daily menu » rate the banner | guess the city | one on oneforums map | privacy policy | DMCA | news magazine | posting guidelines

Go Back   SkyscraperCity > Infrastructure and Mobility Forums > Airports and Aviation

Airports and Aviation » Airports | Photos and Videos



Global Announcement

As a general reminder, please respect others and respect copyrights. Go here to familiarize yourself with our posting policy.


Reply

 
Thread Tools
Old July 28th, 2009, 12:50 PM   #1741
nazri
BANNED
 
Join Date: Jul 2009
Posts: 361
Likes (Received): 1

A stewardess of Malaysia Airlines, Ariana Joedo shows the Asean Pass, offering 4 flights within Asean for USD229 during the launching today.
Kuala Lumpur, 28 July 2009
Photos from http://www.sun2surf.com/

[IMG]http://www.**************/show/2009/07/28/01/47/4616774_480x286.jpg[/IMG]

[IMG]http://www.**************/show/2009/07/28/01/48/4616776_480x301.jpg[/IMG]
nazri no está en línea   Reply With Quote

Sponsored Links
Old July 28th, 2009, 01:39 PM   #1742
nazri
BANNED
 
Join Date: Jul 2009
Posts: 361
Likes (Received): 1

We Fly (Malaysia Airlines Theme - Original Version)

nazri no está en línea   Reply With Quote
Old July 28th, 2009, 02:50 PM   #1743
nazri
BANNED
 
Join Date: Jul 2009
Posts: 361
Likes (Received): 1

From previous page!

nazri no está en línea   Reply With Quote
Old July 28th, 2009, 10:28 PM   #1744
killerk
Registered User
 
Join Date: Mar 2007
Location: Houston, Texas
Posts: 3,516
Likes (Received): 1116

Quote:
Originally Posted by nazri View Post
AirAsia X fails to get Govt nod for flights to Sydney and Seoul
Tuesday July 28, 2009
By B.K. SIDHU



Azran Osman-Rani ... ‘It is a high-profile
issue and needs a lot of justification'.


SEPANG: AirAsia X’s expansion into Sydney and Seoul will be delayed as it has failed to get the nod from the Malaysian Government to fly to the two cities, forcing the long haul low-cost carrier to formulate a back-up plan to utilise some of the new aircraft that will be delivered later this year.

“We had asked for rights to fly to Sydney and Seoul and the Government decided to defer granting us the approval. They want (AirAsia) to settle (its) dues with Malaysia Airports Holdings Bhd (MAHB),’’ AirAsia X chief executive officer Azran Osman-Rani told StarBiz in an interview recently.

“It is a high profile issue and needs a lot of justification but we are AirAsia X and not the ones that owe MAHB money for airport services. Every invoice that we receive is paid within 30 days.”

“It is unfortunate that we are brought into the AirAsia issue but we have written and explained that our accounts are all current,’’ he said.

About RM65mill payment due to MAHB from AirAsia is in dispute.

Azran reiterated that “the dispute is between the two (AirAsia and MAHB) but delaying us from flying into these two destinations will not help travellers who have limited choices and we lose opportunities of the multiplier impact (that) tourism has.”

“We know the Koreans are keen to have us and both the airports – Sydney and Seoul – welcome us,’’ he said.

The delay may be seen as a setback in its expansion plans as with so much capacity coming onstream, AirAsia X has to work fast to secure rights for other markets so that its planes are not grounded for too long.

“We believe the two markets are big enough for more players. MAHB has been trying hard to get Qantas and Jetstar back and here we are waiting to fly to Sydney,’’ Azran added.

Whether it is AirAsia or AirAsia X, there are common shareholders in both companies and allowing AirAsia into newer markets will certainly heat up competition and drive fares down as seen from its flights to Gold Coast, Melbourne, Perth and London.

“Fundamentally, we do not fly to a destination and take passengers away. We create a new market which even other players can tap into,’’ the AirAsia X chief said.

AirAsia X is set to take delivery of three A330 this year – one each in September, November and December.

It needs to utilise these aircraft and Azran said he was now busy trying to come up with a plan so that the aircraft would be fully utilised since the Sydney and Seoul routes would be delayed.

