segment improved by 13.1 per cent to RM478.2 million, while aeronautical revenue improved by 18.1 per cent to RM241.659 million on the back of stronger passenger numbers and implementation of new rates.
Effective Nov 15 last year, the government, has allowed MAHB to implement new passenger services charges and aircraft landing and parking charges.
Asked about the Low Cost Carrier Terminal (LCCT), he said MAHB will continue with its plan to use it as a cargo hub, upon completion of the KLIA 2.
-- BERNAMA
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memBERSIHkan MAS/AK/MAHB
Looks like we need a BERSIH campaign to get rid of corruption, collusion and cronyism in our airlines/ airport sectors. Up to it Mapa & MASeu? Ready to lead?
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Mas bersih?
Ain't gonna happen! Mapa...no cojones. Maseu...rats of the first order. These two organisations are sorry excuses for hoodwinking the general public, at best functional as drag queens in a sick comedy called malaysia boleh.
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I just found out... there are 19 Captains from Firefly already here doing there standardisation with Lionair. more to come. btw pay is better than locals and benefits well you guess... aleast you get housing.
Another garuda strike might happen if they dont increase local pay for Lion pilots...
the exodus has began... haha.
ANYwAY .... how IS tONY THESE days...
Oops...update...
Firefly Bags Most Promising Brand Of The Year Award
April 25 (Bernama) -- Community airline, Firefly, received the 'Most Promising Brand of the Year' award at Putra Brand Awards (PBA) Gala Night on Tuesday.
Initiated by the Association of Accredited Advertising Agents Malaysia, the PBA measured brands by consumer preference, through a robust consumer research methodology, to determine Malaysia's favourite local and international brands.
Firefly Chief Executive Officer Ignatius Ong said, "Firefly is thrilled to accept this distinguished award.
"It will certainly spur us to greater heights in serving our customers as we continue to be one of the best customer-oriented regional airlines in the industry, offering an excellent flying experience to all our passengers."
Meanwhile, the airline recently introduced its newest service between Kota Baharu and Johor Baharu, which will take off tomorrow.
This will make it the only commercial airline that provides direct access between the East Coast of Peninsular Malaysia and the Southern state of Johor.
"To be honoured with such a prestigious award, right before an event that signifies Firefly's continued growth, is a great accomplishment for the company. A two-in-one celebration," Ong said.
Another garuda strike might happen if they dont increase local pay for Lion pilots...
the exodus has began... haha.
ANYwAY .... how IS tONY THESE days...
Oops...update...
Firefly Bags Most Promising Brand Of The Year Award
April 25 (Bernama) -- Community airline, Firefly, received the 'Most Promising Brand of the Year' award at Putra Brand Awards (PBA) Gala Night on Tuesday.
Initiated by the Association of Accredited Advertising Agents Malaysia, the PBA measured brands by consumer preference, through a robust consumer research methodology, to determine Malaysia's favourite local and international brands.
Firefly Chief Executive Officer Ignatius Ong said, "Firefly is thrilled to accept this distinguished award.
"It will certainly spur us to greater heights in serving our customers as we continue to be one of the best customer-oriented regional airlines in the industry, offering an excellent flying experience to all our passengers."
Meanwhile, the airline recently introduced its newest service between Kota Baharu and Johor Baharu, which will take off tomorrow.
This will make it the only commercial airline that provides direct access between the East Coast of Peninsular Malaysia and the Southern state of Johor.
"To be honoured with such a prestigious award, right before an event that signifies Firefly's continued growth, is a great accomplishment for the company. A two-in-one celebration," Ong said.
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AirAsia and rival Malaysia Airlines cancel share swap
Wednesday, May 2, 2012
KUALA LUMPUR — Shares of budget carrier AirAsia and state-owned Malaysia Airlines will be suspended from trading Wednesday to allow the firms to scrap their controversial share swap deal, a top airline official said.
"Trading of AirAsia shares and Malaysia Airlines shares will be suspended to allow the unwinding of the share swap," the senior official, who was familiar with the plan, told AFP on Tuesday on condition of anonymity.
Trading of shares will resume Thursday, he added.
Since taking office in 2009, Prime Minister Najib Razak has embarked on an ambitious programme to overhaul the economy and public sector, including selling off stakes in troubled state-owned companies.
