The sabotaging acts by Ahmad Jauhari, Zahrah Zaid and Azhari Dahlan – Part 1

Malaysia Airlines (MAS) which bear the brunt MH370 tragedy now facing serious internal problems when nearly 1000 cabin crew‘s resignation have caused a massive loss of RM100 million over the next two years in terms of training costs.

Overwork stress and burned out factors;  other than ‘caught’ in between the other airlines – AirAsia and AirAsiaX prompted about 120 aircraft technicians; engineers (40); cabin crew (300) and 30 pilots completed their service in the company have left MAS for AirAsia and AirAsiaX. This proves that MAS has now become the National Aviation Training Centre for AirAsia and AirAsiaX under the leadership of Ahmad Jauhari, Zahrah Zaid and Azhari Dahlan and their proxies collaborators –  Izham; Hayati Ali and bunch of MAS Senile Executives.

Each resignation took place upon the lacking of welfare for employees in the last three years especially the Technicians, Engineers, Pilots and Cabin Crew were under this trio’s brutalities; whose collaboration with the middle management – Senile Non-Performer is to sabotaging the company’s operations by the power of Flight Operation Director – Izham; Inflight Services Senile Woman-In-Charge – Hayati Ali; working hand in gloves with the Senile Non-Performing executives.

These bunch of executives are known as FAN-NERDS and apple polishers. They are out to design a structure to kill the airline by collaborating with NUFAM feeding the yellow union turns EMPLOYEES’ killer all the insight information so to increase the pressure forcing MAS Cabin Crew to resign whilst providing a higher workload with shortage of manpower; finding ways looking to reduce the allowances and benefits that the employees are entitled to. 

In shortest explanation; MAS Flight Operation Director Izham, MAS Human Relics Director Zahrah Zaid together with Senile Women in charge – Hayati Ali are at best proposing unsound structure for MAS Cabin Crew with only USD 0.60 cents increased per hour for MAS Cabin Crew and non-stop 23 working days for the Pilots so to pressure them leaving the company and destroy the operation once and for all. They stole the surplus from the Cabin Crew’s expenditure to pay the increased and kept the remaining RM1 million for their own secret bonus before Prime Minister of Malaysia announces the new take-over.

Cheers to the TRIOs of this thread for successfully musketeered the work for Tony Fat Pariah Fernandez by collaborating with MAS middle management.

Zahrah Zaid and Hayati Ali authorised for every completion of the training funded by the company; there must be a massive pulling out of these new trainees by her collaborators – a bunch of senile Fan-nerd executives using highest pressures and purportedly discriminatory work pattern with the help of the whispering campaigns from Tony the FAT ASS’s syndicate so to force them out of MAS and into AirAsiaX. This is done by also promoting AirAsiaX to the newly recruited MAS Cabin Crew via badmouthing the company’s situations.

Sources informedfor several years not only the company failed to give bonuses and benefits for employees getting vacation with the family that also ceases whilst coping with a tremendous increased in workload during this shortage of staff in so much a way to abuse them and pressuring them to leave the airlines for AirAsia and AirAsiaX.

Various factors including an increasing employees’ eagerness to continue working with the company is now totally lost via this collaboration framework between MAS and AirAsia (which is still in existence despite the dodgy “share-swap” deal with AirAsia was cancelled by the Prime Minister of Malaysia).

Almost now and then the employee concerned after having completed their training will always find another attractive job offer from another airline with a higher rate of pay. It seems there are AirAsia’s syndicates who‘s watching MAS and wait for the right time to fishing’ MAS new caliber staff.

Here is one example of the newest syndicate who joined MAS to recruit its quality Cabin Crew so to join AirAsiaX…this ugly Pondan is a member of NUFAM.

AAspy1We saw this gay asshole who keeps fanning Dato Kamarudin in one the parties we were invited.

First this gay prostitute joined MAS…


And he reported frequently to Dato Kamarudin Meranun and AirAsia Chief Operating Officer Bo Lingam; is now promoted to AirAsiaX after he (this gay prostitute) successfully influenced MAS new recruit to join AirAsiaX.