“We will look at the near term first since we will take delivery of an aircraft in September. We may add capacity on our existing routes to Gold Coast, Hangzhou and Taipei. The new destinations that we are considering include Chengdu. We are hoping to get the time slots soon and the Transport Minisntry has been really helpful in all this,’’ he said.

AirAsia X might fly into either Sharjah or Abu Dhabi sometime this year as part of its plan to venture into the Middle East, he said, adding that Baharin was also on the cards but Teheran would be delayed.

India is a market that AirAsia X wants to look at in 2010 but Amritsar may come earlier if it manages to get the rights, but via Bangkok.

As for the US, the airline liked New York, San Francisco and Los Angeles but formal submissions had not been made, although the process had begun, Azran said, adding that AirAsia X hoped to cover the US by next year.
Flying to Sharjah would mean direct competition with Dubai airport less than 20 kms away......Abu Dhabi however does not have a Malaysian airline flying there!!

Amritsar to KL via Bangkok makes sense.....given that there are no far east flights from there!! (I think SIA stopped flying to Amritsar recently)
killerk está en línea ahora   Reply With Quote
Old July 29th, 2009, 08:55 AM   #1745
nazri
BANNED
 
Join Date: Jul 2009
Posts: 361
Likes (Received): 1

AirAsia X to set up virtual hub in Middle East
By BK Sidhu The Star Biz
29 July 2009

KUALA LUMPUR: AirAsia X Sdn Bhd, a long-haul budget airline and related company to AirAsia Bhd, is looking to set up its first ever virtual hub in the Middle East next year.

AirAsia X chief executive officer Azran Osman-Rani told reporters Wednesday that this hub would serve the region and beyond and was part of the airline’s expansion strategy.

He said the hub would be used for flights from Malaysia to Middle Eastern destinations as well as from the Middle East to Europe.
nazri no está en línea   Reply With Quote
Old July 29th, 2009, 08:55 AM   #1746
nazri
BANNED
 
Join Date: Jul 2009
Posts: 361
Likes (Received): 1

AirAsia X to name new flight destinations
By B.K. SIDHU The Star Biz
29 July 2009

PETALING JAYA: AirAsia X will today announce some new destinations it will be flying to in the coming months in its quest to expand.

“We are not going to slow down just because we have not get approval yet to fly into Sydney and Seoul. We will add more flights and services and continue with our expansion,’’ AirAsia X chief executive officer Azran Osman-Rani told StarBiz yesterday.

Several weeks ago, AirAsia X had asked for rights from the Government to fly into Sydney and Seoul as these markets offered good growth potential for the carrier.

However, in an interview with StarBiz which was published yesterday, Azran said “the Government decided to defer granting us the approval. They want (AirAsia) to settle (its) dues with Malaysia Airports Holdings Bhd (MAHB).’’

“It is unfortunate that we are brought into the AirAsia issue but we have written (to the Government) and explained that our accounts are all current,’’ he had said. AirAsia owes MAHB RM65mil in airport service charges. AirAsia and AirAsia X have common shareholders.

Maybank Investment Bank senior analyst Khair Mirza said it was unusual for the Government to withhold approval for the reasons quoted.

“It suggests that there may be more issues than those quoted and there could be reciprocation issues as well,’’ Khair said.

Another analyst said AirAsia X should just go ahead with its expansion into other markets as there were many more destinations that offered equally exciting opportunities as Seoul and Sydney.

The likely markets that AirAsia X will fly to with the three new aircraft it will be taking delivery of this year are speculated to be the Middle East, particularly Abu Dhabi, and China. It is likely to increase frequency on its flights to Melbourne, Perth, Gold Coast, Taipei and Hangzhou.
nazri no está en línea   Reply With Quote
Old July 29th, 2009, 08:56 AM   #1747
nazri
BANNED
 
Join Date: Jul 2009
Posts: 361
Likes (Received): 1

AirAsia to boost revenue via Tune Talk partnership
The Star Biz
29 July 2009

PETALING JAYA: AirAsia Bhd yesterday signed a cooperation agreement with Tune Talk Sdn Bhd aimed at generating extra revenue and further boosting the AirAsia brand.