Last August fast-growing flyer AirAsia agreed to acquire 20.5 percent of Malaysia Airlines under a strategic tie-up aimed at turning around the bleeding national carrier.
The deal would have given Malaysia-based AirAsia's CEO Tony Fernandes -- who took over the no-frills carrier a decade ago -- a key voice in salvaging his struggling rival's fortunes.
Malaysia's state investment arm Khazanah Nasional, which previously held nearly 70 percent of the national carrier, would have taken a 10 percent stake in Tune Air, AirAsia's parent company.
But the deal sparked instant opposition from the powerful 15,000-member Malaysia Airlines union, with fears the alliance would result in the downsizing of their loss-making carrier.
With snap elections expected within the next few months the government, which is expected to face a tough fight from the opposition, is unwilling to risk alienating voters.
The source said both airlines would continue to cooperate to cut rising costs by sharing maintenance, training and bulk purchases of parts and aircraft.
**
Article taken from AFP
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KUALA LUMPUR — Shares of budget carrier AirAsia and state-owned Malaysia Airlines will be suspended from trading Wednesday to allow the firms to scrap their controversial share swap deal, a top airline official said.
"Trading of AirAsia shares and Malaysia Airlines shares will be suspended to allow the unwinding of the share swap," the senior official, who was familiar with the plan, told AFP on Tuesday on condition of anonymity.
Trading of shares will resume Thursday, he added.
Since taking office in 2009, Prime Minister Najib Razak has embarked on an ambitious programme to overhaul the economy and public sector, including selling off stakes in troubled state-owned companies.
Last August fast-growing flyer AirAsia agreed to acquire 20.5 percent of Malaysia Airlines under a strategic tie-up aimed at turning around the bleeding national carrier.
The deal would have given Malaysia-based AirAsia's CEO Tony Fernandes -- who took over the no-frills carrier a decade ago -- a key voice in salvaging his struggling rival's fortunes.
Malaysia's state investment arm Khazanah Nasional, which previously held nearly 70 percent of the national carrier, would have taken a 10 percent stake in Tune Air, AirAsia's parent company.
But the deal sparked instant opposition from the powerful 15,000-member Malaysia Airlines union, with fears the alliance would result in the downsizing of their loss-making carrier.
With snap elections expected within the next few months the government, which is expected to face a tough fight from the opposition, is unwilling to risk alienating voters.
The source said both airlines would continue to cooperate to cut rising costs by sharing maintenance, training and bulk purchases of parts and aircraft.
**
Article taken from AFP
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Well at least Tony got rid of the FireFly jets that were starting to eat into his Malaysian profits, and he can walk away laughing while MAS tries to figure out what they really want to do with their narrow-body fleet now that the 'luxury' regional carrier idea has gone by the wayside (or has it?) like every other plan they have had.
Last edited by Hogger60; 2nd May 2012 at 00:53. Reason: grammar
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Rumour has it, now that Firefly and MAS has purged alot of there Capts to Lion Air and Garuda that now they are short of Capts. Some newly promoted Widebody Guys are being demoted to go back to narrow body to fill the gaps or help with the IOSA findings haaaaaaaaa
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I also heard that these firefly pilots.... are getting paid MORE (3000USD) than local pilots with less time on the NG/ER than Lion pilots
I see Lion local pilots... are been SCREWED slowly and again and again by Lion Management. Before Lion hired Capts from Rishworth for 10000USD with benefits.. whilst local pilots received 6/7000USD with ZEROOOO benefits, even FOs (Rishworth) earn same as Capt.
Locals pilots didnt even raised a voice.. Garuda pilot went on strike. And Lion management blinded Lion pilots with a stupid pay scheme and said it would compensate the pilot and salary would be the same as Rishworth pilot...PLEASSSSE
unless you fly for 130hrs with a nice piece of meth...
GUYS stand for your rights... but I guess its asian culture shove your head in sand and clench your butts and hope it goes away..
I see Lion local pilots... are been SCREWED slowly and again and again by Lion Management. Before Lion hired Capts from Rishworth for 10000USD with benefits.. whilst local pilots received 6/7000USD with ZEROOOO benefits, even FOs (Rishworth) earn same as Capt.
Locals pilots didnt even raised a voice..