AAspy5Concurrently he also recruits MAS Cabin Crew via his facebook. So guys and gals do you see what we have discovered from Tony Fat Pariah Fernandez’s strategy to slowly killing MAS via the collaboration framework? His next promotion is Manager of Cabin Crew for AirAsiaX after he managed to fan Azran Osman.  It looks AirAsiaX is recruiting lots of gay prostitutes to fulfill the market supply possibly for the BABI too – Brother Anwar Bin Ibrahim.

Good advice for all airliners in the world; stay away from doing business with Tony Fernandez the Pariah low caste airline and do not hire his men or his staff such as Ahmad Jauhari; Zahrah Zaid and Azhari Dahlan.


Information obtained indicates MAS large amount of funds is allocated for staff training programs of which RM200,000 is for each MAS pilots who must undergo two years of training and RM190,000 is the cost of training the flight engineer over the next period of five years.

In addition; the cost of two years of training for each technician is about RM75,000 and the four months training period for a steward and stewardess  a stewardess involves expenditure of RM50,000 each.

The source said Who wants to work with MAS if there are companies that offer a salary of RM30,000 per month for experienced engineers from seven to 10 years and some technicians also are offered RM8,000 a month, compared to RM3, 000 in MAS.” 

This is how MAS bleeds to death with such losses in trainings; and human assets.

Asked whether the tragedy MH370 affect employees of the company; the source said added it certainly indemnify the company RM1.7 billion otherwise would have been in worse situations.

“If it was not for MH370 MAS staff morale has weakened over the last three years,” he said. Another word; MH370 fosters closer ties internally.

The source said, the roster for Pilot and Cabin Crew force them to work for long hours shuffling between international and non-international flights and at worst quick turning around the flights to save cost so for fattening the salaries of Ahmad Jauhari; Zahrah Zaid and Azhari Dahlan whose salaries grew over 200% increment in these three years whilst the staff working beneath them sufferred heart attack; burned out over the high workload and lowering paid for those who have been committed to the National Carrier their entire life.

“This situation has resulted in staff suffering pressures; physically and mentally forcing them broken up with their family with no time spent for family when working with MAS” the source said.

The situation got even worse when MAS flight into Bangalore turned back due to emergency landing and another flight into Inch-eon; Korea turned emergency landing into Hong Kong have frightened both the Pilots and Cabin Crew to the highest degrees forcing them to contemplating a quick resignation with MAS. All these emergency landings were orchestrated by Azhari Dahlan with the help from AirAsia’s Engineering who planted something foreign during the logging of AirAsia’s aircraft parked next to MAS and Firefly aircrafts inside MAS MRO. The firefly is next on target by Tony the Pariah Fernandez.

Sources have revealed Ahmad Jauhari and Zahrah Zaid have stolen the available budget approved by ex-MAS CEO/MD Tengku Azmil for MAS Cabin Crew where they could have been paid USD15 an hour (RM45) but the available budget is used and injected into his salary for his own personal gain. AJ shared his remaining budget with Zahrah Zaid; Izham; Azhari Dahlan; Salleh Tabrani and other directors and shot up the directors’ salaries to 250% to keep them quiet about the accidental surplus of the available budget for staff below the management level.

The end result the trio have delivered successfully – Skytrax awardes best Cabin Crew 2014 is Garuda Air. MAS used to be best Cabin Crew in the world now dropped to number five whilst AirAsia and AirAsiaX maintained Number 1 & 2 low caste airline in the world.

Congrats to Khazanah the blind ladies who never saw this coming! We have information there are a bunch of conmen now eying at AJ’s position. We hope the Prime Minister of Malaysia will make the best decision not to let these bunch of conmen bring him down again.