Incorporated on Jan 13, 2006, Tune Talk is principally involved in providing telecommunication services and other related services.

The company is 35.75%-owned by Tune Ventures Sdn Bhd, in which AirAsia group chief executive officer Datuk Seri Tony Fernandes and AirAsia deputy CEO Datuk Kamarudin Meranun are substantial shareholders.

In a filing with Bursa Malaysia, AirAsia said the rationale for the agreement was to generate extra revenue through sales of Tune Talk SIM cards and Top Up Voucher.

It was also to generate additional online ticket sales via distribution of e-gift vouchers by Tune Talk through its loyalty programmes as well as to enhance and further boost AirAsia’s branding through various advertising platforms made available by Tune Talk free of charge.

AirAsia said under the agreement, it would become the launch partner of Tune Talk and purchase 200,000 Tune Talk SIM cards (worth RM860,000) that would bear AirAsia’s and Tune Talk’s branding.

“The downside financial risks associated with the agreement are expected to be very limited because the company does not need to make extra investment to market or sell the Tune Talk SIM card or Top Up Voucher,” it said.

The products would be sold on board all AirAsia’s flights, it added.

AirAsia said it did not require the approval of its shareholders or any authorities to enter into the agreement with Tune Talk.

It also said the agreement was not expected to have a material effect on its consolidated net assets and consolidated earnings for the current year ending Dec 31.
nazri no está en línea   Reply With Quote
Old July 29th, 2009, 09:31 AM   #1748
nazri
BANNED
 
Join Date: Jul 2009
Posts: 361
Likes (Received): 1

AirAsia, MAHB may settle dues row soon
Wednesday July 29 2009

KUALA LUMPUR, July 29 — A three-year dispute between budget carrier Air-Asia and Malaysian Airport Holdings Bhd (MAHB) over unpaid dues could be settled soon, after the airline's chief executive Datuk Tony Fernandes met Prime Minister Datuk Seri Najib Razak.

MAHB, which owns and manages most of Malaysia's airports, has a string of differences with the budget carrier. They include the location and cost of a new budget terminal and — most importantly from AirAsia's point of view — the fees it charges.

Fees have been a bone of contention since AirAsia moved into the current budget terminal next to Kuala Lumpur International Airport.

Airline executives say no rental agreement has been signed because Air-Asia says MAHB's charges are too high. As a result, MAHB insists AirAsia owes it RM103 million.

The dispute has hurt the airline. A month ago, the government turned down a request from AirAsia X — the carrier's long-haul unit — for the rights to fly to Seoul and Sydney. No written rejection has been forwarded to AirAsia but the decision has been conveyed verbally to AirAsia X.

This is a blow to the airline, which was counting on the new routes to use new planes that will be delivered this year.

“The government has decided to defer granting us approval,” AirAsia X chief executive Azran Osman-Rani said in The Star newspaper yesterday.

“They want AirAsia to settle its dues with MAHB,” he said. “It is a high-profile issue. But we are AirAsia X — not the ones that owe MAHB money for airport services. Every invoice we receive is paid within 30 days.”

Fernandes met Najib last Friday to discuss the situation. According to a government official, the talks were amicable but Fernandes was urged to settle the “dues” issue.

The airline's executives said AirAsia is awaiting MAHB's confirmation in writing of the amount owed, before proceeding with the matter.

But it is not clear whether AirAsia X will get the Sydney and Seoul routes even if AirAsia does settle its dues.

According to the executives, objections to AirAsia X were also raised on the grounds of giving national carrier Malaysia Airlines more time to prepare itself for the competition. — Business Times Singapore
nazri no está en línea   Reply With Quote
Old July 29th, 2009, 04:00 PM   #1749
nazri
BANNED
 
Join Date: Jul 2009
Posts: 361
Likes (Received): 1

AirAsia X to launch new Middle East hub
Published: 2009/07/29

Long-haul budget airline AirAsia X said today it would launch a new hub in the Middle East, enabling its network to extend to north Africa and Europe.

AirAsia X’s chief executive officer Azran Osman-Rani said a location had already been chosen in a Gulf state but that it would not be disclosed for several weeks.