Garuda pilot went on strike. And Lion management blinded Lion pilots with a stupid pay scheme and said it would compensate the pilot and salary would be the same as Rishworth pilot...PLEASSSSE unless you fly for 130hrs with a nice piece of meth... GUYS stand for your rights... but I guess its asian culture shove your head in sand and clench your butts and hope it goes away..
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Also I heard that corruption and foul play didn't just happen at the high corperate level; even small things like fleet promotion are subjected to disgusting foul play! I read somewhere that the MAS pilot association chief played dirty to leap frogged over other more deserving pilots for the coveted A380 course. WTF, professional association or union chiefs are suppose to be above this kind of underhand deals and dirty games. It's a complete disgrace if it is true! Won't mapa members insist he resign in disgrace? Are mapa guys just going to take this kind of ****?
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Aiyoyo. malu lah...getting as bad or worse than our Nusantara brothers.
If you look deeper into the mapa ****, you will come away with the conclusion, it is worse than the Indon malaise.
If you look deeper into the mapa ****, you will come away with the conclusion, it is worse than the Indon malaise.
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MAPA is not fit to be associated with pilots.
This damn union threatened the gov they'll vote for Opposition is the share swap deal is not cancelled. The greedy union only think of themselves. When the airline is bleeding every year due to poor management and political interference, a white knight Tony Fernandes is thrown into the dustbin when he could help to turn the airline around.
Yes carry on with your sins. You may get away this life, next life can you guarantee it?
This damn union threatened the gov they'll vote for Opposition is the share swap deal is not cancelled. The greedy union only think of themselves. When the airline is bleeding every year due to poor management and political interference, a white knight Tony Fernandes is thrown into the dustbin when he could help to turn the airline around.
Yes carry on with your sins. You may get away this life, next life can you guarantee it?
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Tony Fernandes the MAS saviour, you must be living in a different world man. Please read Wee Choo Keong
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Ex-Malaysia Airlines Chief Asks Unions to
i guess airasia and Mas really needs each other. Both suffering silently and secretly (AirAsia).. MAs needs a backbone that airasia gives and Airasia.. needs a body to invade.. like a body snatcher. haha. both are very worried about the open skies 2015. because then the really competition for passengers will start.. BUT knowing Tony.. he will ask government to delay malaysia open skies.. saying its need more time to implement something..lah..
King Tony will try his hardest to stay in the throne..
AirAsia, AirAsia X And MAS Collaboration Important, Says Rafidah
May 11
All airlines in the country must be able to face challenges when the Asean open sky policy comes into force in 2015 and therefore, collaboration efforts between AirAsia, AirAsia X and Malaysia Airlines (MAS) is important, says AirAsia X Chairman Tan Sri Rafidah Aziz.
"If airlines do not strengthen now, through what ever way, there will be problems. This is why AirAsia and AirAsia X is willing to continue looking at possible collaboration with MAS," she said.
She emphasised that the collaboration had nothing to do with the share-swap.
"It is about cutting cost so that we can pass the efficiencies to consumers. We have agreed at the board level to sign a memorandum of understanding (MOU) to continue pursuing this collaboration as long as it does not violate any anti-trust law globally and bring benefits to us," she told a press conference after the Malaysian National Co-operative Movement (Angkasa)'s 41st celebration.
Following the reversal of the share swap deal, AirAsia, AirAsia X Sdn Bhd and MAS, have entered into a supplemental collaboration agreement (SA) to explore areas of mutual-need to realise savings and boost efficiencies.
Ex-Malaysia Airlines Chief Asks Unions To Avoid Rash Decisions
Former Malaysia Airlines (MAS) first Managing Director Tan Sri Abdul Aziz Abdul Rahman has appealed to MAS's to workers' unions to refrain from making rash decisions over business plans by its management to turn around the ailing national carrier.
At the same time, he said it was also imperative that cooperation and support from the airline's 20,000 employees be sought and obtained otherwise such plans would fail.
"But I would urge all MAS employees to be more patient and not to take hasty actions that are not within the law," he said in an interview.
MAS's share swap agreement with budget airline AirAsia had to be unwound two weeks ago following strong resistance from MAS employees' unions.
Abdul Aziz said it was more appropriate for employees to give full support to the management for any plans to change its business model as such plans were necessary to keep MAS in business.
"MAS needs a new business model and any new business model certainly requires other changes to take place in the process," he said.
