He who has the history of bankrupting and DE-listing a private corporate company – Malakoff Corporation Berhad; who successfully and viciously terminated thousands of workers during his tenure with Malakoff Corporation Berhad; and he who had declared for Malaysia Airlines the first massive losses of RM2.52 billion during the share swap and collaboration framework with Air Asia.
WE believe MAS present CEO is either incompetent or intentionally collaborating with Tony Fernandez of Air Asia to save Air Asia from bankruptcy at the expense of Malaysia Airlines by giving away MAS routes to Air Asia terminating Johannesburg that generated 80% of revenue for Malaysia Airlines; Dubai that generated almost 95% of revenue for Malaysia Airlines and Haneda that merely started to generate revenue for Malaysia Airlines. He fails in his fiduciary duty recovering the loss of MAS routes from Air Asia. The longer he sits as MAS CEO position; the more routes will be lost to Air Asia through his plannings. His claims were those routes were not profitable and bleed MAS to dry and by contrast he has granted Air Asia many opportunities to open new routes into those routes MAS had lost under the corporate leadership of Ahmad Jauhari – a.k.a. The Clueless CEO. The truth is Ahmad Jauhari secretly approved the giving away of Johannesburg, Dubai, Haneda and Taipei for Air Asia.
Ahmad Jauhari has been lying to his workers of the performance of Malaysia Airlines and we caught his evil collaboration with Tony Fernandez and proxies i.e. Azahari Dahlan and Zahrah Zaid for fixing up the workers from the inside of Malaysia Airlines.
Let us brief the public the ingredients to destroy Malaysia Airlines by Tony Fernandez’s proxies;
- Ahmad Jauhari’s special skill is to shrink the operation; DE-listing the corporation like what he did to Malakoff Corporation Berhad and planting more corporate espionage of Air Asia into Malaysia Airlines establishing the platform of insecurity for the workers. His plans were to DE-list Malaysia Airlines and possibly bankrupt it at one ringgit value for Tony Fernandez to buy over. His best performance is playing PRETENTIOUS GAME with MAS workers seemingly portray a good man with vision to save Malaysia Airlines. Time for Ahmad Jauhari to tender his resignation as soon as possible or face the invincible wrath – FIRED and HUMILIATED.
- Azahari Dahlan will work on recruiting Air Asia’s loyal workers into Malaysia Airlines Aerospace Engineering with intention to sabotage Malaysia Airlines’ aircraft where he successfully responsible for engines on fire and emergency landing. His further mission is to ensure Air Asia’s aircraft could be serviced for FREE on the house when Air Asia sends all of its Airbus aircraft for major overhaul maintenance this coming August 2013. The last head of division in MAE had responsibly asked for CASH TRANSACTION from Tony Fernandez; was terminated by Ahmad Jauhari.
- Zahrah Zaid’s mission is to crush the workers’ rights and fixing the workers for fast termination. She is to break up all MAS unions and associations before her contract ends with MAS. Whilst she sat as the director for MAS Human Resource Division; she quickly fixed the remuneration for the top management using the budget that was meant for the workers and today she had her salary hiked up 150% from RM40,000 right up to RM100,000. Read here for more information on Zahrah Zaid’s infamous history.
The TRIO have planned well for fixing all the workers using their available sources, relatives and connection. Especially Ahmad Jauhari – he has a relative working as Deputy Director of Anti-Corruption Agency to frame up those who were against the collaboration with Air Asia with the help from NUFAM, NUFEM (that is yet to be formed) and NUFOAM (that is under way to be formed).
Tony Fernandez desperately wanted Malaysia Airlines more than any other businesses. He sees MAS as a very SEXY LADY and wishes to re-marry MAS through the Malaysian tycoon – Syed Mokthar Al-Bukhari buying over Malaysia Airlines. Syed Mokthar Al-Bukhari does not have the expertise to run Malaysia Airlines and we believe he is being used by Tony Fernandez to purchase Malaysia Airlines from the ladies in RED.
However, in this Episode 2; you will learn the comparison on the performance between Malaysia Airlines and Air Asia where Malaysia Airlines’ shares is expected to rise up to RM8.50 than of Air Asia’s shares which has more limitation in ratio of profit to value and cash return on investment.
MORGAN & STANLEY analyzed on prospective F2008 P/BV, both MAS and Air Asia are trading at undemanding multiples of 1.2-1.3x, comparable to the Tier-1 airlines multiple of 1.3x. We do not look at P/E multiple as Air Asia’s earnings are boosted by deferred income tax credit, and contribute to the low artificial P/E multiple.
Investment Conclusions. Morgan and Stanley conclude with three investment observations.
- Closing the Efficiency Gap. We believe MAS has successfully restructured its business model and has a new business transformation plan to grow operating revenues. By focusing on delivering value to passengers and cargo/MRO customers and taking out non-essential costs, MAS is building a lean cost structure to compete more effectively with low-cost airlines and the regional network airlines. Air Asia, which viewed MAS as a non competitive threat in the past because of its gross operational inefficiency, is now re-defining its product to create added-value services to compete with MAS. The net impact is the operational efficiency gap between the two airlines has narrowed significantly over the past two years, as highlighted by the operating and pretax margin trends (see Exhibit 2).
- Sharp Divergence in Cash Position. MAS raised its cash reserve through a rights and loan stock issue last year and had accumulated a cash position of RM5.3 billion at December 2007. In a very tight liquidity credit market, MAS had net cash of RM4.4 billion while Air Asia had net debt of RM3.3 billion at December 2007. As funding costs start to rise with increasing credit default risk, we think Air Asia’s plans to seek to fund its aggressive capital expenditures of RM2-3 billion for the next five years might encounter difficulties in a tough credit market. In F2008, we estimate Air Asia would need to raise about RM3 billion to fund the estimated capital expenditure of RM2.8-3.0 billion, whereas we estimate MAS’ capital expenditure would not be more than RM1.0 billion.
- Potential Derivative Losses. We are particularly concerned about Air Asia’s fuel hedging position. We view the directional bet on oil positions via its sold call options – currently exposed on its F2009 and F2010 oil positions – as potential derivative losses that could severely undermine the company’s cash flow to service both the interest and fixed contractual payments. If WTI oil prices remain above US$90/bbl for the next two years, the underlying operational losses, and more importantly, reduced cash flow generation for Air Asia could have a substantial impact on its franchise value. In contrast, MAS has adopted a conservative fuel hedging strategy whereby it will benchmark its hedging ratio to the average hedging ratio of the Asian airlines to reduce oil volatility.
On a risk-reward tradeoff for the Malaysian aviation sector, we believe MAS shares offer much better risk-adjusted upside potential than Air Asia shares, and we recommend investors switch from Air Asia to MAS. Given MAS’ franchise value of less than 1.0x EBITDA, we believe MAS is attractively valued for deep-value investors.
Buy MALAYSIA AIRLINES And Sell Air Asia
Morgan Stanley research on Air Asia
- Tough corporate restructuring builds a strong platform for MAS to compete effectively with the top airlines in Asia.
- Active yield management drives up operating revenues and enhances operating margin.
- Falling oil prices boost near-term earnings and contribute to positive earnings surprises.
Key Value Drivers
- Network rationalization enhances operational efficiency and load factors.
- Focus on profitable routes and maximize yield to enhance value for shareholders.
- Surplus cash reinvested for earnings growth to enhance shareholder value.
- Yield surprise. Higher fares achieved despite lowering fuel surcharges due to active yield management.
- Positive earnings surprise could arise from Airbus compensation, falling oil prices, or higher yields.
- Jet fuel prices below US$95/bbl would lower MAS’ operating costs to 31% vs. 34% currently, and substantially improve net earnings.
- Slower global GDP growth. If US and global economies slow significantly, the weak global travel outlook would be negative for the carrier.
- Threat of low-cost airlines. If LCCs aggressively lower fares to increase market share, MAS and other airlines would likely cut their own fares to protect leisure passenger segments.
- Strong competition from Gulf carriers. Gulf carriers are expanding their fleets aggressively to take advantage of open skies in Asia. Long-haul routes at risk for MAS.
- Low-cost airlines (LCCs) in Asia have the potential to increase passengers at a CAGR of at least 20% for the next five years, by our estimates.
- Air Asia has the first-mover advantage in the LCC industry, and the carrier has built a proven and successful LCC business model in Asia.
- If WTI crude oil prices stay above US$90/bbl in 2009 and 2010, Air Asia would be exposed to substantial derivative fuel contract losses and lack of cover for the high jet fuel prices, and this could lead to negative earnings surprises.
Key Value Drivers
- Factors driving the high LCC growth are liberalization of ASEAN and Asian skies, doubling of aircraft orders by Asian LCCs in four years, and low market penetration by LCCs in the Asia/Pacific market.
