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flee

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flee last won the day on August 8 2009

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  1. AirAsia Group "joined at hip" with Airbus despite cancellations https://www.reuters.com/article/us-airasia-strategy/airasia-group-not-switching-to-boeing-despite-airbus-cancellations-idUSKBN29G0VE
  2. Airasia X has cancelled its order for 10 A350s in the Airbus Orders and Deliveries report for Dec 2020. https://www.airbus.com/aircraft/market/orders-deliveries.html
  3. I think you are 100% correct. It will be business as usual - there will be no major changes. Same old inefficient, incompetent and overpaid management. Wait for the next "turnaround" plan in 2 or 3 years.
  4. Malaysia Airlines seeks UK court to complete debt restructuring by 1Q https://www.theedgemarkets.com/article/malaysia-airlines-seeks-uk-court-complete-debt-restructuring-1q
  5. COVID-19 forces major change across Asia-Pacific airline industry Airlines in the Asia-Pacific region have two priorities at the moment – short term survival, and figuring out how they need to adjust to the post-COVID-19 industry landscape. The first is obviously the most pressing issue for now, but airlines also cannot lose sight of the longer-term picture. With many aircraft parked and international traffic in the doldrums, airlines are scrambling to negotiate new financing and are looking to defer as many short term aircraft deliveries as possible. The traffic and demand growth assumptions that have formed the basis of airline plans have been rendered obsolete by the pandemic, forcing them to launch business reviews as they recognise the need to streamline their operations. Across the Asia-Pacific region, some business models and markets are faring better than others. In many cases, governments are providing a vital lifeline. But despite encouraging signs in specific markets, the real disruption to the airline industry could play out over the next few years. More here: https://centreforaviation.com/analysis/reports/covid-19-forces-major-change-across-asia-pacific-airline-industry-534197
  6. AirAsia Sells Stake in India Venture to Tata for $38 Million https://www.bloomberg.com/news/articles/2020-12-29/airasia-sells-stake-in-india-venture-to-tata-for-38-million
  7. Floored by Covid-19, can SIA soar again? Fate of S’pore’s aviation hub rests on it Read more at https://www.todayonline.com/big-read/big-read-floored-covid-19-can-sia-soar-again-fate-spores-aviation-hub-rests-it
  8. Airbus to lose over $5 billion in orders under AirAsia X's proposed restructuring https://www.reuters.com/article/airasia-x-lawsuit-airbus-exclusive-idUSKBN28W0JK
  9. AirAsia will be back stronger in 2021, with international operations starting to open up within the next six months. AirAsia X is needed within Asia as a medium haul airline. The airline is talking to the Malaysian government about receiving a USD250 million soft loan over five years, with capital raising taking place over next two to three months. The airline will take all the planes on order, but it needs time to regrow. The new logistics company will need freighters. Talking at the CAPALive on 9-Dec-2020, AirAsia’s Group CEO Tony Fernandes spoke with CAPA’s chairman emeritus Peter Harbison. Some key highlights can be found below. https://centreforaviation.com/analysis/reports/capa-live-airasia---huge-data-opportunities---and-546649
  10. BA halts Sydney, Bangkok flights to Oct 2021, axes Kuala Lumpur https://www.executivetraveller.com/news/ba-halts-sydney-bangkok-flights-to-oct-2021-axes-kuala-lumpur I wonder when the flights will end - maybe after the Christmas and New Year holiday season? Better go an spot their B788s before they finish off their flights! Bye bye BA. Too bad Covid-19 killed any demand that remained...
  11. Lessor BOC Aviation says AirAsia X restructuring favours Airbus, calls for debt-to-equity swap https://www.theedgemarkets.com/article/lessor-boc-aviation-says-airasia-x-restructuring-favours-airbus-calls-debttoequity-swap
  12. AirAsia X raising RM300 million via call cash and RM200 million through share subscription from new investors https://www.theedgemarkets.com/article/airasia-x-raising-rm300-million-call-cash-and-rm200-million-through-share-subscription-new
  13. Malaysia Airlines' sister co Firefly to start jet ops from Penang to KK, Kuching, JB https://www.theedgemarkets.com/article/malaysia-airlines-sister-co-firefly-start-jet-ops-penang-kk-kuching-jb
  14. Boeing 737-42J(F) MSN27143 LN2457 9M-NEW My Jet Xpress Airlines delivery 12dec20 SZB-SGN-KUL ex OE-IWP
  15. AirAsia X proposes to reduce issued capital by 99.9pct and announces plans for fresh equity of RM500 million for a reset of the airline post-COVID-19 SEPANG, 14 December 2020 - Pursuant to representations made by certain creditors, AirAsia X Berhad (AirAsia X) intends to revise the proposed reduction of 90% of the issued share capital of AirAsia X to 99.9% of the issued share capital. This comprises a reduction of the issued share capital of approximately RM1,532.51 million to RM1.53 million. The credit arising from the proposed share capital reduction will be used to offset part of the accumulated losses. The proposed share consolidation which shall be undertaken following the proposed share capital reduction shall remain unchanged, i.e. a consolidation of every 10 existing AirAsia X shares into 1 AirAsia X share. Shareholders funds after the capital reduction remains negative but the consolidation of shares post- capital reduction will provide a platform to seek fresh funding from existing shareholders. For its fundraising, AirAsia X proposes to raise up to RM500 million comprising both a rights issue of up to RM300 million from existing shareholders and a share subscription of shares of up to RM200 million from new investors. This equity fundraising exercise is a critical component of the comprehensive restructuring and recapitalisation plan announced earlier and will support the implementation of the Group’s revised business plan. The operating environment is evolving and dynamic. There are several scenarios envisaged within our business plan and the funds to be raised are adequate for each of these scenarios. Prior to the fundraising however, AirAsia X must first secure the approval of its creditors for the debt restructuring scheme. Several lessors have intervened in the restructuring proceedings to register their objections to the scheme. AirAsia X wishes to reiterate that the debt restructuring scheme is a prerequisite for the recapitalisation of the Company by both existing and new investors and a comprehensive reset of the airline is required to provide a platform to rebuild and a vehicle attractive enough for investors to invest in. In the next few weeks, AirAsia X will continue to engage with creditors and hopes to further allay their concerns. The alternative to the scheme is a liquidation of the airline without any returns to creditors. Post-COVID-19, a reset with fresh equity and a repositioning of the airline as a regional medium-haul low-cost carrier will provide the best economic returns to creditors in a continued business relationship. The Company has received some indications of interest for investment in a restructured AirAsia X and will similarly continue to engage with these potential investors. https://newsroom.airasia.com/news/airasia-x-proposes-to-reduce-issued-capital-and-announces-plans-for-fresh-equity
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