The Prime Minister of Malaysia must also know the disintegration plan on MAS is to also share with some politicians from opposition side especially Anwar the Gay De Facto Leader who are out to gain profit from MAS selling its entities and a golden opportunity to own a lucrative long-term business because MAS despite the hurdles is still generating revenue for the country. The GAY De Facto Leader may not win the position from Selangor current Mayor so to prepare his next campaign for PRU14; the gay leader must own MAS by hook or by crook.

In short; AJ and gang is betraying Khazanah (Tan Sri Azman Mokthar will take the fall after all) and Khazanah the ladies in red is to be blamed for the fallout in the next PRU14.

MAS management could not be reached for comment and the public need to file for missing MAS spokenman for unable to comment on this sabotaging act by Ahmad Jauhari; Zahrah Zaid and Azhari Dahlan who work for Tony the Pariah Fernandez.

Stayed to our upcoming part 2 – INNER revelation ON AJ and Tony!


Nufam’s Stupidity – Episode 3

The journey of the National Union for Flight Attendant Malaysia in typical circumstances is a shortest stint ever recorded in the history of trade unionism as assisted by the Director General of Trade Union – the Cleverest Young Bastard (YB) Mustafa Bin Ali and his collaborators that included AirAsia’s CEO Tony Pariah Fernandez working hand in glove with another born-to-be-bastard “Roslee Sabaruddin” who works discreetly with MAS imported spy – Mohammad Fauzi Mahayahuddin to destroy the National Carrier from the inside.

This is how the department of Trade Union collaborates with Nufam…

buildingtomb20132buildingtomb2013And the hero comes along…


Let us take a closer look at NUFAM chronologically…it was registered in 2012 by Ismail Nasaruddin the Lipas Man who recently was fired from Malaysia Airlines for public defamation against the National Carrier and six other MAS cabin crew. Nufam was approved by Roslee Sabaruddin (Assistant of DGTU) who then was believed to have received a sum of RM50,000 (under table) from AirAsia for assisting in the formation of Nufam to stir trouble inside MAS.

numb20131Now Every Crew Can Vote!

The slogan Nufam uses are in conjunction with AirAsia’s advertisement clearly revealing such slogan was authorised by AirAsia’s Tony Pariah Fernandez. The mission is to poison MAS cabin crew so to join AirAsiaX with those unfurled lies about how wonderful and fabulous that AirAsiaX is than any other local airlines.

This is how AirAsia get to recruit the experienced cabin crew from another local airlines for its quick expansion avoiding payable inland and airport taxes. The profit AirAsia makes are generated from all taxes specifically the airport taxes and the pre-paid airfares collected in advance from its customers.

Nufam is tasked by AirAsia’s CEO Tony Pariah Fernandez to pressure MAS CEO Ahmad Jauhari to fully committ to his promises that he made with Tony Pariah on signing away MAS quota for Los Angeles route paving way for AirAsia to fly into Los Angeles by the end of 2014.  When a CEO fails delivering it on time…Nufam strikes…nufam2014The fact remains that Nufam was truly formed by Tony Pariah Fernandez working hand in glove with the cougar bitch – Maznah Mazlan whose collaboration included those resentful ex-MAS workers in her attempt to avenge MAS for terminating her nephew who was once also a cabin crew of Malaysia Airlines under 5 years of contract service.

sackedLast year was the most memorable year for Nufam President who then finally joined the resentful clowns.

Here’s the memoir of Nufam 2013…

numb20132numb20137Nufam’s memoir for 2014…

tomb2013Digging a grave…

tomb2014Building a tomb and finally…

tomb20142Done Yet? or Well Done? Looks like the steak is sizzled and well done.

Congrats Nufam for being so D.U.M.B – Don’t Use Many Brains! Stay tuned to us for our next episode 4 – Against all odds – Ex-executive councils of AEU strikes back against MAS!

About Nufam’s stupidity – Episode 1

A blogger wrote about NUFAM’s stupidity;

The national carrier – MAS (Malaysia Airlines) is progressively being challenged by the emergence of a few airlines such as AirAsia; Berjaya Air and the latest Malindo Air. The concern now is that MAS continuously facing the difficulty turning around and bullish from its losses. At the same time MAS is also being challenged by a newly registered union that retorting at the level of an extreme stupidity.

