JuliusWong 0 Report post Posted November 20 4 hours ago, jani said: Latest rumor is that the new CEO has also resigned.. https://www.nst.com.my/business/corporate/2023/11/980279/sks-airways-ceo-dzuleira-abu-bakar-resigns Quote SKS Airways CEO Dzuleira Abu Bakar resigns? By BILQIS BAHARI - November 20, 2023 @ 12:53pm SEPANG: Drama continues to unfold at new airline SKS Airways Sdn Bhd as its recently-appointed chief executive officer (CEO) Dzuleira Abu Bakar is believed to have resigned. It is learnt that the former head of Malaysian Research Accelerator for Technology and Innovation had tendered her resignation last week. Business Times has contacted SKS Airways for comment. Earlier today, Business Times reported that SKS Airways Sdn Bhd is scrambling to secure funding to pay for the delivery of 10 leased Embraer E195-E2 aircraft and is believed to have halted flight operations to two of the destinations it flies to, Tioman and Redang. SKS Airways was to start taking delivery of the first Embraer aircraft in January 2024. It is understood that the delivery of the carrier's first E195-E2 aircraft has been delayed to the second quarter of 2024 from January 2024. SKS Airways is the second airline to face financing difficulties in the last month. On October 8, 2023, Business Times reported that, MyAirline Sdn Bhd announced the departure of its CEO Rayner Teo. A little over a week later, airline abruptly halted operations leaving thousands of passengers stranded. Woah, could it be possible that Malaysia will witness the collapse of two airlines within a year?? Share this post Link to post Share on other sites
JuliusWong 0 Report post Posted November 20 Btw, if SKS Airways does collapses, Scoot will remain the only E2 operator in the region. As far as I know Embraer has visited Malaysia and the region many many times, and they are/were hoping to sign up more airlines for its E2 family. With only nine E2 operating in the region, I am not sure if Embraer is willing to invest its own MRO company, maybe SIA Engineering can take it up. Share this post Link to post Share on other sites
Craig 0 Report post Posted November 20 5 hours ago, jahur said: If the SKS e jet program collapses it may derail part of the gov's plan on SZB unless MAG is willing to stay on and follow up its plan. The whole SARP banked on SKS and MAG's SZB plans? I'd have thought they invited AK/OD along as well. 5 hours ago, Pall said: Doubt MAG is willing to invest in SZB. Whatever announcements made before for SZB jet ops by MAG was merely running on the hype made by govt to allow jet ops from the city airport. Operating from SZB to routes already operated by MAB from KUL might be seen as cannibalism. The economics of scale might not work. Fares ex-SZB are generally 20-50% higher for the same airline group ex-SZB. And let's not forget other regional carriers who may be interested to serve SZB as an O&D (SQ Group comes to mind). Share this post Link to post Share on other sites
jahur 0 Report post Posted November 20 1 hour ago, Craig said: The whole SARP banked on SKS and MAG's SZB plans? I'd have thought they invited AK/OD along as well. Fares ex-SZB are generally 20-50% higher for the same airline group ex-SZB. And let's not forget other regional carriers who may be interested to serve SZB as an O&D (SQ Group comes to mind). They did but it seems AK is waiting it out. As for OD they have no interest in regional jet operations. Currently MAG's SZB regional jet operation will not even involve FY. If SKS exits that means theres vacant space for another half. Only issue pulling back now is the reliability issue pertaining the PW leaps affecting both a220 and e2s. Share this post Link to post Share on other sites
Craig 0 Report post Posted November 20 8 minutes ago, jahur said: They did but it seems AK is waiting it out. As for OD they have no interest in regional jet operations. Currently MAG's SZB regional jet operation will not even involve FY. If SKS exits that means theres vacant space for another half. Only issue pulling back now is the reliability issue pertaining the PW leaps affecting both a220 and e2s. Sort of makes sense for MH (hopefully not another subsidiary) take over SZB regional jet operations. FY can focus on secondary hubs/routes (ex-PEN/BKI/KCH routes plus KUL-AOR/TGG etc.?) around the country with single cabin planes where as MH will focus on greater KL (KUL & SZB) flights with 2-cabin planes. I don't know how well FY's SZB flights are doing but they are selling it at a very high premium compared to MH's KUL flights. If I have to guess, FY is doing quite decent on SZB-PEN/XSP and maybe KBR. Share this post Link to post Share on other sites
JuliusWong 0 Report post Posted November 21 (edited) Quote SKS Airways asks Middle East carriers to fund Embraer E195-E2 lease By BILQIS BAHARI November 21, 2023 @ 9:33am KUALA LUMPUR: SKS Airways Sdn Bhd has travelled all the way to the Middle East to seek funding for the lease of 10 Embraer E195-E2 aircraft signed with aircraft lessor Azzora Aviation Holdings. It is learnt that SKS Airways had approached two giant airlines in Dubai and Jeddah a few weeks ago to become an investor by purchasing a stake in the cash-crunch carrier. The airline is also believed to have asked Malaysia Aviation Group (MAG) for funds, although MAG and the two Middle Eastern based airlines are not keen to invest. "The fact that they have gone to these airlines is telling by itself. If they were to be compared with MYAirline Sdn Bhd, MYAirline was in a much better financial position but somewhere along the way they burned a lot of money. "The announcement of SKS Airways' regional jet plan ties in very nicely with the Subang Airport Regeneration Plan (SARP) announcement. Narrowbody airplanes will also be allowed to fly out of Subang Airport again but who came up with this idea?" the source asked. https://www.nst.com.my/business/corporate/2023/11/980664/sks-airways-asks-middle-east-carriers-fund-embraer-e195-e2-lease Hahahahaha? The last statement...... 😂 Edited November 21 by JuliusWong Share this post Link to post Share on other sites
flee 5 Report post Posted November 21 Sounds very much like they signed the lease agreement when they have not even sorted out their finances or business plan. This airline is doomed for failure! Share this post Link to post Share on other sites