- High operating earnings CAGR supports high EV/EBITDA, and is a key support for Air Asia’s share price, in our view.
- Fast track in ASEAN aviation liberalization.
If ASEAN skies are liberalized ahead of the 2008 deadline, we see additional regional cities as an upside option for the carrier.
- Network route rationalization.
We see significant incremental growth potential from the domestic and international routes, particularly from capacity expansion to India and China, two of the fastest-growth aviation markets in the world.
Key Downside Risks
- Restructured and recharged Malaysia Airlines (MAS).
We think the revamped national carrier could prove to be a formidable competitor to Air Asia. Impact of high fuel surcharges on underlying fares. The higher ticket fares, which incorporate the increased fuel surcharges, could have negative implications for passenger travel.
- Inflated equity.
We think net equity for Air Asia was inflated by 30% at June 2007, and possibly by about 35-40% for the next 2-3 years, due to mounting deferred tax credits and deferred associate losses on the balance sheet.
Malaysiaairlinesfamilies will continue to expose Ahmad Jauhari’s illegal activities inside Malaysia Airlines – so Ahmad Jauhari better equip with battalion or leave before your are fired and arrested. You shall continuously declaring profits for Malaysia Airlines and promoting MAS shares transparently.
Stay tuned for more updates on Tony Fernandez is making a comeback to Malaysia Airlines using MAS gullible workers and the billionaire tycoon.
The industry view on the National Carrier – The Malaysia Airlines conclusively recommended the investment funds holding Air Asia to switch into Malaysia Airlines (MAS). On a risk-adjusted reward trade, a well-known researcher Morgan & Stanley see limited downside for MAS at the current price. Net cash accounts for more than 70% of market capitalization, and Morgan & Stanley believe the MAS share price could double if the carrier achieves its internal net profit target of RM0.7-1.0 billion for this year. In contrast, Morgan & Stanley (M&S) think Air Asia’s share price could see further downward pressure if oil prices and funding costs stay high.
Where M&S Differ:
While many like Air Asia’s low-cost business model, we think MAS has restructured its operation to be extremely competitive with Air Asia, and the carrier now has much better fundamental operating prospects than Air Asia does. The market appears to believe Air Asia will continue to take market share from MAS.
Malaysiaairlinesfamilies; however, believe drastic changes may affect Air Asia market share from MAS when Malindo Airways took off in March 2013. Many Malaysians are waiting in line to fly with Malindo Airways.
Why Morgan & Stanley Researchers Like MAS over Air Asia:
Disciplined growth strategy;
Sharply improving operating and pretax margin trend;
Prudent fuel hedging strategy;
Strong balance sheet and negative gearing; and
Attractive relative valuation.
Divergence in Relative Valuation: If we subtract net cash from MAS’ market capitalization, its franchise value is less than 1.0x EBITDA. In contrast, EV/EBITDA for Air Asia at 11.5x is expensive, given the inherent risks of potential fuel-hedging derivative contract losses and higher funding costs to finance capital expenditures for the next five years.
“Buy MAS, Sell Air Asia”
Brief notes about Morgan & Stanley:
Morgan Stanley does and seeks to do business with companies covered in Morgan Stanley Research. As a result, investors should be aware that the firm may have a conflict of interest that could affect the objectivity of Morgan Stanley Research. Investors should consider Morgan Stanley Research as only a single factor in making their investment decision.
For analyst certification and other important disclosures, refer to the Disclosure Section, located at the end of this report.
+= Analysts employed by non-US affiliates are not registered pursuant to NASD/NYSE rules
The rating of MAS & Air Asia by Morgan Stanley in April 2008
MAS (RM3.60) is rated Overweight (RM7.00 price target) above;
While Air Asia (RM1.38) is rated Underweight (RM1.20 price target) below
Investment Case – Summary and Conclusions by Morgan & Stanley
In our initiation report on Air Asia, First-Mover Advantage in High-Growth Industry (30 June 2005), we provided a comparative analysis between Air Asia and Malaysia Airlines (MAS) on the domestic operation. Our conclusion was that even though Air Asia network capacity size is about 15% smaller than MAS’, Air Asia has significantly lower unit costs that more than offset its low unit yield when compared with MAS. The net impact was a wide divergence in operating profit: Air Asia recorded an operating margin of 20% while MAS reported a negative operating margin of 21% for the nine months ranging from July 2004 through March 2005.
Prior to MAS’ corporate restructuring exercise in 2006, Air Asia had little competition, and we believe the vastly inefficient and poorly capitalized MAS has made it easy for Air Asia to gain domestic and regional market share at the expense of MAS. We think the picture between the two carriers has changed dramatically since then, and MAS’ fortunes now appear to be rising at Air Asia’s expense. Our preferred aviation play in Malaysia is MAS, and we rate the stock Overweight with price target of RM7.00. We rate Air Asia Underweight and see fair value at RM1.20.
MAS versus Air Asia: Changing Fortunes
We highlight five reasons why we prefer MAS over Air Asia for the Malaysian aviation market.
I. Revenue Growth Strategy
For the past three years (2005-2007), Air Asia grew at an exceptional rate with RPK doubling to 9.86 billion and operating revenue rising 141% to RM1.6 billion at the end of June 2007. In contrast, RPK for Malaysia Airlines fell by 13% to 36.8 billion, but operating revenue rose 22% to RM14.9 billion at end of December 2007. In 2005, the domestic operation was part of the MAS network, but following a major corporate restructuring, the domestic operation was downsized. A significant portion of the domestic routes was transferred to Air Asia in 2006 as part of the government aviation policy of increasing competition. The growth comparison is also affected by the fiscal year changes – MAS changed its fiscal year to December from March in 2005, and Air Asia changed its fiscal year to December from June in 2007. Since we used an annualized 12-month period for our analysis, we think the fiscal year change should not affect the magnitude and direction of our analysis.
We think it is interesting to highlight that MAS was growing operating revenues by enhancing yield (indirectly higher fares) and other revenue sources, particularly cargo, while Air Asia grew its operating revenues sheer by an increase in passenger volume to gain market share.
MAS is expected to continue its steadily growth and path of growing RPK by 15% and operating revenues by 19%.
Malaysiaairlinesfamilies think MAS growth trend has got higher after the carrier took new delivery of its new A380 aircraft.
Of course, Air Asia or Group Tune Air would be recommending Air Asia to buy Tony Fernandez’s pipeline order of A380 aircraft to penetrate into Los Angeles routes competing painfully with MAS. That is what Tony Fernandez is all about in the aviation industry. All he cares is to KILL Malaysia Airlines just to save his stupid LOW CASTE Air Asia.
II. Operating and Pretax Margin Trends Over the 1995-97 period
MAS’ operating margin swung from a loss of 13.7% in F2005 to a profit of 3.0% in F2007. Air Asia’s operating margin declined from 14.1% in F2005 to 12.0% in F2007. The trend was similar for pretax margin. Air Asia’s declined to 17.3% in F2007 from 18.8% in F2005. The swing was more spectacular for MAS, rising from a loss of 13.3% in F2005 to a profit of 5.9% in F2007. A disciplined revenue growth strategy and tight control on operating costs led to the big earnings turnaround in MAS’ operation, and the operating margin gap between the two airlines has narrowed significantly since 2005.
The sharp divergence in operating and pretax margin performance between the two carriers should become more evident in the next two years. We expect Air Asia’s operating margin to rise to 19.4% in F2009 from 12.0% in F2007 but look for the pretax margin to drop further to 9.5% in F2009 from 17.3% in F2007. In contrast, we expect MAS to see an improvement in operating margin to 5.2% in F2009 from 3.0% in F2007 and anticipate a higher pretax margin of 6.4% versus 5.9%. While Air Asia will likely see pretax margin pressure from high net interest expense, MAS should benefit from net interest income primarily due to its huge net cash position.
III. Fuel Hedging Policy
We see a sharp contrast in fuel hedging strategies between the two airlines. MAS has adopted a conservative fuel hedging policy whereby it benchmarks its fuel hedging ratio against the average hedged ratio of its regional airline peers. The underlying fuel hedging philosophy is that MAS management does not want its airline operating performance to be significantly affected by volatile oil prices when compared to the other Asian airlines. In contrast, Air Asia takes directional bets on its oil position as part of its fuel hedging policy. In late 2007, Air Asia management sold call options at US$82.60/bbl for 150,000 barrels per month, and the call options will be triggered if WTI crude price averages US$90/bbl for the month. The premium from the call options was used to cover the insurance premium for buying puts at US$69/bbl and selling puts at US$55/bbl for 150,000 barrels per month.
While Air Asia management has effectively closed its directional oil position bet for 2008 by buying and selling more call/put options to neutralize the original fuel hedging contract position, the carrier still has directional bet for January 2009 to June 2010 call option position. If WTI oil prices stay above US$90/bbl during January 2009 and June 2010; the losses for Air Asia are likely to mount between the spot price and US$82.60/bbl. If oil prices trade substantially higher in the current environment due to the weak US$, we see an increasing risk that the derivative loss could be substantial, affecting both the operating and financial position of Air Asia.