Abdul Aziz, who helmed MAS for over 20 years from the mid-1970's, said the airline's employees must also brace themselves for the Asean Open Skies Policy due to be implemented in 2015 under which all existing restrictions for airlines in the region flying into each other's territory would have to be dismantled.
He said despite the scrapping of the share swap, collaboration between MAS and AirAsia in other areas would result in a win-win situation for both if it was carried out in a rational manner.
"When such collaboration runs smoothly, I am confident MAS will once again rise to become a competitive and profitable airline," he said.
On the larger picture, Abdul Aziz said MAS was set up as a premier full-service airline right from the start till now.
"Suddenly 10 years, another airline emerged to compete with MAS by offering low fares," he said referring to AirAsia.
"This itself created a competition. Basically the market in our region is a low-fare market. So I think, MAS has no choice but to compete. This means MAS can do both premier service and budget airline service and it could succeed in the competition.
"We can learn from AirAsia as well as learning from other budget airlines. MAS has to compete otherwise it will continue to plunge," he said.
May 17 (Bernama)
King Tony will try his hardest to stay in the throne.. AirAsia, AirAsia X And MAS Collaboration Important, Says Rafidah
May 11
All airlines in the country must be able to face challenges when the Asean open sky policy comes into force in 2015 and therefore, collaboration efforts between AirAsia, AirAsia X and Malaysia Airlines (MAS) is important, says AirAsia X Chairman Tan Sri Rafidah Aziz.
"If airlines do not strengthen now, through what ever way, there will be problems. This is why AirAsia and AirAsia X is willing to continue looking at possible collaboration with MAS," she said.
She emphasised that the collaboration had nothing to do with the share-swap.
"It is about cutting cost so that we can pass the efficiencies to consumers. We have agreed at the board level to sign a memorandum of understanding (MOU) to continue pursuing this collaboration as long as it does not violate any anti-trust law globally and bring benefits to us," she told a press conference after the Malaysian National Co-operative Movement (Angkasa)'s 41st celebration.
Following the reversal of the share swap deal, AirAsia, AirAsia X Sdn Bhd and MAS, have entered into a supplemental collaboration agreement (SA) to explore areas of mutual-need to realise savings and boost efficiencies.
Ex-Malaysia Airlines Chief Asks Unions To Avoid Rash Decisions
Former Malaysia Airlines (MAS) first Managing Director Tan Sri Abdul Aziz Abdul Rahman has appealed to MAS's to workers' unions to refrain from making rash decisions over business plans by its management to turn around the ailing national carrier.
At the same time, he said it was also imperative that cooperation and support from the airline's 20,000 employees be sought and obtained otherwise such plans would fail.
"But I would urge all MAS employees to be more patient and not to take hasty actions that are not within the law," he said in an interview.
MAS's share swap agreement with budget airline AirAsia had to be unwound two weeks ago following strong resistance from MAS employees' unions.
Abdul Aziz said it was more appropriate for employees to give full support to the management for any plans to change its business model as such plans were necessary to keep MAS in business.
"MAS needs a new business model and any new business model certainly requires other changes to take place in the process," he said.
Abdul Aziz, who helmed MAS for over 20 years from the mid-1970's, said the airline's employees must also brace themselves for the Asean Open Skies Policy due to be implemented in 2015 under which all existing restrictions for airlines in the region flying into each other's territory would have to be dismantled.
He said despite the scrapping of the share swap, collaboration between MAS and AirAsia in other areas would result in a win-win situation for both if it was carried out in a rational manner.
"When such collaboration runs smoothly, I am confident MAS will once again rise to become a competitive and profitable airline," he said.
On the larger picture, Abdul Aziz said MAS was set up as a premier full-service airline right from the start till now.
"Suddenly 10 years, another airline emerged to compete with MAS by offering low fares," he said referring to AirAsia.
"This itself created a competition. Basically the market in our region is a low-fare market. So I think, MAS has no choice but to compete. This means MAS can do both premier service and budget airline service and it could succeed in the competition.
"We can learn from AirAsia as well as learning from other budget airlines. MAS has to compete otherwise it will continue to plunge," he said.
May 17 (Bernama)
Last edited by jetjockey696; 20th May 2012 at 06:29.
It is embarrassing to known that there are so many stupid people in the aviation industry in this country. It is not about this airline versus that airline right from the start! For F
sake see beyond the smoke screen!!
sake see beyond the smoke screen!!