“This will open up completely new markets, and we won’t always have to have the planes based in Kuala Lumpur, which limits us to an eight-hour radius,” Azran told reporters.

“There will be many in the aviation industry who think this is crazy because the traditional low-cost model is to do only point-to-point flights... to keep it simple,” he said.

Azran said, however, that while there would be “some additional cost”, AirAsia X would not need to create new infrastructure and would instead hire existing services for cargo, catering and maintenance.

Initially, the carrier will operate flights from Kuala Lumpur to the Middle East hub, before branching out next year by using it to jump to destinations that could include Morocco, Turkey, Spain or the Czech Republic.

Azran said the plan was also triggered by potential problems accommodating new aircraft, amid doubts that Malaysia’s airports authority will complete a new low-cost carrier terminal in Kuala Lumpur by 2011 as scheduled.

“It will relieve the pressure of having all our planes in Kuala Lumpur, especially if the new airport is not finished and we do not have enough parking bays,” he said.

AirAsia X now flies to seven destinations, with two more planned by the end of 2009. It operates five planes, a combination of Airbus A330s and A340s, with three more medium-range A330s due for delivery this year, three in 2010 and six in 2011.

Azran said this week that AirAsia X has been denied permission by the Malaysian government to fly into Sydney and Seoul, due to a row over its sister carrier AirAsia.

But he said Wednesday that it would instead boost flight frequency to the Gold Coast in Australia, Hanzhou in China, and the Taiwanese capital Taipei.

An affiliate of regional low-cost carrier AirAsia and Virgin Group, AirAsia X was launched in January 2007. AirAsia and AirAsia X have common shareholders, including AirAsia founder and CEO Tony Fernandes. -- AFP
nazri no está en línea   Reply With Quote
Old July 30th, 2009, 04:46 AM   #1750
berdnerd
In the brig
 
Join Date: Feb 2009
Location: Bangkok
Posts: 309
Likes (Received): 2

STOP BEING DELAYED!!! i would be really appreciate!
berdnerd no está en línea   Reply With Quote
Old July 30th, 2009, 07:05 AM   #1751
nazri
BANNED
 
Join Date: Jul 2009
Posts: 361
Likes (Received): 1

AirAsia X expanding despite flying rights halt
By B.K. SIDHU 30 Jul 2009

KUALA LUMPUR: The failure to secure the rights to fly to Sydney and Seoul will not stop AirAsia X from expanding.

The long-haul budget carrier planned to redeploy excess capacity through an expansion in existing routes as well as flying into Chengdu and the Middle East, said chief executive officer Azran Osman-Rani.

“With the turn of events, we will devise a new strategy and not delay our expansion. We also have more route approvals (that we could use).

“We do not want to lose the (growth) momentum created in the past 20 months,’’ he told a press briefing here yesterday, adding that AirAsia X would fly to Chengdu soon and the Middle East before Hari Raya Haji.


Azran He declined to name the destination in the Gulf region, merely saying it has a Formula One racing circuit with vast connectivity.

Both Bahrain and Abu Dhabi have F1 circuits; sources told StarBiz it could be Abu Dhabi.

AirAsia X now flies to seven destinations – Gold Coast, Melbourne, Perth, Tianjin, Hangzhou, Taipei and London – using five aircraft.

It will add three new aircraft before year-end, thus the interest to fly to Seoul and Sydney.

The Government has delayed making a decision on AirAsia’s request to fly to Sydney and Seoul.

Asked when it could get the nod to fly to Seoul and Sydney, Azran said: “No visibility, but we are moving on.

“We also need lead time to market the routes and it would be too late, so we decided to redeploy by adding more flights to existing routes and being creative in opening new routes.’’

AirAsia X will increase capacity by 40% to Taipei, 50% for Gold Coast and 20% for Hangzhou, according to Azran.

It now flies five times weekly each to Taipei and Hangzhou and four times weekly to Gold Coast.

AirAsia X has rights to fly to Melbourne and Perth 14 times weekly and will look to raise the capacity there.

“Adding more flights to Melbourne and Perth will benefit the network, transit time and improve yields,’’ Azran said.