People wonder why MAS is incurring losses on yearly basis? Comparing to AirAsia in Malaysia’s aviation industry; MAS appears far behind in terms of their annual profit and expansion whilst AirAsia keeps posting profit although AirAsia is making huge losses. In fact; the newly established airlines the latest is Malindo Air indicating a transformed determination to record good profit figures for its airlines operation.

In this case; we are confused by the call from The National Union of Flight Attendants Malaysia (Nufam) that urged the Prime Minister to sack the Chief Executive Officer – Ahmad Jauhari Yahya of which we viewed as the strangest out of sudden and a very stupid act by the Nufam’s leaders who do not know how embarrassing it is to publicly showing off their loss of consciousness as workers and even behaving aggressively and rudely in their manner towards their employer of Malaysia Airlines.

The individual we’re hinting is Mr. President of NUFAM a.k.a. the Lipas Man. So the Lipas Man is backed on reclaiming his lost treasures!


Extreme stupidity as indicated by NUFAM

A blogger asked why is this union so stupid? This union should look at themselves and ask what have they done and helped to bring profit to MAS before demanding for more? As a business entity to the government; the Union should proofread themselves and have self-reality check to see what way in moving forwards of future plans can they be offering MAS to bullish from this competitive market. Only with huge profits that MAS have accomplished; can the Union then logically demand an appropriate allowances whatsoever improvement for its members.

Nufam is displaying its Trade Union leaderships as an extremely imprudence and impertinence that easily be spotted when its leader’s attitude shows no priority over the claims to enter negotiation with MAS who is the employer. It looks like Nufam thought they are the employer and MAS is their employee.

The overall perception is that Nufam is extremely thoughtless and have proven to the public that it does not form out of good leadership and their egotistical opinion towards the company and the workers is an absolute idiocy.

Union leaders must know what is the priority for its members. Leaders who know their priority will be able to negotiate skillfully for its members.

What is MAS priority now? Is it the priority to upgrade the workers’ pay whilst making losses or focusing on sustaining the company?

Of course, the priority shall be given to the company to stay sustainable and supported fully by the workers. This thrust of priority must be given to the employer to return its profits and only then the union can claims for better benefits for its members.

This is a usual business law. This Nufam union not only is extremely unintelligent but also do not have the brain to perceive a long-term business partnership.

Union should understand any organization would not succeed if the union does not work together with the employer bringing the solution to the negotiation table.  Such union leadership should be eliminated since the emotion has irrationally dominated his action and demand.

We are no longer living in the colonial period! For example the latest trend if you asked 10 people who live in both urban and rural areas of how do they travel to Kuala Lumpur and which airlines do they prefer to fly with? 9 out of 10 people have turned out to confirm they only travel with AirAsia because of its cheapest low caste fares.

The question is; what is MAS management/workers doing? What is Nufam the stupid union doing? Neither have they displayed any newest product nor desire to help MAS to return to profitability!

The workers should not be busy in demanding things that seem silly or extreme. Malaysia Airlines as the national carrier is needed to stay resilient and committed to the country.

We are experiencing a very competitive airline business in this new world and if the workers wanted to claim an extra allowances; they must prove that they are indeed worth the claims.

Another second example is that an ordinary clerk in the bank at a branch level in had enjoyed a 6 months of salary bonuses for two consecutive years simply because the workers went to the villages and islands to promote their services and products.

The third example is the Pilgrims Fund Manager at the branch level went down to the school to educate school children just to save just RM5.00!

For once have we ever heard that Nufam Union or MAS workers and the management ever moving around to promote and marketing MAS products and services or speak good about MAS to the public users?

The mark is simple!  Nufam is blatantly lazy and stupid because that is what they love being lazy and imprudent in their work unbecomingly very demanding; and most of Nufam’s members are of delinquent type.