Malaysiaairlinesfamilies believe the above is the cause of Air Asia being not sustainable as compared to Malaysia Airlines – the oil prices trade has increased the risk affecting both the operating and financial position of Air Asia which is why Air Asia needed desperately to cheat its customers and swindled the stupid fool in Khazanah – The Men-In-RED who holds the title with Stupid Fool (SF) Azman Mokhtar.
References can be found here;
MAS, however, does not have derivative exposure risk on its oil position. In F2008, the carrier has hedged 43% of its fuel requirement at the WTI crude oil price of US$89/bbl and another 13% at US$95/bbl for its fuel requirement in F2009.
IV. Financial Leverage
At the end of December 2007, net debt-to-equity for Air Asia was 158% (in June 2007, the gearing was 170%), whereas MAS had a net cash position. In F2009, we expect Air Asia’s leverage to rise to 227% as the carrier raises new borrowings to finance the aircraft acquisition.
However, we think shareholders’ equity for Air Asia is inflated with deferred income tax credits and the deferred losses from associates, and if we adjust the shareholders’ equity, the underlying net debt-to-equity for the carrier rises to 372%.
Despite the huge capital expenditure for the new aircraft order — MAS recently ordered 55 B737-800 aircraft for US$4.2 billion with 35 firm and 20 option – we forecast the carrier will still be in a net cash position in F2009, as the bulk of the capital expenditure will be incurred from F2010 onwards.
We believe MAS will raise debt capital in either 2009 or 2010 when capital market conditions are likely to be much improved from the tight liquidity credit crisis where funding costs have increased due to the rising credit default swap risks in the past months.
In contrast, Air Asia will have to raise RM2-3 billion a year for the next five years, and we estimate the carrier will need to raise RM2.8 billion for F2008.
Malaysiaairlinesfamilies saw as analyzed by Morgan & Stanley in 2008 where Air Asia needed to raise a minimum of RM2.8 revenue annually supposedly since F2008 to rescue Air Asia from Act 360 (Bankruptcy Act 1967); however it did not go well as expected due to fuel prices hiked unexpectedly where Air Asia in fact had declared losses consistently for two year from F2007 to F2008. The collaboration with MAS orchestrated by Air Asia was to have MAS profits siphoned out to save Air Asia which led MAS to declare for the first time in Malaysia industry; a mass record of RM2.52 billion loss.
All Air Asia and Group Tune Air board of directors had to have a backup plan saving Air Asia with reason to save themselves from conviction for Air Asia’s Bankruptcy incurring debt without reasonable ground of expectation of paying it.
Morgan & Stanley however think they favor MAS over Air Asia for 5 of the core reasons that included;
V. Relative Valuation
Perhaps the most important difference between the two carriers is the contrasting relative valuation. On franchise value, measured in EV/EBITDA, MAS trades at less than 1.0x compared with 11.5x for Air Asia. More interestingly, MAS’ net cash at RM4.4 billion at end of F2007 comprises about 73% of its current market capitalization of RM6.0 billion, which implies that the current franchise value is less than 1.0x its EBITDA (or cash flow).
Note – EV/EBITDA simply put by providing a simple, though incomplete, ratio of profit to value, EBITDA/EV is often used to estimate the cash return on an investment.
Morgan & Stanley is an international researcher for trading market etc. Even they understood Air Asia’s earnings are boosted by deferred income tax credit and contributed to an artificial strong balance sheet that again boosted by Tony Fernandez.
The public is not a fool and cannot be fooled; not for too long
Below is reply from Air Asia customers to Tony Fernandez above statement
The next remedy for saving Air Asia would be to conquer the Malaysia Aviation Industry by controlling the workers of the main Airlines in Malaysia i.e. Malaysia Airlines; Firefly; Air Asia and Malindo Airways.
Consequently the existence of the National Union for these airlines would save Air Asia but would kill the workers of Malaysia Airlines; Firefly and Malindo Airways. How could it happen? Stay tuned for our next episode.
Cheers from Malaysiaairlinesfamilies!
Behind NUFAM is Tony Fernandez. The evil man who instructed the stupid lipas man to organize against MAS workers burying the strong foothold for MAS cabin crew leaving them without the blanket.
NUFAM is brewing an alternative plan for Tony Fernandez to make his comeback avenging against MAS workers for having overthrown him out as MAS board of director. The evil plan designed for Mr. Lipas man is to execute via his recruited NUFAM soldiers disorganizing MAS cabin crew separating them into two group of workers as orchestrated by DON the willy old fox.
The question is how did the DON the willy old fox get involve in this organized crime? Perhaps it is just DON the hungry fox waiting in line to share a piece of the big fat pie.
DON, DON, DON, we have confirmation that your doctorate-ship is fake and was a purchased item. Isn’t that a crime to use a fake doctorate-ship certificate? Better run before the authority get into checking your background too.
For our readers information – Whilst Ahmad Jauhari is sleeping and forever in clueless state; DON become the consultant for NUFAM assisted by his right hand man – Mr. John Engkatasu. DON is seeking an alternate downgrade to become the next CEO of Malaysia Airlines forcing Ahmad Jauhari opting his early withdrawal from Malaysia Airlines. It’s all about power craziness now brewing inside MAS hottest pot.
As informed by our readers – Mr. John Engkatasu will be retiring in this year; however the DON is going to extend his retirement age to 80 years allowing him to screwing and brewing hot assess inside Malaysia Airlines.
Whilst DON is orchestrating the exit of strong foothold inside Malaysia Airlines that protect thousand of jobs for MAS workers; NUFAM on the other side is brewing poisons domestically and internationally with the advice provided by Zahrah the evil director of Human Resources. We are in the know Zahrah Zaid does not have a degree in Industrial Relation. At the time she had the interview with MAS recruitment department she simply said she has a background in Industrial Relation that fooled Malaysia Airlines management but approved personally by Tony Fernandez.
DON is the consultant whilst the ZORO Zahrah Zaid is the director for NUFAM’s every piece of action. The symphony orchestrated by NUFAM is going all out to bury the only in-house union paving ways for Tony Fernandez to crawl back slowly to MAS to save Air Asia. The training for more NUFAM combative is aggressively encouraged by Tony Fernandez with pennies compensating the time spent and the promising reward for Mr. Lipas man.
The manipulation of NUFAM election also very encouraged by both Maznah Mazlan and the paymaster. Look at this NUFAM “No-Secret” Ballot Paper.
Do we remember Mr. Lipas man is working for Tony Fernandez?
Even Tony Fernandez has left MAS as board of director – Mr. Lipas man is still very much intact communicating with him via the third-party and the sponsorship continues till this very day for NUFAM to execute Air Asia’s masterpiece plan to eat Malaysia Airlines burying it alive.
Mr. Lipas man is truly a man who screws many men’s wife and girlfriend too. However; does he also screw Maznah Mazlan for the approval of NUFAM certificate?
We are still investigating the new low-caste terms and conditions that has been laid down by Tony Fernandez for Mr. Lipas man to fool MAS cabin crew where NUFAM will change for greater heights. We have information NUFAM will metamorphose a lower package for cabin crew in Malaysia. Certain grade in Malaysia Airlines would be very happy as the budget for cabin crew would be reduced tremendously.
The initial planning for Air Asia to take over Malaysia Airlines was to sustain Air Asia’s survivability in this region. The proof of Air Asia in-sustainability rose in 2008 where the fiscal year earning dropped drastically (2 billion ringgit loss) complemented with lower revenue of less than 3 billion ringgit and higher debts of 7 billion ringgit.
Air Asia’s debt rose higher by a billion ringgit to 8 billion ringgit from 7 billion ringgit within a year’s window.
Air Asia’s cash flow badly managed since 2007. Henceforth; the only way is to have a bigger revenue corporate to bail out its bad balance sheet. During the share-swap with Malaysia Airlines in 2011; Air Asia’s cash flow suddenly increased to 2 billion ringgit whilst Malaysia Airlines declared a huge 2.52 billion ringgit loss. Air Asia subsequently has its assets increased to another 2.5 billion with its debts reduced substantially by 2 billion ringgit.
The cancellation of the share-swap demanded by MAS unions was to save Malaysia Airlines. We say well done MAS unions and the Prime Minister of Malaysia for saving Malaysia Airlines. The eminent impact on Air Asia after the share swap was cancelled by the Malaysian Prime Minister is the relocation of Air Asia’s headquarter to Indonesia for running away from paying taxes to Malaysian government.
Let’s hope Air Asia’s AOC will only be extended for another 6 months by DCA after March 2013 to prove more of Air Asia’s upcoming failure. Please stay tuned to Malaysiaairlinesfamilies for our next posting.