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Malaysia Airlines mulls US$800m Islamic bond issue
22 May 2012....Loss-making Malaysia Airlines on Tuesday said it plans to raise up to 2.5 billion ringgit (US$800 million) in Islamic bonds as part of an ambitious fundraising plan to fly out of financial difficulties.
In February the flag carrier said it lost 2.52 billion ringgit last year largely due to soaring fuel costs, admitting it was "in crisis".
The new funding plan comes after budget carrier AirAsia and Malaysia Airlines scraped their controversial share swap deal early this month.
Last August fast-growing flyer AirAsia agreed to acquire 20.5 per cent of Malaysia Airlines under a strategic tie-up aimed at turning around the struggling national carrier.
"We anticipate to drawdown the first tranche of 1.0 billion ringgit of the proposed sukuk sometime in June 2012 once all regulatory approvals are cleared, and for the remaining amount of the programme later," it said in a statement.
Malaysia is the world's biggest market for Islamic bonds.
Islamic banking fuses principles of Islamic law and modern banking. Islamic funds are banned from investing in companies associated with tobacco, alcohol or gambling.
The state-owned airline said it had secured a 1.0 billion ringgit bridging loan from a local commercial bank "to ensure our working capital cash balances remain adequate" until the expected drawdown of the first tranche of the proposed sukuk.
Malaysia Airlines also said that it plans to lease six new Airbus A380s and two new Airbus A330 with a total capital value of 5.3 billion ringgit.
"We are indeed hopeful and optimistic that we can secure the proposed elements of our funding plan as soon as possible.
"With the above funding plan, MAS (Malaysia Airlines) is able to proceed with all upcoming aircraft deliveries which is paramount to its recovery plan," it added.
For the quarter ended March 31, Malaysia Airlines reported its fifth consecutive loss amounting to 171.8 million ringgit, compared with a loss of 242.3 million a year earlier.
- AFP/ck
In February the flag carrier said it lost 2.52 billion ringgit last year largely due to soaring fuel costs, admitting it was "in crisis".
The new funding plan comes after budget carrier AirAsia and Malaysia Airlines scraped their controversial share swap deal early this month.
Last August fast-growing flyer AirAsia agreed to acquire 20.5 per cent of Malaysia Airlines under a strategic tie-up aimed at turning around the struggling national carrier.
"We anticipate to drawdown the first tranche of 1.0 billion ringgit of the proposed sukuk sometime in June 2012 once all regulatory approvals are cleared, and for the remaining amount of the programme later," it said in a statement.
Malaysia is the world's biggest market for Islamic bonds.
Islamic banking fuses principles of Islamic law and modern banking. Islamic funds are banned from investing in companies associated with tobacco, alcohol or gambling.
The state-owned airline said it had secured a 1.0 billion ringgit bridging loan from a local commercial bank "to ensure our working capital cash balances remain adequate" until the expected drawdown of the first tranche of the proposed sukuk.
Malaysia Airlines also said that it plans to lease six new Airbus A380s and two new Airbus A330 with a total capital value of 5.3 billion ringgit.
"We are indeed hopeful and optimistic that we can secure the proposed elements of our funding plan as soon as possible.
"With the above funding plan, MAS (Malaysia Airlines) is able to proceed with all upcoming aircraft deliveries which is paramount to its recovery plan," it added.
For the quarter ended March 31, Malaysia Airlines reported its fifth consecutive loss amounting to 171.8 million ringgit, compared with a loss of 242.3 million a year earlier.
- AFP/ck
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Langka, I trust you are aware of this on some blogs :
OK so Nazir Razak will get his money back first. Congrats bro. Banyak cantik. You are the clever one. What was your wife saying the other day about "justice" and stuff like that? By the way, just wondering, does CIMB have any kind of "advisory" role in this RM9.0 billion scheme as well?
OutSyed The Box
First here is The Star :
MAS offers no-pay leave
PETALING JAYA: To cut costs, Malaysia Airlines has offered its workforce up to two years of no-pay leave during which time they can seek employment elsewhere but not at rival companies. Those interested have up to June 30 to apply for the voluntary leave programme
Folks, someone please ask Amburger to organise a thosai sit in at Khazanah Nasional and MAS to exert some pressure on Azman Mokhtar and Danny whatever to take this two year "No Pay" leave option. This is a much better course of action for the country - instead of the Bersih morons making bloody fools of yourselves trying to cover Bapa Rasuah Malaysia's liwatting @$$.
