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leon t

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Everything posted by leon t

  1. seriously doubt Khazanah will be even able to pull such a staff reduction - MAS Unions and politicians have not come up as yet till the employees are really given the marching orders. It will just be a political mess and reconciliation by Khazanah - just like it have happened a few times before.
  2. as have been discussed before, MAS employees productivity are only half that of SIA's and CX's.
  3. its the same old story of Khazanah bailing out MAS than an investment - as this is the same people who bail out MAS a couple of times, the last in 2002 - so don't think Khazanah will be able to pull off this turnaround. The rm6 Billion to be injected into MAS will be more of a bailout than an investment and doubt it will ever be recovered as MAS is already mirred in rm14 Billion debt as it is now. This rm6Billion will more for paying off the employees and to pay back compensation for contracts that will be cancelled and renegotiated eg the one of the major example is Brahim catering which MAS then for some reasons signed a 25 year Contract! and its worth more than rm15 billion!! And for this job cuts of 6,000 people - the issues of this will be coming soon from its unions and other political parties and it will turn ugly and Khazanah will likely have to reduce the cuts and never able to achieve its aims. It would have been best to let MAS go into bankrupt and then sold off to non govt private investors - to save the billions poured in now - its like throwing away good money into bad. For rm6 Billion - the govt can easily start a brand new airline!
  4. MAS is already in more than rm12 BILLION debt and Khanazah too have another few billion in bailing out MAS and for this restructuring will spend another rm3 BILLION to try and turnaround MAS. All in MAS related debts would easily go up to near rm20 Billion!! The govt should have truly allow MAS to be truly and totally privitalised commercially and not by any other govt-linked companies. A brand new airline startup would have even cost the govt much less if the govt still wanted to run an airline through its nominees.
  5. its just wayang wayang only - surely Khazanah would get the rm3 billion to be thrown away and wasted anyway......
  6. Imagine MAS already is in rm12 Billion Debt and now Khazanah have to put in rm5Billion over next 3 years in order to trim and get turnaround MAS - and this excludes the amount of operating losses that MAS will get over the next 3 years! It would have been much better to let MAS go bankrupt and truly privitalised the airline. And MAS should have never gotten the A380s in the very first place.
  7. Yes definitely the RSAF and S'pore govt do not disclose the actual numbers but 40 F-15Gs maybe a tad too many although would not be surprised if indeed its 40 as S'pore can very well afford it. And do note that S'pore has at least 8 F15s and F16s in the US for their pilots training - as well as Apaches helicopters. Note also teh RSAF has also ordered 4 A330s tankers to replace their KC135s.
  8. IJ is more of a asset stripper in the way he handled MAS and "turned it around" into the black for a couple of years. He sold everything from MH HQ and buildings to its planes and even art pieces that MH has. It's actually good too to have a non MAS executive to be the CEO - as an outsider will have a wider and out of the box thinking that an senior MH employee. Running an airline doesn't necessarily meant that the CEO must be from MH or another airline. The classic local example is AK's TF. What is most critical is the eye for commercial and business acumen.
  9. Loads although good to use as a guage but in itself is not a good measure as one can have 90% or even 100% load but still making a loss. Its the Yield that matters most. In any case, doubt Khazanah can seriously turn MAS around even by the 3rd or 4th year - as since its a govt-owned company, it would be very difficult to cut jobs amidst the strong and political Unions. MAS have more employees than any other regional airlines, incl SIA and Cathay Pacific and in productivity MAS staff are only half as productive as SIA. And Khazanah will find it almost impossible to deal with the sackings of thousands as its seen as a govt company and inevitably draw flaks from the Unions and even some politicians. It would have been better if the govt had truly privitalised MAS to other non-govt related companies and other airlines.
  10. doubt there would be a QF/MH jv - as QF itself is finding it difficult to stay in the black itself and facing domestic competition as a result of loss of protection by the government. And on the international front QF have already joined alliance with Emirates and QF itself is not flying to as many cities as it used to. For MAS, this time around I do agree with Dr M that Khazanah will not be able to turn it around as it have been "trying" to do that for the past 12 years even with 70% stake and now with 100%, it will still not able to do anything and MAS will be costing the govt very very dearly for the future. Its no point to put in good money into bad. MAS already is deep in rm11 billion of doubt and Khazanah too faces a few billion in govt backed loans to MAS. Just imagine the total debt of MH/Khazanah of easily abote rm16 billion so far - imagine how much good it would have done with this billions - to pay for the tolls and fuel and food subsidies for the people instead of just yearly bailing out MAS.
  11. seems quite on this lately - well Tiger now have easily 6 to 8 fairly new A320s sitting idle on ground in KLIA and Changi - due mainly to the collapse of Tiger-Mandala and cut back on Tiger's services.