Other points in China on AirAsia X’s radar screen are Xian, Wuhan and Shenyang.

Next year, it will fly to India and has submitted an application to fly to New York.

The airline’s growth momentum was strong in the first half of 2009, with more passengers carried than all of 2008.

July is also the fourth consecutive month that AirAsia X had sold 100,000 tickets, with its London sector achieving record 90% load factor.

It will also set up a virtual hub in the Gulf region in 2010 in partnership with an airport there.

That will be its springboard to new markets and a strategy to build a wider network ahead of it taking delivery of its A350 aircraft in 2016.

The point in the Gulf region will serve to link up cities in Europe and Africa.

According to Azran, 22% of the airline’s passengers to London go to other cities, which gives AirAsia X the confidence to set up a hub outside Malaysia.

The rationale to have a hub outside Malaysia was also due to concerns that the new Low-Cost Carrier Terminal might not be ready by 2011, and that flying from Kuala Lumpur limited the airline to an 8-hour radius, he said.

“We need to get a contract from MAHB (Malaysia Airports Holdings Bhd) that provides incentives for us to grow or we will use more hubs and keep our aircraft outside of KL.

“The virtual hub is a strategic twist to the way we will operate our business, given the constraints,’’ he said.

Another possible area for a virtual hub is the Trans Tasman area (Australia/New Zealand).

Next year, AirAsia X would also focus on improving its seat configuration to add more leg-room and flat beds as part of its strategy to improve its products and services, Azran said.
nazri no está en línea   Reply With Quote
Old July 30th, 2009, 07:35 AM   #1752
Skyprince
Asian boi
 
Skyprince's Avatar
 
Join Date: May 2006
Location: Kuala Lumpur
Posts: 7,941

I think it's going to be Abu Dhabi........... Bahrain is way too small market ( though it's bordering a huge metro area of Saudi ) .. Sharjah ? I think Air Arabia will oppose it.

Chengdu will be very nice too, it's the gateway to Tibet !
Skyprince no está en línea   Reply With Quote
Old July 30th, 2009, 10:00 AM   #1753
demanjo2
Registered User
 
Join Date: Mar 2008
Posts: 152
Likes (Received): 1

Just booked 4 adults to go Gold Coast - Kuala lumpur on peak season (departing 25th dec, return 7th jan) for $2000 AUD total.

pretty damn good over peak season!!!!

I was waiting for the Sydney flights, but extra flights from GC are also no problem.
demanjo2 no está en línea   Reply With Quote
Old July 30th, 2009, 06:02 PM   #1754
killerk
Registered User
 
Join Date: Mar 2007
Location: Houston, Texas
Posts: 3,516
Likes (Received): 1116

Quote:
Originally Posted by Skyprince View Post
I think it's going to be Abu Dhabi........... Bahrain is way too small market ( though it's bordering a huge metro area of Saudi ) .. Sharjah ? I think Air Arabia will oppose it.

Chengdu will be very nice too, it's the gateway to Tibet !
Abu Dhabi is horribly underserved......mostly because of the presence of Dubai airport just 120 kms away.....and very few low cost carriers fly there (comparing the other Middle east cities of similar importance)

Sharjah is out of the list I presume because the place does not have a F-1 race track...

Bahrain has its own low cost airline....Bahrain Air in addition to the struggling full service Gulf Air....I will be really surprised if the Bahrain Govt. actually allows Air Asia X to set up a hub there!!
killerk está en línea ahora   Reply With Quote
Old August 1st, 2009, 08:42 AM   #1755
nazrey
Registered User
 
nazrey's Avatar
 
Join Date: Sep 2003
Posts: 91,245
Likes (Received): 11231

Analysts positive on AirAsia placement plan
Saturday August 1, 2009
By RACHAEL KAM

PETALING JAYA: Analysts have responded positively to AirAsia Bhd’s plan to place a private placement of 20% of its share capital to raise about RM500mil, saying the move would “substantially enhance” AirAsia’s ability to restructure its finances while earnings dilution would be minimal.

The airline recently proposed a private placement of new shares amounting to 20% of its existing paid-up share capital or 475 million shares, with the aim to reduce debts and have more cash.