So to Nufam Union who do not only showing an extreme folly to claim various increment and allowances without proving that they really deserve it but instead they have demanded the CEO to resign.  Isn’t that an extreme stupidity of leadership that detected from the Nufam leaders?

In business; we need to realize profit is not easily generated overnight without hard work. So the first advice to Nufam Union is to mirror your own character; integrity and your responsibility.

Will be continued in our next episode! 🙂

NUFAM brewing plans for MAS Cabin Crew – Part II

This week would see a disastrous opportunity for Mr. Lipas man a.k.a. Mr. President of NUFAM on annihilating a group of innocent MAS Cabin Crew whom have zero ideas of what NUFAM is brewing. NUFAM IS A HOAX. A strategy formed by Zahrah Zaid – MAS Human Remains Director to destroy the workers’ in entirety. Zahrah Zaid works secretly for Tony Fernandez – Malaysia Airlines must be cautious with her movement and planning for its workers due Zahrah’s action may destroy MAS images.

Our previous posting here – Part I provided some insight on NUFAM plans on cheating MAS Cabin Crew via its so-branded “NUFAM SECRET BALLOT“.

NUFAM – National Union Flight Attendant Malaysia is brewing plans sabotaging huge employment opportunities for many innocent MAS Cabin Crew who only seek decent employment and security with Malaysia Airlines.

The planning between Zahrah Zaid and Mr. Lipas man were cooked on getting rid of 500 to 1,800 cabin crew in Malaysia Airlines and reducing their benefits; terms and conditions altogether.

Malaysia Airlines has been serving the public as National Carrier for the past 40 years. We find it very cruel to have such a huge organization allowing the imported proxies of Tony Fernandez sitting on top of the management ruling the workers who have contributed their entire life building this National Carrier whilst the imported proxies are tasked to cease the workers’ tenure of employment with Malaysia Airlines.


This week, Nufam, in a notice posted on its website and a copy made available to StarBiz, said: “Nufam will stage a full public protest against the Human Resources Ministry over the delay of the MAS Nufam secret ballot.” The day has been set for March 28, the time; 1pm, and the place; the entrance and courtyard of the Human Resources Ministry. MORE read HERE.

ZAHRAH ZAID the evil woman has another anti-union double agent – Mohd Fauzi Mahayadin aiding and abetting her in assisting NUFAM providing Mr. Lipas man the most confidential document belonged to Malaysia Airlines whilst instigated NUFAM to protest outside Ministry of Human Resource before the upcoming General Election is held to embarrass the Prime Minister.

This planning was reported already in the pipe-line laid by all NUFAM Executive Union Officers collaborated with Zahrah Zaid and her double agent last year in 2012.  The staging of protest is to push for the Ministry of Human Resource particularly its deputy cougar Minister Maznah Mazlan for her gavel to end the conflict on NUFAM secret ballot for MAS Cabin Crew.

Despite knowing the wrong is with the deputy Minister of Human Resource – Maznah Mazlan when approving NUFAM; there’s nothing much for the Ministry of Human Resource to correct the wrong doing conducted by his deputy.

As a matter of fact; Mazlan Maznah who have been reportedly meeting Tony Fernandez have been providing assistance to NUFAM for its attempt penetrating into Malaysia Airlines as stakeholders representing Tony Fernandez’s views and policies.

One of the policies from Tony Fernandez is to cease all traveling privileges for MAS workers in exchange for the workers to opt for Air Asia staff and family scheme and all MAS terms and conditions would drastically be arranged in parallel to Air Asia’s present terms and conditions for its Cabin Crew if NUFAM is to take the lead in negotiation for MAS Cabin Crew.

Whilst MASEU the in-house union for MAS Cabin Crew might not keep too quiet about NUFAM interference in its negotiation process; have ignored the whine and cry that does nothing for MAS workers.

We are updated NUFAM have no track records on achieving improvement for MAS Cabin Crew accept for disuniting among its members and non-members. Of late; NUFAM have been forcing some young MAS Cabin Crew harassing them for signing up as members and paying upfront of up to RM400 per sign-up for two memberships fees.