  12. one cannot just compare the "loudness" - as its obvious that a 77W GE engines are noiser as it generates 115,000 of trust each engine, whereas a A380 with 4 engines and each only produce less than 80,000 of trust. Similiarly a A330 uses a less powerful engines than the 777s.
  13. Yes - and believed the toal MAS and govt-backed debts for Khazanah and MAS exceeds even rm20 BILLION ! It would be cheaper and even cost effective to shut MH down and even start a brand new airline with much much less costs. And now even in the unlikely event that Knazanah can even turn MAS around, and if MAS does make rm300 million profit yearly - it would take MAS/Khazanah more than 50 years to clear its debt! However looking at this attempt to turnaround around for the upteen times,, its is more so now that MAS will continue to make losses even after this 2 years.
  14. Just look at this facts from the Star papers : In the past 10 financial years, MAS have lost money 5 times with the biggest loss of rm2.5 Billion in 31 dec 2011. Over the past 5 years Khazanah have pumped in rm5.7 Billion in 3 rights issue, and rm19 Billion in rights issue and government-backed debts to keep MAS running. MAS is burning rm5 million daily, and have debts or rm11.5 Billion.
  15. sigh...looks like MAS will never get back to real profitability and get rid of all the things that have been saddled with. Imagine under Khazanah for the last many years and even in the last 3 years, MAS have lost rm4.1 BILLION in 3 years - even before the 2 incidents! and it its Khazanah that have been "trying" for the past 12 years to turn MAS around and did it happen? What makes it sp special that this time they can do it "holistically" or any other ways. MAS is over saturated with too many staff, and very powerful Unions with political ties. This so called turnaround by Khazanah by paying out another rm1.4 billion to buy out the remaining shares and another do know how many millions or billion more to bail MAS out - will never work. The only real way is to shut the airline down and start afresh with new private owners and new management. and looks like more EPF funds were need to be used for this exercise to resue MAS again.....and again
  16. With this so-called "rescue and turn around plan" - looks like MAS will remain pretty much the same old same old MAS - after the initial furore and just like the warnings to all "getting it serious and right" will just be like "full of sound and furry, signifying nothing".
  17. looks like MAS will not be truly privitalised and its shares suspended today. Without a total restructuring and removal of any remnants from the previous by Khazanah and merely "requiring all parties to work together to overhaul the carrier" - will not be very effective. In fact, this is a good time to have MAS to be completely privitalised and if possible even sell some equity to a successful carrier - and at the same time remove the the very strong Unions. Otherwise its just another big bail out and MH will not be profitable in future.
  18. as in has been for the last decade or more, the Malaysian govt through its central bank will have itsa special purpose vehicle or its existing VPV to buy the planes and lease it to MAS. Its still uncertain whether the govt will really truly privitalised MH or just create another govt-owned company to run it; but MH do need to order its next aircraft to replace its existing 772s now.
  19. and for LCC, there's already Nok.
  20. Whatever it is, MH does need now to figure out and order the next aircraft to replace its B772s and possibly its A380s too - as it is running on very short time as its 772s are already over 14 years old and more. Its better for MH to get the new 777X or A350-1000 as it can cover its longer range routes and also if it can help improve yields over its A380s and in perhaps having more flights to say LHR per day than having a single or double A380 service. With just 6 A380s MH expenditure on maintenance for example, and fleet training will be higher than airlines that have a fleet of 20 or more A380s. And even for maintenance, a A380 have 4 engines as opposed to the 777X or A350 with just 2 engines for greater efficiency. Morever a A380 cannot be used to other routes/airports that MH flies to when the loads are down - whereas an aircraft like the 777X can do both ie fly on any MH destinations.
  21. doubt MAS can follow in JAL footsteps as even last couple of years there have been calls for MH to do so to cut its bleeding. The only thing now is to truly privitalised the airline with non-govt linked companies or agencies, and its best to let the present MH be dissolved and a brand new airline and company started and buy from the govt special vehicle that owns MH aircrafts. But at the same time critically now is for MH too to order its next long range planes to replace its B777s which are at least 14 years old now and above and - as any new order of the say new 777X or A350-9 or -10, will take 3 years before the first plane is delivered. A new name change is good too - for example to just Malaysian - as like Korean airlines before with its bad accident records and now is known as just Korean. Or just Malaysia Air. and if possible its best to sell off its 6 A380s = as there have been calls by some for MH to even have not even ordered the A380 at all. Its too large for MH and with just 6 is also not have the economies associated with so few.
  22. yes good idea just renamed MAS as just MALAYSIAN, after priivatisation.
  23. believed the A330neo have cannibalised some sales of its own A350s
  24. This 744 badly needs a good wash and scrub as its very dirty esp at the tail end. In fact MAS have a few 738s and 777s and even A330s in need of a good wash. Why cant MAS even keep its planes clean - as from the outside a dirty plane somehow conjures a image of nelgected maintenance too.
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