Tony Fernandez making a come back to Malaysia Airlines with the help of bent politicians and a few of MAS top management and workers – Part 4
Every step we made and every post we delivered on this topic had caught not just the nationwide attention; also the journalists from the international forums. We believe this topic isn’t any longer just a national issue for the Prime Minister of Malaysia to review the employment of GLC’s CEO who’s now patently a pure breed of MEN-IN-RED for AirAsia.
Taking the seriousness of the Breach Of Trust (BOT) conducted by its CEO in “Tarzanna” whose the managing director or you can call it “The AirAsia Orchestra group” playing AirAsia symphony louder than the thunderstorm these days crying for survivability in the dying hours of legislative hands.
The CEO also the Managing Director for TARZANNA is branded THE UNSCRUPULOUS AMOKH. Again he’s ignoring the Prime Minister’s way in managing the TARZANNA for the good of Malaysians. Lately, he is found quietly collaborating again with Tony Fernandez over the issue of MAHB – Malaysia Airport Holding Berhad. First it was MAS and AirAsia share swap smelly foot deals and now it could be AirAsia and MAHB share swap deals in the cooking pot by Amokh and Tony Fernandez.
An article written by ABITW here structurally making senses for all Malaysians to follow through and ponder;
Amokh ignores Najib as PRIME MINISTER with Syed Feisal’s appointment!
Is it more important for Amokh to please Tun Dol than Najib?
The business papers reported yesterday that Malaysia Airports Holding Berhad (MAHB) announced the appointment of brother to Tan Sri Syed Hamid Albar, Dato Syed Faisal Albar to be an Independent Director of MAHB.
This is fueling speculation that Tan Sri Bashir Ahmad will end his one year extension as Managing Dirrefctor and will be replaced by Syed Faisal.
The name Syed Faisal is sickening to the stomach. It reminded us of his arrogant and incompetence Arab tak sedar diri brother, Syed Hamid during the reign of terror of Tun Abdullah Ahmad Badawi. He lost Batu Putih island to Singapore and interfere to apply ISA on a reporter.
Syed Feisal is himself of questionable integrity and capability.
Doesn’t Khazanah Nasional CEO, Tan Sri Azman Mokhtar realised that he is not working for Tun Abdullah Ahmad Badawi any more?
Thus, why is he still bringing people that was part of the evil triumvirate of Kalimullah-Kamaluddin-Khary into important position? Or is this Tan Sri Nor Mohamad Yakcop in his elements?
An incompetent legacy of the ERA;
Since Tun Dol resigned, this is not the first time Amokh is sticking to the cronies of the old regime that wrecked havoc to the Malaysian aviation industry. It is now left to Najib to put the pieces together and attempt a turnaround of MAS.
Amokh had engineered a heavily lop-sided “merger” between MAS and Air Asia that favour of Tony Fernandez-led Air Asia.
Air Asia was a beneficiary of crony capitalism involving Khairy and Dato Zaki Zahid who together with Tony F redid the cabinet-approved National Airline Rationalisation plan. By the following Monday, Tun Dol announced a different plan on the instruction of Khairy and Zaki.
Despite that move resulted in Air Asia taking over MAS routes and Amokh claimed he fought tooth and nail with Tony F for constantly “sailang” MAS, the MAS-Air Asia “merger” only indicate Amokh have a problem realising that the Prime Minister is no more Tun Dol but Dato Najib.
The fact that Dato Najib has set the precedent at IMDB to only bring in professionals and capable people on the Board of Directors and management, it raises issue on Amokh’s tendency to bring in his cronies, particularly incompetent ones.
In the MAS-Air Asia “merger” he gave his partner in their firm Bina Fikir, Danny Yusof that failed in the WAU exercise of MAS, a leading role.
Amokh kept his failed MCKK classmate, Dato Harun Johari who repeated his failure at Iskandar Regional Development Authority (IRDA) to Khazanah new start-up involving agriculture. Even in area of logistic which is supposed to be his core competency at Shell, Harun failed also.
There are also failures retained as Executives Directors Amokh One is Tengku Dato Azmil who failed at MAS. Then there is Hisham Hamdan, the former Sime Darby’s executive who bombed in the privatisation of IJN and Qatar deal.
Syed Feisal and the evil Kalimullah in their heydays under Tun Dol regime
With regard to the new appointment at MAHB, Syed Faisal is not politically and capability wise appropriate. He still remain within Kalimullah’s circle of evil.
Despite New Straits Times withdrawing their lawsuit against blogger and former Malay Mail editor, Dato Ahiruddin Attan@ Rockybru, Syed Faisal remain with opposition backing The Malaysian Insider (TMI) owner, Kalimullah in their lawsuit against Rocky.
For an opposition backing portal, TMI still provide space for Tun Dol, Khairy and those within the Kalimullah-Kamaluddin-Khairy triumvirate.
Najib is quite aware and Raja Petra’s Wikileak expose that reported Singapore believed Najib and Rosmah involvement in the murder of Altantunya and it can only speculated their intelligence operative, Kalimullah fed them with such information.
There are sources believing that Kalimullah was not merely feeding Singapore’s intel but was instrumental in masterminding the frameup of Najib and Rosmah together with political personalities in the opposition and in UMNO.
Many things ain’t right about him…something is not right about the Syed Feisal’s expected appointment as CEO.
“It is a mystery why Khazanah Holdngs Bhd appointed a corporate has-been like Syed Faisal into Malaysia Airports. He did fairly when he was the CEO of NTSP Bhd. Then he joined Pos Malaysia Bhd. However, when DRB-Hicom took over Pos Malaysia, Syed Faisal was not retained.
Its a demonstration that Syed Faisal is not recognized as a corporate-wizard by Tan Sri Syed Mokhtar Al Bukhary.
The Sun Biz story is right. Why would Tan Sri Azman Mokhtar appoint a corporate has been like Syed Faisal, who has no relevant experience in airport operations or airlines into Malaysia Airports?
Unless, there is something non kosher in the play.”
Claiming to be at odd with Tony Fernandez, but wants to be in same bed
There are several suspicions that Amokh wants to oust Bashir out for several reasons.
One, Amokh is still in co-hort with Tony F, who has been having a war of words with Bashir on Airport tax and other issues. The mother fucker cannot get his way with other airports in the region so there is no reason why MAHB should succumb to his ranting.
Two, Amokh could be subtly collaborating to sabotage a Najib-endorsed initiative, Malindo Airways that serve to counter Tony Fernandez’s threat and sabotage attempt on KLIA2 and is a win-win partnership between Malaysian and Indonesian interests.
Thirdly, placing Syed Faisal as CEO would help Tony F fulfill his dream of building and managing his own dream Airport complex and “steal” revenue away from MAHB.
Fourth, if not, Syed Feisal would oblige to allow Tony Fernandez to build his Sepang headquarter taller than the airport control tower so that Air Asia can stand out their brand and a safety hazard.
Fifth, it is no secret that Azman wants Khazanah to be in the same bed with Tony Fernandez.
By this appointment, Amokh is ignoring the PM’s wishes to move up in the learning curve in the area of corporate governance as set at IMDB.
He continues with his cronyism practices by appointing those with personal links to himself, particularly his MCKK Alma Mater or those linked to the Tun Dol regime.
Not only that, he maintain a closed guarded secret fraternity of management, incompetents from outside Khazanah and con-sultans in the same manner as the “skull and dagger” fraternity of George Bush’s Delta Kappa Epsilon fraternity at Yale University.
Is Amokh sabotaging the Government to help Pakatan Rakyat takeover?
If he is, then Amokh should be swiftly removed even before general election is over and sent back to UBS to do dog shit analysis of stocks.
Malaysiaairlinesfamiliessay the Prime Minister must end this pain that causes by the unscrupulous corporate figures orchestrated by Tony Fernandez and the AMOKH.
The MACC should also be investigating on why AMOKH has Tony Fernandez in his best interest. Mr. Prime Minister, it’s urgent to rid off the moles inside your camps – it’s your judgment calls Mr. Prime Minister.
Do stay tuned to malaysiaairlinesfamilies for more update on how AirAsia scams its passengers?
IPO stands for initial public offering and occurs when a company first sells its shares to the public.
An IPO or Initial Public Offering occurs when a private company such as AirAsia offers up shares of its company for sale to the public, who by purchasing those shares own a piece of the company. Small private companies with yearly revenue of less than RM4 billion carry out IPOs to raise capital for growth and expansion, while well-established private companies have IPOs to become publicly traded and even bigger. For example when Rupert Murdoch’s News Corporation went public, it sold about a 19% stake of the company to raise almost $3 billion.
This really means AirAsia intends to raise at least billions of ringgit to settle its soft loan taken from CIMB. Rumour also has it AirAsia is given time to improve its Flight Operatives and safety performance by Department of Civil Aviation Malaysia till March 2013!!!