NUFAM have also sought the assistance from the Director of Trade Union Affairs – Mustafar Bin Ali and Roslee Sabaruddin for special advice on staging the picket outside the building of MOHR at 1 pm on 28th March 2013.

This warning of protest by NUFAM only serves as drama for doing something for its NUFAM members. Our reliable informants alerted Malaysiaairlinesfamilies that the protest by NUFAM on 28th March 2013 is a hoax as it will be cancelled on that morning due all NUFAM Executive Union Officers will be providing excuses away for work and running errands; on sick leave or in hospital seeking treatment or even “late attendees” their name should be.

In the meantime, we are well-informed NUFAM “trashing forum” would be updating all lies and flies buzzing around the bush to keep its members spirit high and strong. Strangely, how is it possible for a National Carrier to have employed such crooks sabotaging Malaysia Airlines’ images particularly when Malaysia Airlines has just joined ONEWORLD ALLIANCE.

Stay tuned to our updates from Malaysiaairlinesfamilies. We are currently investigating more stories on Tony Fernandez and his scammy businesses and his conceiving tactics luring investors into buying his bankrupting business – Air Asia.

A tale of two airlines in Malaysian skies – Episode 2 “Exposing Against Tony Fernandez’s proxy”

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;

  1. 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.
  2. 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.
  3. 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.














Morgan Stanley research on Air Asia

Investment Thesis

  • 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.

Potential Catalysts

  • 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.

Key Risks

  • 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.

Investment Thesis

  • 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.

Potential Catalysts

  • 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.

AirAsia is a cheat! So is Tony Fernandez!

Last year in 2011 Air Asia had ordered 100 planes from Airbus Company and the shares went viral –  RM3.68 and more but this year Air Asia shares had dropped drastically to RM2.53 per share even after Tony Fernandez announced the Airbus order of another 100 planes. It looks like the public is extremely aware of the con-job performing by Tony Fernandez. Look at this chart carefully – the market watch report.


It’s a sign of distress that Air Asia not just facing the wrath from the public unsatisfying over its latest scamming businesses conducted by Air Asia which is now worldly renowned.

The market watcher on STAR website permanently displayed Air Asia’s share at RM2.78. Isn’t this evidence of cheat by Air Asia’s group CEO Tony Fernandez who’s also the board of director for STAR publication? Now everyone could be cheated.


The actual share prices for Air Asia as at 31st December 2012 is?


Truly Tony Fernandez is a dick head who only knows how to cheat!

No one in Australia can be cheated or misled especially the Australian’s effective enforcement that Melbourne Federal Court imposed a huge fine of Aussie dollars 300,000 on Air Asia and Air Asia X for its misleading website information cheating its customers concealing the charges of taxes.

Now Everyone Can be Cheated and how to cheat Customer? Tony Mother Fucker Fernandez will answer with his middle finger to all his customers who claimed for refund with Air Asia.


Try claiming for refund with Air Asia – you will be exhausted with all the pushing around formula designed by Air Asia Group CEO Tony Mother Fucker Fernandez. He makes sure you will give up with all the hurdles he places for your to go through until you learn your lesson that never tried to claim for refund with Air Asia ever again.


The solid reason behind this fluctuated chart on Air Asia’s shares performance is that it keeps dropping by the angry customers who’re also the shareholders that would not trust anymore on Tony Fernandez and Air Asia over their scamming businesses deals. It’s always the saying you can cheat your customer once but never for twice. Having you learned the lesson yet Tony boy? How’s your court cases (huge cases) going? It’s about to explode Air Asia’s pocket soon. Our wish for good luck to Tony boy yeah if you could survive in 2013.

Air Asia’s airfares to Johore Bahru has been on the rising mode lately. Last year was this figure with regular fare at RM72.00;


Look at next year 2013 airfares for Johore Bahru


Air Asia has increased its airfares quietly at the rates of 10% percent per year but the salaries and wages for his workers has yet be increased since 1997. A con man is always the con-man. Even he has to con his workers by scheduling them the longest working hours on earth anyone could find in any companies. Our commentator informed us Air Asia’s cabin crew have to work for 140 hours in a month.