Affin Investment Bank said it has turned “sanguine” on AirAsia following the announcement of the private placement plan, in addition to the budget airline’s decision to defer delivery of eight aircraft in 2010 and seven in 2011 to 2014.

“We were previously concerned over AirAsia’s increasingly stretched balance sheet in lieu of its aggressive fleet expansion as well as steep earnings dilution arising from a potential cash call,” the brokerage said.

Based on AirAsia’s closing price on Thursday at RM1.48 and an estimated RM500mil to be raised, the research house calculated that some 338 million new shares would be issued.

“This represents 13% of the enlarged share base of 2.7 billion. Together with the guidance that the placement price will be close to prevailing market price, we thus believe that the potential earnings dilution will be minimal,” it said.

Affin Investment also said the lower capital expenditure (capex) requirements in tandem with the deferment in aircraft delivery addresses its concerns over AirAsia’s future funding commitments, and estimated that its net gearing position would fall to 2.6 times from 3.7 times in first quarter.

The budget airline’s capex has been reduced to RM4.5bil over fiscal year 2010 (FY10) to FY11 from RM6.8bil based on initial aircraft delivery schedule.

Affin also lifted its core earnings forecast by 6%-7% for AirAsia, projecting that the airline would make RM545.5mil in fiscal year 2010 and RM591.7mil in 2011.

However, after accounting for an enlarged share base in FY10, the budget airline’s earnings per share (EPS) would decline 7%, the brokerage said.

Affin has lifted its recommendation on AirAsia to “trading buy” from “reduce” with the target price raised to RM1.81 from RM1.10 previously.

TA Securities said the private placement would substantially enhance AirAsia’s ability to restructure its finances.

“Gearing ratio would decline to 2.7 times from 3.7 times,” it said in a note to clients recently, noting that a high gearing level was a key investment concern on the stock.

The brokerage adjusted upwards AirAsia’s earnings estimates by 10.9% to RM574.8mil in fiscal year 2009 and by 45.3% to RM758.5mil in 2010.

TA has maintained its “buy” call on the stock with a target price of RM2.20.

The brokerage said it estimated AirAsia’s private placement would raise gross proceeds of about RM487mil, with the proceeds to be allocated for working capital purposes only.

“The group is more likely to allocate 10% to institutional investors, while the balance will be allocated to existing shareholders,” analysts with the brokerage said.

ECM Libra Investment noted that AirAsia’s shares have surged 27.5% in just two weeks, saying it did not expect its trading target price of RM1.50 to be achieved so fast.

The brokerage recommended a “buy” call on AirAsia with a 12-month target price of RM1.90.

“If AirAsia can break above its major resistance at RM1.70, it will likely head towards the RM2.00 region soon,” ECM Libra said in a research note.

The counter was heavily traded yesterday to close two sen higher, or 1.3% at RM1.50, with 15.7 million shares changing hands.
__________________
Malaysia Photo Gallery - Click Here for Malaysia Galleries
City & Town - | Kuala Lumpur | Penang | Malacca | Putrajaya | Cyberjaya | Langkawi
Alor Setar, Ipoh, Johor Bahru, Kangar, Kota Bahru, Kota Kinabalu, Kuantan, Kuala Terengganu, Kuching, Seremban, Shah Alam, etc!
nazrey no está en línea   Reply With Quote
Old August 1st, 2009, 11:18 PM   #1756
killerk
Registered User
 
Join Date: Mar 2007
Location: Houston, Texas
Posts: 3,516
Likes (Received): 1116

Abu Dhabi is new Mideast hub for AirAsia's long-haul carrier

By Asha Popatlal, Channel NewsAsia | Posted: 01 August 2009 0126 hrs

KUALA LUMPUR: AirAsia's Group CEO Tony Fernandes has confirmed that Abu Dhabi will be the new Middle East hub for its long-haul carrier AirAsia X.

Having a hub means that the carrier will be able to base its planes outside Kuala Lumpur, and it will not be limited to servicing destinations within an eight-hour radius from the Malaysian capital.