Can it be so coincidence or perhaps Tony Fernandez needs a huge instant capital to settle his on going huge court cases???
The rich knight – Sir Richard Branson has already dumped 10% of AirAsia shares – the only reason he knows to himself why he left AirAsia and a while later – Tony Fucker came out with ideas to launch IPO spree for AirAsia!
We knew something is boiling with the hush-hush plans by Tony Fernandez. We also heard a movie is ongoing – “A sugar and a trump” for telling another lies to the public about the already damaged reputation of Tony Fernandez.
Ah…..we don’t believe DCA would have suspended AirAsia even though its flight operatives is not updated or has improved; but we do believe DCA can be easily bought with a certain percentage of shares and some goodies that comes with privileges from AirAsia. Nah…fooling the public DCA is the hero???
Everyone know they were the cause to all the problems where being the safety guardian that’s condoning AirAsia’s current safety standards particularly ignoring the fact on its Pilot and cabin crew have been exhausted without proper regulation because of DCA’s good jobs. Check up our next post about how Lipas man was asked to meet with Director General of DCA at this time by Tony Fernandez – it’s only the showtime!!! They’re all belong to the same gang of AirAsia – tried playing opera games in the eyes of the public!!!
It’s an obvious strategy for AirAsia X to compete with Malindo Air.
Those investors who buy a company’s shares would also buy a piece of ownership in the company for a chance to benefit from its future profits. For the owners of a company, it means giving up some control depending on what percentage of the company is sold, opening the company up to public and government scrutiny, and being accountable to shareholders.
Yee hah….this is how AirAsia can be collapsed very easily!!! What goes around is now coming around for Tony Fernandez.
When AirAsia decides to offer an IPO, it hires an underwriting company or companies which are usually investment banks that take on the task of researching the company about to go public, marketing the company and ultimately issuing and selling stock. In this event, AirAsia has CIMB as its underwriting company.
Once the underwriters have completed their research they take the company they are about to sell on a road show of presentations and sales spins to convince institutional investors and analysts to buy into the IPO. These large investors and not individuals are the ones who will do most of the buying and raise the company the most money. It is therefore no accident that average Joes are not invited to participate in an IPO before the first day of trading.
After all the hype and publicity, AirAsia will choose a date for the IPO offering which also means the public will be buying higher than that average Joes. The shares are usually offered to institutional investors and big buyers through an auction process.
After this, trading takes place for the first time on the open stock market at a starting price decided as the issue price. Depending on how well the first day of trading goes the company is able to meet its initial projections of how much capital it is expected to raise. According to CIMB; AirAsia would start RM3.51 even though its actual par value is only RM0.351 cents or based on it’s current share prices below RM3.10
Not all experts agree that investing in IPOs for individual investors is such a good idea. One reason is because individuals are encouraged to hold onto their stock for at least a month before selling, unlike institutional investors who can buy and sell whenever they want. Because of the hype surrounding an IPO, the stock price usually rises heavily in the first few days of trading and then tapers off or even falls. At the initial stage, the institutional investors can move in and out and make a killing.
Unfortunately for AirAsia’s cases; the buyers are expected to only “can” sell its shares after one year of holding if lucky and if unlucky; the buyers would need to hold it longer and may suffer after Malindo Air takes over AirAsia.
For the individual investor, especially one interested in investing for the long term, the best time to buy is not necessarily at the IPO stage but when the excitement has waned off and the price has fallen. A month or two later will be just as fine. Of course there are rare exceptions.
You can find more information about IPOs, particularly why investors have difficulty getting shares in an IPO, the pricing differences between the IPO and secondary market trading, abrokerage firm’s IPO eligibility requirements, IPO’s, and Lockup Agreements.
Stay tuned to be informative via malaysiaairlinesfamilies!
We’re currently monitoring Ahmad Jauhari’s next move to terminate 5000 MAS workers not sparing any of its world renowned best cabin crew and best engineering workers. We won’t be surprise if MAS Pilot would not be spared in this killings too!!! Is MAS Unions and Associations still in sleeping mode?
Tony Fernandes making a comeback to Malaysia Airlines with the help of bent politicians and a few of MAS top management and workers – Part 3
Is the Men-in-Red in Khazanah are that stupefied or just pea-brained? Today we’re gonna exposed the mastermind behind Khazanah forming the stupefying strategy for Malaysia Government Linked Companies.
Last month, Tun Mahathir refreshed the public of the main function of Khazanah for the country and argued the rights of the majority whom are bumiputera – the Malays must be taken good care of. We sticked our nose in this argument and unfolded some grave robbery is cooking inside Khazanah for Malaysia Airlines.
As it is already an injured airlines still under recuperating from the aftermath of gang-raped by Tony Fernandez and his gangsters of RM2.52 billion during the share swap and collaboration with AirAsia; this time another grave robbery may be taking place conceivably after the next 13th General Election.
Who is the mastermind and how’s this grave robbery going to be carried out?
Deng…deng…it’s the advisor for Malaysia Airlines. This greedy pig is still holding the baton of the main premiership function although he already stepped down. This Scooby-doo needs supplementary income to supply more diapers for his napping habits during the meetings and anywhere he goes.
We have discovered the grave robbery planners are the Men-In-Red from Khazanah who’s been ordering Ahmad Jauhari – the clueless CEO of Malaysia Airlines to stall all development for Malaysia Airlines particularly the joining of OneWORLD as full membership that supposedly takes effect this month November 2012. The stalling is to push it to next year March 2013 whilst molding Malaysia Airlines losing at least RM5 million a day.
For the public information, MAS is truly losing RM5 million each day whilst under Ahmed Faraway – The Clueless CEO of the centennial.
If Malaysia Airlines lost RM5 million a day; it will be estimated a loss of RM150 millions per month. Calculating the amount that MAS is losing since last September until March 2013; it would be around RM1 billion of loss.
We believe Ahmad Jauhari is our faithful blog follower. After our last posting here; Ahmad Jauhari quickly covered his stalling plan for Malaysia Airlines by announcing to MAS workers the date of joining OneWORLD alliance is 1st February 2013. (Thanks to our readers for this information!) So we know what you did last summer!
Why is this happening? As being speculated before; The Scooby-doo needs more supply for his diapers and perhaps he wanted a gold diaper for himself.
During his premiership; he had his son and his son-in-law controlling GLCs’ contracts where majority of lucrative contracts were from Malaysia Airlines. One of the largest deal the Scooby-doo had was the catering contracts. The same way it’s gonna happened to Malaysia Airlines and the history is about to be repeated again. MAS Catering was sold to his brother – the contractor for RM30 million and his brother resold it to LSG Sky Chef for RM1 billion.
Are you guys following? Now what is going to happen to Malaysia Airlines? The stalling of recovery plans by Ahmad Jauhari is for Tony Fernandez to accumulate sufficient capital to buy over the pieces of Malaysia Airlines after Khazanah shattered MAS for auctioning.
For now, Tony Fernandez has maxed up loans for AirAsia in Malaysia and his next move is to pursue the IPO spree by March 2013 before the next GE. His PLAN C? For all IPO launched by 2013, AirAsia will generate an estimated return on invested capital (ROIC) of RM1 billion.
We know Tony Fernandez had hard time securing even a meeting with Malindo Air. This IPO spree is a preparation for Tony Fernandez to buy over Malaysia Airlines after Khazanah declare bankruptcy on Malaysia Airlines next year. So Malaysia Airline will be swimming into Chapter 11 under the current CLUELESS leadership of Ahmed Faraway.
Although we do not idolize Tun Mahathir of his works but we realize what he preached on the direction where Khazanah is deviating now that is to destroy all Malay Businessmen paving the opportunity for foreigners to climb the ladder higher and be richer than the bumiputera – the Malays. We know Khazanah is supporting Tony Fernandez behind the curtain. Why Khazanah is selective and supportive of Tony Fernandez?
Well! The former premier; we mean the Scooby-doo that wears diaper to a meeting so that he can nap in the meeting too has close relationship with Tony Fernandez. Between his son and especially his son-in-law (KiloJoules) is very close buddy to Tony Fernandez.
So precisely, KiloJoules and the former premier are all AirAsia proxies. Didn’t we get it right? They are both fans of soccers – sharing same interests “footballs and young pretty girls” and connecting all the times.
In reality, today Khazanah is moving on its own way and not the present Prime Minister or the Najib’s way.
One of the excuses given by Khazanah is that Malaysia Airlines is losing RM5 million per day and that will be approximately a RM150 million per month. Therefore, Khazanah may declare Malaysia Airlines “BANKRUPT” if they can’t find any alternative to restore it with the way its current management handling the routine businesses especially most of the managerial levels are pea-brained, sleepy-head and blind-judges.