Isn’t this already violating the Malaysian employment act where workers can reached most of 39 hours per week for non-shift category worker?

The amount of working hours for cabin crew is already exceeded 24 hours in a month and yet it’s condoned by the Ministry of Human Resource who keep busy in getting NUFAM the not so secret but open ballot to cheat for recognition with MAS. The world now is watching on how the corrupted Ministry of Human Resource and his even more corrupted cougar minister gonna destroy the Malaysian workers part by part in Malaysia by provoking the Malaysian workers at this time when the election is so very near.

Mr. Prime Minister; isn’t that crystal clear these two ministers of yours are sabotaging the ruling coalition for the upcoming election? Better do something fast by removing these moles from the Parliament by first suspending their ministerial duties until further notice before a group of workers are on the street on strike on the day of the 13th Election.

Not only Air Asia is a cheat but the Ministry of Human Resources too is a cheat collaborating with Tony Fernandez provoking all Malaysian workers pursuing wildcat strikes within Malaysia before the upcoming Election.

The history on wildcat strikes in 1979 by the workers of Malaysia Airlines System (MAS) that resulted in the government DE-registered the trade union of airlines employees; allowing only one trade union for foreign airlines employees and one in-house union for MAS employees that sealed the last amendment for Industrial Relations Act in 1980.


Ushering a successful new year 2013 for Malaysia Airlines and its workers. For the DON; we know you’re always our loyal reader but we urge to stop the internal politic fights before you get to destroy Malaysia Airlines more. We are watching you closely and your duty bound is no longer the national duty so be very sensitive with human capital.

Stay tuned with Malaysiaairlinesfamilies for more unbelievable stories from the inside of Malaysia Airlines and Air Asia and wishing all our readers and subscribers a very prosperous 2013 new year ahead.

MAS HR Director Zahrah Zaid collaborates with Tony Fernandez to destroy Malaysia Airlines – Part I

Many have agreed that women are great leaders but let’s see what Zahrah Zaid can do for Malaysia Airlines especially for its worker.

The recruit of Zahrah Zaid as Director of Human Resource by Tony Fernandez during MAS & Air Asia share swap/collaboration which lasted for 8 months was to end the unbreakable in-house union formed by the ruling party – The UMNO. The cancellation on the collaboration between MAS and Air Asia by the Malaysian Prime Minister Najib Razak was to save the entire MAS workers from losing their job security with the National Carrier after a memorandum from its 8 MAS Unions and Associations reached the Malaysian Prime Minister. It was the gift of livelihood for MAS workers when the Malaysian Prime Minister Najib Razak officially cancelled MAS & Air Asia share swap/collaboration on May 1, 2012.

Zahrah Zaid; submissively is loyal to Tony Fernandez and their employer-employee relationship remains a stronger synergy despite the end of the collaboration between MAS and Air Asia. As her background is in majoring in the Industrial Relations; she collaborates with the deputy Ministry of Human Resources combined joining forces with the Director General of Trade Union and under a specific directive from Tony Fernandez; Zahrah Zaid on behalf of Malaysia Airlines shall grant NUFAM a seat in Malaysia Airlines for representing MAS cabin crew that is set for February 2013.

As the director of human resource for Malaysia Airlines; she bears the responsibility on development for workers’ direction and her given directives shall be beneficial for Malaysia Airlines and its workers in overall.

Notwithstanding, we’ve discovered the registered NATIONAL UNION i.e. NUFAM is to destroy Malaysia Airlines’s main revenue which is its cabin services. This we believe is the strategy to kill Malaysia Airlines part by part. As alerted by our commentator the spies of the opposition formed NUFAM to end the UMNO supporters.

