Naim 6 Report post Posted October 4, 2008 Malaysia's AirAsia to be taken private - report Sat Oct 4, 2008 12:32am EDT KUALA LUMPUR, Oct 4 (Reuters) - Malaysian budget carrier AirAsia (AIRA.KL: Quote, Profile, Research, Stock Buzz) will soon be taken private, a business weekly reported on Saturday, citing unnamed sources. AirAsia's controlling shareholder is Tune Air Sdn Bhd, which held 30.7 percent of the company's shares as at end-March this year, the Edge said. Tune Air's shareholders are AirAsia Chief Executive Officer Tony Fernandes and AirAsia Executive Director Kamarudin Meranun, the report added. "(AirAsia) has generated a lot of interest but there has always been scepticism about its business model from investors looking at short term returns," the weekly quoted an unnamed source as saying. "This has frustrated the major shareholders." Officials at AirAsia, which has a market capitalisation of around $850 million, could not be reached for comment. Airlines around the world are set to post losses of $5.2 billion this year as high oil prices and weaknening demand take a toll, the International Air Transport Association (IATA) estimates. Since the start of the year, AirAsia shares have lost 23 percent, outperforming the benchmark Kuala Lumpur Composite Index .KLSE which has fallen 30 percent. (Reporting by Liau Y-Sing; Editing by Lincoln Feast) http://www.reuters.com/article/rbssIndustr...R35988420081004 Share this post Link to post Share on other sites
KK Lee 5 Report post Posted October 4, 2008 Typical of plc in Malaysia, if the company is profitable, the major shares holders will take it private. If the trend persists, bursa will be left with GLC and junks. Share this post Link to post Share on other sites
Gavin Andrew David 6 Report post Posted October 4, 2008 Is this company profitable ? Hmmm ... Share this post Link to post Share on other sites
KK Lee 5 Report post Posted October 4, 2008 Is this company profitable ? Hmmm ... Major shareholders won’t take it private if they don’t see value in it. On the other hand, local weekly newspaper is not unknown to use by insider to churn up stock price e.g. numerous news about acquisition of proton by Volkswagen Share this post Link to post Share on other sites
Ashmil Abd Ghani 0 Report post Posted October 7, 2008 Emm when we talk about this issue..Suddenly I recall my memory about MAS.. We all know government still remain as major shareholder but, Khazanah has plan to reduce its percentage on MAS company share..To open any foreign investor ( Middle East Investor been quoted before) to improve MAS quality..Any new rumors about that now..??? Share this post Link to post Share on other sites
Naim 6 Report post Posted October 7, 2008 Tuesday October 7, 2008 MYT 8:22:56 PM Tune Air mulls privatisating AirAsia at RM1.35 per share PETALING JAYA: Tune Air Sdn Bhd, the major shareholder in AirAsia Bhd, is mulling plans to take the low-cost carrier private at an indicative price of about RM1.35 per share. AirAsia said in a statement to Bursa Malaysia on Tuesday that Tune Air’s RM1.35 per share plan was subject to change depending on the market conditions at the point of decision. It added Tune Air was continually exploring various options to optimise and expand its operations, especially during the current times due to the volatile fuel prices, business environment and the financial and capital markets. “One option being considered by Tune Air is a potential privatisation exercise of AirAsia at an indicative price of about RM1.35 per AirAsia share, which is subject to change depending on the market conditions at the point of decision,” it added. It said the option was still being developed and it was subject to the availability of financing on acceptable terms from financial institutions and other potential investors in the current challenging times, as well as conducive market and industry conditions. AirAsia share price closed two sen higher to RM1.27 yesterday. http://biz.thestar.com.my/news/story.asp?f...mp;sec=business Share this post Link to post Share on other sites
Pieter C. 5 Report post Posted October 20, 2008 AirAsia To Be Taken Private October 6, 2008 Malaysian budget carrier AirAsia will soon be taken private, a local business weekly reported at the weekend, citing unnamed sources. AirAsia's controlling shareholder is Tune Air, which held 30.7 percent of the company's shares as at end-March this year, the Edge said. Tune Air's shareholders are AirAsia chief executive Tony Fernandes and AirAsia Executive Director Kamarudin Meranun, the report added. "(AirAsia) has generated a lot of interest but there has always been scepticism about its business model from investors looking at short term returns," the weekly quoted an unnamed source as saying. "This has frustrated the major shareholders." Airlines around the world are set to post losses of USD$5.2 billion this year as high oil prices and weakening demand take a toll, the International Air Transport Association (IATA) estimates. Since the start of the year, AirAsia shares have lost 23 percent, outperforming the benchmark Kuala Lumpur Composite Index which has fallen 30 percent (Reuters) Share this post Link to post Share on other sites
Pieter C. 5 Report post Posted October 20, 2008 AirAsia Sees Strong Demand Despite Crisis October 7, 2008 Malaysian airline AirAsia expects stronger passenger growth next year as it adds new routes and planes, saying the darkening economic outlook will boost demand for its budget flights. Southeast Asia's largest low-cost airline plans to add nine new aircraft in 2009 to its existing fleet of 72 planes, said chief executive Tony Fernandes. "I am very optimistic. I mean you just saw easyJet came out with some very aggressive numbers on passenger growth, and Europe is in a much worse position than Asia," he told reporters. The British low-cost airline said on Monday passenger volumes grew 20 percent in September despite the global credit crunch triggered by the US mortgage crisis, but it also warned of slowing demand in winter months. "I am not saying that the market won't shrink, but I am saying that AirAsia is in a strong position to capitalize on whatever economic situation," said Fernandes. "If there is a slowdown, people who used to fly on other airlines may start flying on us. Business would still go on, we are not in an armageddon situation," he added. AirAsia, which also has operations in Thailand and Indonesia, reported a rise of 20 percent in second-quarter passenger volumes to 2.82 million, company data showed. Asked about newspaper reports that he planned to take AirAsia private and de-list the company from Bursa Malaysia, Fernandes declined to comment. "An appropriate statement will be made by AirAsia and Tune Air (its major shareholder) when it is appropriate," he said. (Reuters) Share this post Link to post Share on other sites