This will allow its network to extend to North Africa and Europe, as it can use the Middle East port as a stopover. - CNA/de

http://www.channelnewsasia.com/stori...446087/1/.html
killerk está en línea ahora   Reply With Quote
Old August 3rd, 2009, 08:25 PM   #1757
nazrey
Registered User
 
nazrey's Avatar
 
Join Date: Sep 2003
Posts: 91,245
Likes (Received): 11231

AirAsia to sell up to 480m new shares
Published: 2009/08/03

AirAsia Bhd, Southeast Asia’s biggest discount carrier, plans to sell up to 481 million new shares in a private placement, the carrier said in a statement to the Kuala Lumpur stock exchange today.

The issue price will be fixed at a date to be determined later by way of book building and the proceeds will be used to repay part of the borrowings of AirAsia, the company said. The new shares represent as much as 20 per cent of the equity.

AirAsia has ordered 175 planes from Airbus SAS, making the carrier the biggest customer for the planemaker’s single-aisle aircraft in Asia. The Sepang, Malaysia-based airline is expanding its fleet to add more routes to China and India as economic growth in the region spurs travel demand.

The airline had a debt-to-equity ratio of 4.17, based on RM1.605 billion (US$458 million) of equity and RM6.691 billion of total debt, according to data compiled by Bloomberg and AirAsia’s most recent annual report.

AirAsia rose 2.7 per cent to RM1.54 in Kuala Lumpur today. The stock has gained 78 per cent this year. - Bloomberg
__________________
Malaysia Photo Gallery - Click Here for Malaysia Galleries
City & Town - | Kuala Lumpur | Penang | Malacca | Putrajaya | Cyberjaya | Langkawi
Alor Setar, Ipoh, Johor Bahru, Kangar, Kota Bahru, Kota Kinabalu, Kuantan, Kuala Terengganu, Kuching, Seremban, Shah Alam, etc!
nazrey no está en línea   Reply With Quote
Old August 3rd, 2009, 09:52 PM   #1758
nazrey
Registered User
 
nazrey's Avatar
 
Join Date: Sep 2003
Posts: 91,245
Likes (Received): 11231

AirAsia sees more than RM1b in coffers
By Jeeva Arulampalam Published: 2009/08/04

Low-cost carrier AirAsia Bhd (5099) expects to have more than RM1 billion in its coffers by the end of the year, as it grows its profits and undertakes a private placement, says its chief.

“The cash will be used to lower the group’s gearing,” group chief executive officer Datuk Seri Tony Fernandes told reporters after the airline’s annual and extraordinary general meetings in Sepang yesterday.

In an announcement to Bursa Malaysia yesterday, AirAsia has proposed a private placement of up to 481.14 million new ordinary shares of 10 sen each, which could potentially raise gross proceeds of up to RM601.43 million.

The proceeds are based on an issue price of RM1.25 per placement share, representing a discount of 3.10 per cent to the five-day weighted average market price of AirAsia shares up to and including July 27 of RM1.29.

This will represent up to 20 per cent of the issued and paid-up share capital of AirAsia as at July 27 of RM237.56 million, comprising 2.37 billion shares.
“Our aim was just to raise some RM500 million to reduce our net gearing.

We have received interest from many local and foreign investors,” said Fernandes.
The placement will reduce the airline’s net gearing from 3.71 times to 2.56 times based on its unaudited accounts as at March 31 2009.

As much as RM68.76 million of the proceeds will be used to re-pay part of AirAsia’s interest-bearing borrowings.
When asked if the placement will be done in tranches, Fernandes said the group would rather place the 20 per cent altogether upon receiving the necessary regulatory approvals.

The private placement is expected to be completed by the fourth quarter of this year.

Meanwhile, the group’s current cash and cash equivalents as at March 31 2009 stood at RM223.99 million.
On the airline’s overall business, Fernandes said passenger growth was good for its second quarter ended June 30 2009, with a load factor of 76 per cent.

“We do hope to announce a positive second quarter and move towards a profitable full year,” he said.
AirAsia is expected to release its fiscal second-quarter results within the next two weeks.

It posted a net profit of RM203.1 million for its first quarter.
Fernandes also said that AirAsia is currently in discussions with Malaysia Airports Holdings Bhd over the outstanding airport taxes owed to the airport operator.