The Khazanah dunggus have done it again. More billion Ringgit losses at MAS. Thats our money.
Now they say they need more money to keep MAS flying. And ..err..guess what? Where do you think they will be getting this money from? (Not much lah - about RM9.0 billion only)? From you and me folks. The taxpayer will be bailing them out again. Read on.
Even the nenek tua in the kampong probably has better business skills than these dunggus. And they claim they even studied at university.
Before we go any further here is a joke : "MAS deputy CEO Mohammed Rashdan Yusof and his team had been working out a financing plan.."
Folks, very shortly, you will all be laughing very loudly too. Trust me. Here be The Star :
OK so Nazir Razak will get his money back first. Congrats bro. Banyak cantik. You are the clever one. What was your wife saying the other day about "justice" and stuff like that? By the way, just wondering, does CIMB have any kind of "advisory" role in this RM9.0 billion scheme as well?
READ MORE HERE
OK so Nazir Razak will get his money back first. Congrats bro. Banyak cantik. You are the clever one. What was your wife saying the other day about "justice" and stuff like that? By the way, just wondering, does CIMB have any kind of "advisory" role in this RM9.0 billion scheme as well?
OutSyed The Box
First here is The Star :
MAS offers no-pay leave
PETALING JAYA: To cut costs, Malaysia Airlines has offered its workforce up to two years of no-pay leave during which time they can seek employment elsewhere but not at rival companies. Those interested have up to June 30 to apply for the voluntary leave programme
Folks, someone please ask Amburger to organise a thosai sit in at Khazanah Nasional and MAS to exert some pressure on Azman Mokhtar and Danny whatever to take this two year "No Pay" leave option. This is a much better course of action for the country - instead of the Bersih morons making bloody fools of yourselves trying to cover Bapa Rasuah Malaysia's liwatting @$$.
The Khazanah dunggus have done it again. More billion Ringgit losses at MAS. Thats our money.
Now they say they need more money to keep MAS flying. And ..err..guess what? Where do you think they will be getting this money from? (Not much lah - about RM9.0 billion only)? From you and me folks. The taxpayer will be bailing them out again. Read on.
Even the nenek tua in the kampong probably has better business skills than these dunggus. And they claim they even studied at university.
Before we go any further here is a joke : "MAS deputy CEO Mohammed Rashdan Yusof and his team had been working out a financing plan.."
Folks, very shortly, you will all be laughing very loudly too. Trust me. Here be The Star :
- another quarter of loss to the tune of RM171mil (March 31, 2012).
- the fifth consecutive quarter of loss
- net loss for the first quarter in 2012 was RM347mil.
- huge RM2.5bil net loss last year
- RM9bil fund raising to enable MAS to continue uninterrupted
- (MAS) surprised the market place with a massive RM9bil fund raising proposal .
- Government will set up a company that will pay for eight aircraft for RM5.3bil .
- RM9bil financing plan is crafted in three pillars
- the issuance of up to a RM2.5bil Islamic sukuk,
- Government setting up a (SPV) to raise RM5.3bil to pay for eight aircraft,
- and capex of RM1.2bil .. funded by a loan facility
- draw down the first tranche of the RM1bil sukuk in June to repay the RM1bil bridging loan it had taken from CIMB Bank.
- second pillar, the Minister of Finance Inc will set up a SPV .. issuing RM5.3bil long-term bonds (guaranteed by the Government)
- The six A380 were initially ordered by Penerbangan Malaysia Bhd but subsequently MAS took over the order. However, under this new financing plan, MAS will assign the rights to the SPV which will own the aircraft and MAS will pay for the leases over the period of the funding.
- MAS said that should its plans fall short, it would fall back on its parent company Khazanah Nasional Bhd to step in to provide financial support'' Rashdan told StarBiz.
OK so Nazir Razak will get his money back first. Congrats bro. Banyak cantik. You are the clever one. What was your wife saying the other day about "justice" and stuff like that? By the way, just wondering, does CIMB have any kind of "advisory" role in this RM9.0 billion scheme as well?
READ MORE HERE