In MAS Engineering division; the strategy on depriving its human assets – the loyal MAS engineering experts have just begun. The divide and rule strategy is now being adopted in MAS Engineering division to conquer the workers’ rights from reaching its legal platform. The pushing away of MAS best engineering workers have gradually contributed lessor revenue for Malaysia Airlines. The revenue was drastically dropped from half billion ringgit to only a few millions a year. This we believe is the job of Tony Fernandez masterminding a destructive plan for Malaysia Airlines so that Air Asia can survive from the painful competition when Malindo Airways comes into the play by March 2013.

Malaysia Airlines under Ahmad Jauhari – Mr. Faraway Clueless man is still very much clueless joined in streaky directions so forth. In spite of that clueless and streaky directions; Malaysia Airlines continues to prosper with its cabin services that the world is looking forward to have and try for an inflight dining with Malaysian Hospitality.

However, Malaysia Airlines is strong in its revenues generating program where the cabin services are mysteriously world sought-after despite MAS poorest performance in its share prices. WE hope to see a gradual improvement in its share prices.

Zahrah Zaid is a woman of all evils. The one that will destroy MAS cabin services by pressuring MAS cabin crew to accept NUFAM whether they like it or not. With NUFAM bearing low cost terms and conditions for MAS cabin crew; it will destroy MAS best cabin services.

The NUFAM is of no saint as been produced here. Misappropriating funds by Mr. Lipas man of MAFAA and NUFAM account have not been lodged to the police. Notwithstanding, we’ve discovered the registered NATIONAL UNION i.e. NUFAM is to destroy one of the Malaysia Airlines’ main revenue which is its cabin services. This we believe is the strategy to kill Malaysia Airlines part by part. As alerted by our commentator the spies of the opposition formed NUFAM to end the UMNO supporters. We have valid reason to believe the deputy Minister of Human Resource is anti-UMNO and has agreed together with the Minister of Human Resource to collaborating with Tony Fernandez in lowering the overhead cost for Air Asia by transforming a new rules and regulations for cabin crew in Malaysia where transport is one of the main agenda that is off the bargains in the future.


The religious group should have thrown stone on them for KHALWAT! Unfortunately, Mr. Lipas man is protected by the deputy Cougar Minister of Human Remains

The practice in Air Asia for twin sharing rooms could be imposed by Zahrah Zaid to embarrass Malaysia Airlines sabotaging the membership with Oneworld team with lower terms and conditions for its workers where gradual withdrawal from Oneworld is imminent for Malaysia Airlines.

Malaysiaairlinesfamilies believe the MEN-IN-BLACK in Khazanah must act righteously for the benefits of the National Airlines by removing all rats evil-sent by Tony Fernandez. The rats from Air Asia are Group CEO MAS Engineering; Group CEO Ahmad Jauhari; Director of Human Resource Zahrah Zaid the evil woman.

Finally we’ve also uncovered the real identity of the fake doctor Don who’s cooking a plan out for himself.

The truth is we’ve received information on Dr. Don who’s purely an willy old fox who once said MAS & Air Asia collaboration is a national tragedy but look at himself; he’s more than a tragedy for Malaysia Airlines cooking up secret plan on how to wind up Malaysia Airlines by provoking its workers to strike. We also discovered he was responsible for the wildcat strike in the seventies which terminated all Pilots and Engineers and over 500 cabin crew and catering workers. A man who praises Islam but cultivate otherwise – a drinker who goes for clubbing even at his age near 60 years old. A drunkard board of director and a meddler in MAS daily routines. For the public information; he’s ca-hooting with several executives to provoke MAS unions to go on strike so he could De-register Malaysia Airlines just like the philosophy he adopted decades ago.


Is this a curse for Malaysia Airlines to have such leaderships? How could Malaysia Airlines be improved with this massive internal politics? And where is the unions leaders? Are they still sleeping or hiding or gutless to go all out for MAS workers? The idea of having an union for a big organization is to protect the workers from being victimized by the management politics.

Stay tuned with Malaysiaairlinesfamilies for up-close and personal true stories on Malaysia Airlines. Next – update on AirAsia scammy businesses – Air Asia is a cheat!