“The airport charges should be resolved in the next two to three weeks,” he said.
Fernandes also denied that AirAsia is eating into Malaysia Airlines’ (MAS) market share.

Rather, it has grown the domestic and regional air travel markets.
“The only way we have grown from 200,000 to 24 million passengers is by offering low fares and developing 44 new routes.

I can’t see how we can cannibalise when we start flying brand new routes not served by MAS,” he said.
__________________
Malaysia Photo Gallery - Click Here for Malaysia Galleries
City & Town - | Kuala Lumpur | Penang | Malacca | Putrajaya | Cyberjaya | Langkawi
Alor Setar, Ipoh, Johor Bahru, Kangar, Kota Bahru, Kota Kinabalu, Kuantan, Kuala Terengganu, Kuching, Seremban, Shah Alam, etc!
nazrey no está en línea   Reply With Quote
Old August 4th, 2009, 10:23 AM   #1759
nazrey
Registered User
 
nazrey's Avatar
 
Join Date: Sep 2003
Posts: 91,245
Likes (Received): 11231

Strong demand for AirAsia new shares
Published: 2009/08/04

SOUTHEAST Asia’s largest budget carrier, AirAsia, has seen strong demand for its share issue worth US$172 million which it will use to reduce its debt, chief executive officer Datuk Tony Fernandes said today.

The airline plans to place up to 481.1 million shares, representing a 20 per cent stake, to buyers to be identified later, sending its stock 6 per cent lower.

As of mid-June, AirAsia was one of Airbus’s biggest customers in terms of outstanding orders.

Fernandes said the company’s new shares will be priced at a 5 to 10 per cent discount to the market price of AirAsia shares at the time of issue.

“There’s a lot of liquidity in the market. We think (now) is a good time to reduce our gearing,” he told Reuters by telephone.

By 0400 GMT, AirAsia shares were down 6.5 per cent at RM1.44 with more than 5.0 million shares traded against a daily average of 4.3 million shares over the past 30 days.

Maybank Investment Bank analyst Khair Mirza said the airline’s gearing will drop to 3 times by end-2009 from 3.8 times.

“But we consider the 17 per cent earnings per share dilution a steep price to pay for a temporary respite,” said Khair, who has a sell recommendation on the stock.

AirAsia has received strong expressions of interest from both foreign and local institutional funds for the new shares, Fernandes said, adding that the placing is expected to be completed by the second week of September.

The stock has jumped 69 per cent so far this year, outperforming a 34 per cent rise in the broader market.

“We recommend investors to switch to Malaysia Airports for low-risk leverage on the air travel market’s potential recovery in 2010,” said Maybank’s Khair.

AirAsia releases its second-quarter results on August 12. - Reuters
__________________
Malaysia Photo Gallery - Click Here for Malaysia Galleries
City & Town - | Kuala Lumpur | Penang | Malacca | Putrajaya | Cyberjaya | Langkawi
Alor Setar, Ipoh, Johor Bahru, Kangar, Kota Bahru, Kota Kinabalu, Kuantan, Kuala Terengganu, Kuching, Seremban, Shah Alam, etc!
nazrey no está en línea   Reply With Quote
Old August 4th, 2009, 05:28 PM   #1760
melbstud
Registered User
 
Join Date: Mar 2008
Posts: 667
Likes (Received): 7

I think its no good now if they cant serve Sydney. AUH well done.
melbstud no está en línea   Reply With Quote


Reply

Tags
malaysia, oneworld, southeast asian airlines

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Related topics on SkyscraperCity


All times are GMT +2. The time now is 06:57 PM.


Powered by vBulletin® Version 3.8.11 Beta 4
Copyright ©2000 - 2018, vBulletin Solutions Inc.
Feedback Buttons provided by Advanced Post Thanks / Like (Pro) - vBulletin Mods & Addons Copyright © 2018 DragonByte Technologies Ltd.

vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2018 DragonByte Technologies Ltd.

SkyscraperCity ☆ In Urbanity We trust ☆ about us | privacy policy | DMCA policy

tech management by Sysprosium