This way, it is easy than retrenchment on all Malaysia Airlines workers including the culprit assignment leaders – Ahmad Jauhari the CLUELESS, Zahrah Zaid the LIAR and Azhari Dahlan the CROOKED BOTAK HEAD where Malaysia Airlines does not have to pay a single penny to all workers upon declaring BANKRUPTCY.
This bankruptcy planning employ for Malaysia Airlines will be that similar to JAL restructuring plans where all workers were slashed of jobs opportunity and restarted with fresh employment with lower terms and conditions.
The CROOKED BOTAK HEAD has tendered his resignation but pulled back his resignation letter after he received one phone call from Ahmed Faraway – the clueless man who’s gonna declare Malaysia Airlines bankrupt by 2013 before Malaysia Airlines successfully join OneWORLD. Where is the integrity of Azhari Dahlan? Being a real gentleman; one would not pull back the decision he had made. Perhaps, he’s sissy after all.
We have also investigated inside Khazanah there’s a bunch of politicians cooking their political plans against the Prime Minister by quietly setting up the exit plan (in case BN don’t win and they don’t have jobs with Khazanah) by hiking up the sale on Malaysia Airlines to RM24 billion.
We have one very stupefying question for the stupefier in charge – Who’s that stupid to buy MAS for RM24 billion?
In actuality, the hiking of sale prices is to avoid those interested investors from successfully taking over Malaysia Airlines. Many interested investors believe Malaysia Airlines is making huge profits. The only problem is Malaysia Airlines is handled by the CLUELESS and PEA-BRAINED Ahmad Jauhari and his trio CULPRITS. These investors are interested to buy over the whole Malaysia Airlines to save the workers and the future of Malaysia Airlines.
malaysiaairlinesfamilies feel the powerful MAS Unions have been keeping quiet about this whole shebang. WHY? Is the current MASEU’s leaderships truly questionable? Or have they lost their BALLS already? If MAS Unions are keeping quiet; we’ll gonna kick all of your asses. So we’re watching your asses too yeah!!!
Unfortunately, the plan for bankrupting Malaysia Airlines by Khazanah “MEN-IN-RED” is to break up MAS into pieces where the MEN-IN-RED supposedly assigned to save Malaysia Airlines will save themselves a piece of MAS. We mean Tony will get MAS MAE, someone will own MAS MRO and sell services to Tony…etc.
We in malaysiaairlinesfamilies do not and never agree to see this group inside Malaysia Airlines and we believe they are the moles for AirAsia Tony Fernandez and we welcome any moves to remove these moles from our beloved National Carrier.
They should’ve left Malaysia Airlines when Tony Fernandez graciously resigned from MAS board of directors. Thick skin and greedy faces full of moles on their face showing their hidden agendas have not been accomplished yet. We know you moles are spying for AirAsia Tony Fernandez.
Ahmad Jauhari was from Malakoff, Azhari Dahlan was from AirAsia and Zahrah Zaid was from Danone. These combinations are excellent ingredients to destroy Malaysia Airlines. In Malakoff, Ahmad Jauhari successfully terminated 1000 workers out of 1,500 workers. In Malaysia Airlines, his main function is to terminate 2/3 of the workforce but was unsuccessful and protested by the powerful MAS Unions.
So Ahmad Jauhari chopped off MAS flights and frequencies to collide with Tony Fernandez on AirAsia flight schedules assisting AirAsia continuously making profits with the help of the bent politicians and MAS dumbos who happened to be a few of the Union leaders and representatives.
Azhari Mohd Dahlan when was in AirAsia was the caused to the March 2010 mishaps that resulted to Tony Fernandez heavily paid out a huge compensation to the survivors. The moment he stepped inside Malaysia Airlines, he sabotaged MAS commercial planes with broken engines that was on fire during cruising into London and turned back a couple of hours after the Jumbo aircraft took-off. He could have been behind another flight into Chennai to scare away MAS loyal customers.
For Zahrah Zaid, we know who you are – the liar who holds strong belief in disharmony to break up the strong voices of workers. That was what she is capable of when she was in Danone. We unfolded a few of her pasts whilst she was still with Danone. It seemed Danone workers were never been in peace the day she landed in Danone. We believe MAS workers may have been experiencing the same NO PEACE working ambience in Malaysia Airlines.
The only persons who can save Malaysia Airlines from Bankruptcy are Tun Mahathir Mohamad and the Prime Minister of Malaysia YAB Dato Seri Najib Razak.
We urge the Prime Minister and Tun Mahathir to immediately take effective measures to save Malaysia Airlines from entering into Chapter 11.
Next post, we’re gonna exposed what Dr. Don is up to. It looks like we’ve made mistakes for introducing him as MAS board of director. Stay tuned with malaysiaairlinesfamilies.
Tony Fernandes making a comeback to MAS with the help of bent politicians and a few of MAS workers – Part 1
The well-written article from Another Brick in the Wall crowning moment of Tony Fernandez’s next agenda for Malaysia Airlines.
Khairy will be used by Tony Fernandez in his AirAsia planning for his comeback to MAS avenging his failure against MAS Unions that got him resigned as MAS Board of Director.
The image of Tony Fernandez to the Malaysian public is that of someone able to talk back to authority, those in power, and make disturbing accusation of incumbent national airline, Malaysia Airlines.
Several months ago when he was embarassed by the reversal of MAS-Air Asia collaboration, he kept his macho composure to announce he is leaving for greener pasture of Indonesia and continued his fight with Malaysia Airports.
After the announcement of new Malindo Airlines [read here], he continued his libido-filled talk.
Tony Fernandez sure gave us the impression that he’s got a dong the size of his arm and able to outlast the “kelipatan orgasme” (by the way, thats an Indonesian terminology) of several partners.
Unfortunately, he disappointed Malaysia when he acknowledged to VIVANews Indonesia that he has a problem of “lemahnya penetrasi” (weak penetration) [read it here.].
|“After this, we’ll have your choicest stewardesses. Bring Khairy along!”|
Never mind the fact that back in the time of Pak Lah’s administration, Tony Fernandez had powerful people backing him from behind. The public will not know and do not care for any of these inside stories.
They are too kiasu to only be bothered about being abused and humiliated by Air Asia as long as they get cheap fares. They are willing to worship Tony Fernandez as the Indian tokong (the Chinese tokong being Lim Guan Eng) even if he conned them with his surcharges and ad hocrules.
When Tony Fernandez announced he was leaving for Indonesia, this blog did forewarned that he will not have it easy with the proud but unpredictable Indonesian authority. [Read Solopos here.]
He is not in Malaysia during the time of slumberjack where he had many inside the corridors of power to strong arm MAS to giveaway routes. In Indonesia, it is not as easy as he think it is to do quick expansion. [Read here.]
The entreprenuer he is, Tony Fernandez did not take it laying down and ask for Government help as compared to other Bumiputera professional managers or entrepreneurs he lambasted before. Off course, the public took his cock talk hook, line and sinker, without knowing that Tony Fernandez got Air Asia on a silver platter and it benefited from tax break and subsidies too!
|Tony F attempt to solve penetration problem by “embracing” Batavia Air|
He immediately addressed his “masaalah penetrasi” (penetration problem) by announcing the takeover of Batavia Air at the end of July. The Asian Edition of the Wall Street Journal here reported:
AirAsia will buy a 49% stake in closely held Batavia Air, while AirAsia’s local partner, PT Fersindo Nusaperkasa, will purchase the remaining 51%, with both deals totaling about $80 million. Foreign companies are only allowed to own as much as 49% of an Indonesian airline. Batavia Air is one of the largest airlines in Indonesia, with an 11% market share for domestic flights.
In Malaysia, Air Asia issued a statement and Sin Chew here reported the Bernama report as a 76% takeover. Read below:
… AirAsia Investment Ltd (of Indonesia), has signed an agreement with its partner, PT Fersindo Nusaperkasa, to acquire PT Metro Batavia, which operates Batavia Air and Aero Flyer Institute (AFI), an aviation training school.
The tripartite agreement was signed in Jakarta today between AAB, Fersindo and Metro Batavia.
The acquisition of 100 per cent interests in Metro Batavia by AAB and Fersindo will be executed in two stages, through acquisition of a majority 76.95 per cent stake and subsequently followed by the remaining 23.05 per cent held by its existing shareholders.
Air Asia has only 8 planes for the domestic Indonesian market and the acquisition increase the combined capacity “to fly to over 14 million passengers and serve 42 Indonesian and 12 international destinations.”
But still, Batavia is a smallish Airline in the highly competitive Indonesian market dominated by Garuda and it’s LCC, Citilink with a combines market share of 27% and it’s leading LCC, Lion Air with 51% market share the Indonesian market share.
|Since Monday, Tony F’s balls shriveled and shaft shortened, and had to talk dirty to get arousal|
Where Air Asia is all Airbus and known for their large order Airbus, Lion Air is all Boeings and has a USD21.5 billion deal for 230 Boeings 737 to add to their existing fleet of 92. Their order book is 400 airplanes.
