Air Asia is a cheat – Part 3 “Now Everyone can buy Air Asia’s tickets but cannot fly”


AirAsia suspends daily flights to Colombo

Air Asia a.k.a. the No-frills airlines also a.k.a. the Low Caste Carrier (LCC) will be withdrawing daily flights from Kuala Lumpur to Colombo, Sri Lanka effective February 26, 2013 due to commercial reasons.

Endangering the public’s safety is Air Asia’s priority.

Malaysiaairlinesfamilies say it is obviously crystal clear that Air Asia is scrapping its daily flight from Kuala Lumpur to Colombo vice-versa due to its impending AOC that’s expiring in March 2013 which may not be extended for the good of the public.

It said that affected passengers have a choice to move their flights to an earlier date, to or from Kuala Lumpur or Colombo. This is without any extra charges, subject to availability of seats or they will be offered a credit shell for the value they paid, with validity of three months or a full refund.

Air Asia passengers who are affected by the withdrawal of this route will be offered options to alleviate any inconvenience that might occur and each affected passenger will be notified via their registered member email account, as well as an SMS notification of the route termination. Air Asia’s customer service staff will also notify each affected guest via phone on the options available to them.

Air Asia will also be cancelling its daily flights to Clarke; Philippine for the very same reason.

Crashed

And Air Asia’s share prices start dropping fast from 2.93

AA76

to…..???

279

Do you know that Air Asia stop paying out dividend to shareholders since 2007?

AA0

AA78

Air Asia’s net Financing Cash flow (FCF) from 2007 to 2011 (above)

We could probably be wrong; however judging from its escalating present internal politics inside Air Asia – we do believe Air Asia will not survive in term of its lifespan that has reached the peak of mountain “Chapter 11″.

Air Asia is running out of cash-pumping strategy to sustain its unprofitable low cost business which has bigger plan to become the largest Low Caste Carrier (LCC) in Asia Pacific Region. It looks to us Air Asia is gonna falling hard and failing many shareholders.

It’s called BOOMERANG….Tony boy!

The remaining shareholders of Air Asia should have learned from the rich Knight who left Air Asia earlier even before Air Asia start soaking into massive debts with Tony Boy unsound strategy in buying Airbus planes with no place to dump and no airlines to buy from Air Asia – Group Tune Air.

Tony Boy has cracked his head by pumping more cash and more borrowings to improve Air Asia’s share prices that had crashed much since Malindo Airways exits. This sounds like Tony boy got shaken by Malindo Airways. Whilst Air Asia is paying bits of its peanut to its workers; Tony Fernandez continues rewarding himself a better pay of RM2 million increased from his RM7 million to RM9 million in 2011.

TFremunationDoes he really care for his workers? 

Tony Fernandez has the habit to fix dead salaries for Air Asia’s workers.

TFbluff

Figure 1

The average salaries and wages including of bonuses and allowances for each worker is at RM4,000++ per month. This figure taken for total workers in Air Asia is  from Tony’s blog where he claimed that Air Asia has 9,000 workers since 2011. Mathematically, the Air Asia financial statement for 2011 agreed with a take home pay of more than RM4,000 for each worker of Air Asia.

TF1

Air Asia has fast track promotion. Unfortunately those promotion pathetically do not come with an increment. If you’ve worked for Air Asia since 1997 – your salary will still be remained stagnant based on the last drawn salary as of year 1997.

Tony boy claimed Air Asia is doing well. The figure 1 above proves otherwise (passenger seats). The passenger seats had only 7% improvement despite Firefly was terminated by Tony boy after he became MAS board of director during the share-swap with Malaysia Airlines. Though the share swap between Malaysia Airlines and Air Asia is over; Tony Fernandez will not give up on Malaysia Airlines to another new owner.

On the contrary, the figure below proven different but real story of Air Asia which Tony Fernandez claimed otherwise that Air Asia is doing well. Rather he’s reluctant to reveal the number of dormant companies within the Group Air Asia that significantly establishing the facts on Air Asia isn’t performing well at all.

Dormant1

Dormant2

Only seven out of twelve subsidiaries of Air Asia is still in operating modes. That’s less than 60% of survivability not including Group Tune Air that have more airplanes to sell without the buyers.

Served you well Tony Boy and you certainly deserve this cause of effect for cheating the public.

Stay tuned to malaysiaairlinesfamilies more updates on Air Asia’s scammy businesses.

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4 thoughts on “Air Asia is a cheat – Part 3 “Now Everyone can buy Air Asia’s tickets but cannot fly”

  1. Wouldn’t draw the same conclusion on the dormant companies, but nice try though. If you look back to the prospectus of the IPO most if not all (Crunchtime didn’t exist then), the other registered names existed. They’re a mix of shell companies and “name securing” (ie. like reserving .com addresses before someone else pinches it) entities. Tony’s all about branding remember so wouldn’t want someone to steal his brand names here or abroad. These are for future expansion, eg the never started Brunei hub, Hong Kong hub, etc. Brunei was supposed to be before Thailand if I recall (but then India was supposed to be before Indonesia or Thailand so I dunno).

    More to the point, I’d want to know if he’s using the shell companies for moving money around, etc. Every dog has his tricks…

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