Tony F claimed Air Asia is ready to take on new rival Malindo Airways. [Read NST here]
However, he made some arrogant remarks that was negatively reported by the Indonesian media. [Read VIVANews here.]
Although he is seldom pictured with his pretty stewardess, his reaction seemed typical of one sexually deprived bloke. Tony was sending out nasty SMSes and talking dirty about Lion Air’s IPO delay, safety issue few years ago due to a crash, their pending IATA membership and even cursing at Prime Minister Dato Najib.
It turns out that this dirty talks is not to arouse his partner or himself but to cover his shortcomings.
|This doesn’t solve weak penetration
It is noticeable that his balls shriveled since Monday, the day Dato Najib himself launched the NADI-Lion Air initiative. He knows the tie-up between NADI and Lion Air had strategic and competitive values.
Lion Air has planes. NADI has engineering strength from close link with TUDM and Boeing Lockheed MROs capabilities i.e.something Air Asia had always wanted.
The new airline could solve issues faced by Lion Air and the KLIA2 problem created by Tony F’s cockiness and arrogance. Looks like Lim Guan Eng got his cockiness and arrogance from Tony Fernandez.
There will be traffic going to the KLIA he planned to sabotage. If Malaysia Airport can deliver and at the same time promote themselves in the competitive regional airport market, more Airlines will take a look at Sepang.
With all these assistance to Government, he will move lower than Malindo in the take-off pecking order.
Tony Fernandez also realised he has gone overboard with his boasting to the highly nationalistic Indonesian as he spin Malindo’s entry will eased invasion of Malaysia. [Read Detiknews here].
He had just been taught another lesson from the Indonesian as in who is the boss. The Indonesian threatened to stop the Batavia Air deal and forced him to disclose ownership structure. Only in late August did he get clearance. [Read Wall Street Journal Asian edition here.]
|Mile High or syok sendiri-sendiri?|
He tried to please himself with a masturbation that it will hurt MAS more than Air Asia. Who is he trying to fool?
Lion Air can bring air traffic to KLIA and it will have a secondary benefit to MAS and also Air Asia.
In today’s aviation where connectivity is of strategic importance, MAS and Lion Air has that advantage. MAS will be a member of OneWorld and has 60 code-sharing arrangements.
Lion Air with their Boeings has medium and long haul routes and planned for digital connectivity.
On this, Air Asia failed to score. They have no connectivity.
This news and Tony Fernandez’s overweight problem also made his shaft shortened. He now realised that he was given a lesson by Malaysia Airport and the Government as in who is the boss now back home.
Malaysiaairlinesfamilies comment there’s always something hiding behind the FAT TONY BASTARD FERNANDEZ’s sleazy face and low class mentality.
Unless he supports Pakatan Rakyat, he has no Government to arm twist others for him.
|Zany Branson left Tony|
His own mentor, Sir Richard Branson bailed out on him.
Many believed Branson realised that AirAsia has insufficient fund to pay back the down-payment of large aircraft orders that was last made by Tony Fernandez in Paris in 2011.
The yearly revenue AirAsia-Malaysia has been making is only RM4 billions (USD1.2 billions) and the accumulative debts is currently estimated at RM57 billions (USD19 billions).
Tony Fernandez will need 19 years to repay back his loan to CIMB and clear all debts, thus the collaboration with MAS.
Anyway he had his fun with Branson and his zany lifestyle.
|Tony F could be saying, “None of those kind of jobs, okay Aireen?”|
Everyone reading this posting should be able to figure out why Tony Fernandez sent Aireen Omar yesterday to make a statement that Air Asia and MAHB is working together to make KLIA2 a success. [Read The Starhere]
Surely the photogenically cute CEO is not at the Malaysia Airport office to give a hand job or job for other facial part/(s) to airport officials.
Air Asia has not put in place any plans to move when KLIA2 begin operations in May 2013 but Malindo already announced operations to coincide with the new airport. [Read The Star here.]
Tony Fernandez seemed worried of being f^cked for next year.
He should because there are those that believed he has been having secret meetings with repeatitive sodomy offender and defender of the sickening LGBT lifestyle, Dato Seri Anwar Ibrahim. [Read MAS Families blog here.]
Now… which one is Tony Fernandez’s priority; cashcow Kuala Lumpur or future growth Jakarta?
Since Tony Fernandez is applying a permanent resident status in Indonesia, it should be Jakarta. So he better rid off his pretentious British accented English that still does not hide his Indian side of the family.
To live in Indonesia, he needs to brush up on his Bahasa Indonesia. When you say needs in Bahasa Indonesia, don’t say “perlu” like inBahasa Malaysia. The Indonesian might look at him and say, “butoh!“
Just to correct him – from Another Brick In The Wall.
On Malaysiaairlinesfamilies’ wall, we have found out a group of MAFAA and AMALAE have been collaborated secretly with Tony Fernandez to initiate another opportunity entering into Malaysia Airlines again making Tony Fernandez’s another comeback. The group is bought to deliver a karate kick on all MAS board of directors and those stakeholders such like MAS Unions whom ruled out not in favor of Tony Fernandez’s Danny Rashdan.
Who screwed Malaysia Airlines? It’s the BABI man behind it but the tax payers did not stop blaming the Men In Black in Khazanah too!!!
Please reinstate Firefly Jet Operations and kick OUT Tony Fernandez and Maznah Mazlan who sabotaging Malaysia Airlines and Firefly
Once upon a time, a group of MAS Cabin Crew a.k.a. NON UNION FLIGHT ATTENDANT for MAS was officially registered and approved by Maznah Mazlan from the UMNO wing who holds the position of Deputy Minister of Human Resource (Human Remains).
She is sanctioned by the Evil Kutty’s feeble-minded son “Mukhriz” under the specific directive from Tony Fernandez of AirAsia. Among this unscrupulous group and its partisans – the gangster Flight Attendants, a relative of Maznah Mazlan who’s one of MAS cabin crew has been involved in feeding an impartial lopsided information that filled of vengeance to the Ministry of HUMAN REMAINS to overthrow all MAS Unions and Malaysia Airlines operations centre.
Thanks to the cougar Minister and her stupidity along with her lopsided judgment for having created NUFAM to screw Malaysians Cabin Crew and soon the same fate would bestow upon AirAsia Cabin Crew !
NUFAM was planned prior to the share swap deal after a series of secret rendezvous between Tony Fernandez and the head of MAFAA – Ismail Nasarudin a.k.a. THE LIPAS MAN (in this picture).
The LIPAS man is smiling as his pocket grows fatter and fatter after some gullible Cabin Crew filled HUNDREDS of RINGGIT into Ismail Nasarudin’s personal banking account!
The LIPAS man says “Thank you for paying my expenses STUPID AirAsia CABIN CREW”
We believe Tony Fernandez’s informal hush-hush meeting with Anwar Ibrahim that was arranged by the big boy Bashah Aziz were to discuss on how to break up UMNO using UMNO to kill UMNO in the next upcoming PRU-13 election.
These crooks in NUFAM were thinking by getting close to Tony Fernandez, they could have been promoted to managers BUT they did not realize Tony Fernandez is very capable in using MAS Cabin Crew to kill each other just like how Tony did to the Prime Minister with the help of Anwar Ibrahim.
The share swap deal was one of the strategies used to annihilate the UMNO group doctrine-d by Evil Kutty. It was a suicidal planning for UMNO to have allowed AirAsia corporate espionages stepped inside Malaysia Airlines as it is the initial phase of UMNO destruction.
Guessing Evil Kutty is still crazy to be in power even after he stepped down from all government posts. Greedy senile old Evil Kutty can never rest until he is sure his son with feeble-minded Mukhriz is set to be our future Prime Minister. Holding a post in the Ministry of Finance is equally entitled an individual to be the next Prime Minister of Malaysia. So all Malaysians must pray hard that Mukhriz will not win the next election.
Malaysians must unite to vote wisely for the right people to stay in the Parliament. We do not believe Anwar Ibrahim should be made the next Prime Minister because he had been planning the killing of UMNO group using UMNO’s Evil Kutty and Tony Fernandez. Not forgetting the link connected by the big boy Bashah Aziz linking the D_ _ in the involvement of such arrangement that resorted to the share swap deal being dodged by the Men In the Black suit.
MAS recently has been awarded as the best cabin crew. Understandably, it must be hard being accepted by Tony Fernandez. Hard broken and shattered all over the island of Indonesia we presume?
Well……the only way to shatter MAS Cabin Crew from being the best and world renowned cabin crew is to break them up splitting into “disgruntled worker filled with anger” by the work of NUFAM. Don’t you think so Mr. Ahmad Jauhari?
Here’s how NUFAM strategizes it in Malaysia Airlines WITH an open forum moderated by a Lady Gangster – Yusniza Yusof instructed by the Lipas man. It’s a common sense that via this forum can there be loads of malicious, bitterness and spitefulness that can be as cancerous as venom to pollute MAS cabin crew. NUFAM is to disorganize Malaysia Airlines and to back up AirAsia Corporate Espionages – Azhari Dahlan and Aminudin Zakaria to sign out MAE to AirAsia’s proxies.
Well stated NUFAM crooks!!! Your meaning of eradicating job victimization and to help elevate the profession to the highest level with the Government must be “To eradicate the rights to have a decent employment with Malaysia Airlines by adopting a shorter term of employment – Early Retirement Cabin Crew Posts where possible promotion for MAS cabin crew climbing ladder with the UMNO group scheming to gradually taking over the government position”. Now NUFAM wanna take over MAS unions and in the future, they wanna take over the GOVERNMENT??? You gotta be kidding!!!
So who’s that lady “Gangster” the moderator for NUFAM open FORUM?
We had some people monitoring her movement recently and it looks like she is good at performing a lip massage service for the Lipas man. Pardon us in Malaysiairlinesfamilies for our transparency. Well…….try picturing what we meant!!!
Back to AirAsia Corporate Espionages that are Azhari Dahlan and Aminudin Zakaria; they must tender their resignation with Malaysia Airlines immediately or you will face our wrath in exposing your unscrupulous “signing of MAS contracts” to the world.
The UMNO group must wake up and read this loud and clear message; we meant business and here’s one strong voice from this BOLEH-LAND;
“There are reports that TF (F***king Thief) is plotting to make a comeback to destroy MAS. This time even more severe to revenge against the employees who have successfully (through their unions) forced him to abort his grand plan of taking over MAS and dishonourably showed him the exist. He is cock-sure that BN will retain Putra Jaya after GE13 for him to make the comeback. He though by diverting to Jakarta, he could hide his evil skin but the Indonesian LCCs namely Lion Air, Srivijaya Air, Mandala and many others have vowed to discipline him and will make sure he could not do what he has been doing at this whim and fancy in Bolihland be repeated in Indonesia. He could get away with all his nonsense only in Bolihland because some evil puppet masters are behind him. That is why even MAHB could not discipline him but not the Indonesians who are waiting for him to make the first move. Hopefully if PR took control, will this pest be got rid off for good.”
If the Prime Minister of Malaysia can cancel away the share swap deal, can he also authorize for the arrest of TF and gangsters/partisans? YES, we believe the Prime Minister can do by overruling the senile Evil Kutty and stop protecting the wrong-doers from continuously campaigning aggressively against UMNO.
How can your supporters back you up if you condoned wrong-doings in this bolihland?
We’ll be back on our next episode FOR Tony Fernandez’s laundering money businesses and more STORIES on NUFAM’s gangster flight attendants. Stay informed with Malaysiaairlinesfamilies.
It was a bad tribute to the Olympic Games 2012 cause A BIG FAT GREEDY PIG was seen carrying the Olympic torch. It was a moment of WORLD’s TRAGEDY when we saw the Olympic torch was carried by a famous UGLY Pirate from Air Asia whose a.k.a. THE STINKY BIG FAT LIAR and his name is Tony Fernandez from Air Asia.
We believe Tony Fernandez torching the Olympic opening was a bad tribute to Olympic Games 2012 because our Malaysians athletes will not win GOLD for the country.
The Devil who likes 666
Tony Fernandez was born a bastard and today he would be showing to the world how bastard behaves in the public. His left his BASTARD trade mark and trails in Malaysia Airlines for Ahmad Jauhari to clean up from the scratch.
Tony Fernandez was a con man who sold pirated CDs at Brickfields, Kuala Lumpur and embarked into a musical industry we believe was to smuggle more pirated CDs of his own supply using a musical industry company’s logo. A lot of people did not realize until at one point of time, the musical industry have had been hit hard with piracy.
Running away from the musical industry after making lucrative bucks was the BASTARD first ideology to venture into buying over the trouble companies that included Air Asia for RM1.
Today, the bastard Tony Fernandez has ventured into Indonesia to buy more trouble companies such as Batavia Air that was struggling with many domestic competitors because Tony Fernandez is blacklisted by the Malaysian’s market for swindling the government to take over Malaysia Airlines which then had the Firefly – a subsidiary of Malaysia Airlines crippled in competing with AirAsia in the domestic segmented markets.
How ridiculously cheap is AirAsia share prices?
Richard Branson has sold his AirAsia 10% shares for USD21 millions because we believe he sold it at par value. So AirAsia shares is not truly RM3.41 as listed in Malaysian market because its par value is only 34.1 cents (ringgit).
Recalling the shares swap that was approved by Dr. Evil Kutty of which a ten percent of AirAsia shares were exchanged with RM2 billions worth of MAS shares – an estimation in USD666 millions. The figure (666) makes us believe the share swap deal was negotiated by a devil named Tony Fernandez.
Tony Fernandez has been well-exposed by many bloggers including ours in Malaysia and he is now blacklisted nationwide by all Malaysians for having defaulted payment for aviation taxes.
For this reason, Tony Fernandez needs to breathe and start a new leaf in the land of Indonesia. WE believe he carries with his trademark to screw the Indonesian’s competitors by conquering the whole of Indonesian’s markets and eventually also to own all Indonesian’s airlines to carve his trademark “AirAsia – Tony Fernandez” into all Indonesian heads. We thought he may as well tattoo on all Indonesians’s forehead his name Tony Fernandez so to make it easier for him to run his illegal businesses such as smuggling Ecstasy into Indonesia with the help from his co-existed sleeping partner – the Big Boy Bashah A. Aziz who has a very strong link with Deputy _ _???
So, Mr. Prime Minister, do know who is your enemy in your region.
The under-educated Tony Fernandez has the pattern to always making false announcement through the Malaysian media such as STAR. He recently told the local press that AirAsia will buy 76.95 percent stake of Batavia Air this year and the rest by 2013. He was then corrected by the Indonesia government after the Indonesians side declared the Malaysia-based AirAsia will own 49 percent of Batavia Air while its Indonesian unit will control 51 percent in order to comply with Indonesian ownership rules.
Back to the reason of why Richard Branson sold off his 10% shares in AirAsia. It was because AirAsia has insufficient fund to even pay back the down-payment of large aircraft orders that was last made by Tony Fernandez in Paris in 2011. The yearly revenue AirAsia-Malaysia has been making is only RM4 billions (USD1.2 billions) and the accumulative debts inherited by Tony Fernandez is currently estimated at RM57 billions (USD19 billions).
With AirAsia current yearly revenues, it will need 19 years to repay back its loan to CIMB and clear all debts. Hence, the share swap deal with MAS was inevitable. With the cancellation of MAS/AirAsia share swap deal by the Malaysian Prime Minister, Tony Fernandez has had no choice but to have relocated its headquarter to Indonesia to improve its AirAsia group earnings through buying over Batavia Air for a fresh start and eventually is to control the market in Indonesia by gradually buying over any Indonesia’s trouble airlines.
We all know Tony Fernandez does not own AirAsia anymore because Daim the blood sucker has bought all of the shares from Tune Air Group. And the mere reason that Tony Fernandez has to be STILL the CEO for group AirAsia is because he incurs all of these huge debts for Daim the BloodSucker and so he has to make more money by increasing AirAsia group’s earning to repay all of the debts Tony Fernandez has incurred for AirAsia before he is to be let off from AirAsia by Daim the Blood Sucker Vampire.
Daim the Blood Sucker is smart and owns Tony Fernandez for now because he has all dirty records belong to Tony Fernandez.
Per se, all Malaysia Airlines workers got to be prepared for another come back episode by Tony Fernandez to fulfill his three big DREAMS that are;
(1) Tony Fernandez is to own the Ferrari sport club and he now owns Caterham Club.
(2) Tony Fernandez is to own a football club which at present is Queen Park Ranger and if he has more funds, he would’ve gone for better club.
(3) Tony Fernandez final dream is to own a National Premium Service Carrier that is Malaysia Airlines.
To MAS workers, we have FORE-warned you and you shall not let your guard down to stay vigilant and be vigilante about the existence of NUFAM – it is a backup plan to bring back Tony Fernandez by linking the top management to Tony Fernandez so to be able to collaborate once again.
The NUFAM a.k.a. MAFAA are aggressive to have more members with mandate to take over MAS unions by inciting hatred among MAS workers instigating disgruntlement, vexation and anger within MAS workplace.
Stay tune to Malaysiaairlinesfamilies for our next episode on how Tony Fernandez does money laundry illegal business to improve his group’s earnings and why NUFAM is of relevance to Tony Fernandez’s future “comeback” to Malaysia Airlines!!!