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Saving Airasia Group and Airasia X: Covid-19 Recovery Thread

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6 A330's are in the process of being returned to the Lessors

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AirAsia to return planes to lessors, shrink fleet - CEO

https://www.thestar.com.my/business/business-news/2020/10/08/airasia-to-return-planes-to-lessors-shrink-fleet---ceo

AirAsia X to shed aircraft and restructure debts

https://www.flightglobal.com/strategy/airasia-x-to-shed-aircraft-and-restructure-debts/140489.article

"AirAsia X plans to operate a fleet of “up to 25 [Airbus] A330 aircraft” and says it “remains engaged with all key business partners” over contracts and agreements. Cirium fleets data shows that Air Asia X has a fleet of 23 A330-300s, 21 of which are in storage. The carrier owns five A330s and leases the rest from various lessors. It also has orders with Airbus for 10 A350s, 76 A330neos and 30 A321XLRs."

"We are not going to buy new planes and we are going to return as many as we can. I estimate by the end of next year we'll be flying 180 planes," Fernandes told reporters. The group currently has 245 aircraft.

There are another 16 A330ceo/neo with Thai AirAsia X and PT Indonesia AirAsia Extra, making total of 39 A330ceo/neo for AirAsia Group with one more due to delivery HS-XTM. I guess they will cancel HS-XTM delivery. Draw down early birds and return those BOC Aviation ones and many others. Also sell off remaining owned five A330s.....

Removal of 65 A320ceo 9M-AF*, AH* series will be first to go....and older ones in AirAsia India and Philippines.

Battling for survival now.........

Here is HS-XTM doing flight test when COVID-19 pandemic at its peak back in April 2020. Photo Credit: Ching Ho & Paul Y. M. Chow

71119_1587207554.jpg

69340_1587569635.jpg

Edited by JuliusWong

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14 hours ago, JuliusWong said:

AirAsia to return planes to lessors, shrink fleet - CEO

https://www.thestar.com.my/business/business-news/2020/10/08/airasia-to-return-planes-to-lessors-shrink-fleet---ceo

AirAsia X to shed aircraft and restructure debts

https://www.flightglobal.com/strategy/airasia-x-to-shed-aircraft-and-restructure-debts/140489.article

"AirAsia X plans to operate a fleet of “up to 25 [Airbus] A330 aircraft” and says it “remains engaged with all key business partners” over contracts and agreements. Cirium fleets data shows that Air Asia X has a fleet of 23 A330-300s, 21 of which are in storage. The carrier owns five A330s and leases the rest from various lessors. It also has orders with Airbus for 10 A350s, 76 A330neos and 30 A321XLRs."

"We are not going to buy new planes and we are going to return as many as we can. I estimate by the end of next year we'll be flying 180 planes," Fernandes told reporters. The group currently has 245 aircraft.

There are another 16 A330ceo/neo with Thai AirAsia X and PT Indonesia AirAsia Extra, making total of 39 A330ceo/neo for AirAsia Group with one more due to delivery HS-XTM. I guess they will cancel HS-XTM delivery. Draw down early birds and return those BOC Aviation ones and many others. Also sell off remaining owned five A330s.....

Removal of 65 A320ceo 9M-AF*, AH* series will be first to go....and older ones in AirAsia India and Philippines.

Battling for survival now.........

Here is HS-XTM doing flight test when COVID-19 pandemic at its peak back in April 2020. Photo Credit: Ching Ho & Paul Y. M. Chow

71119_1587207554.jpg

69340_1587569635.jpg

Will they remove their A321neo as well? 

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This flew under the radar.

Mavcom settles suits with Airasia, Airasia X over RM2m fines

https://www.malaysiakini.com/news/543467

"On Sept 14, before two separate Kuala Lumpur High Courts, the parties recorded consent judgments in the matter, entailing Airasia and Airasia X each to pay the RM2 million fines in 18 instalments."

Wondering now if AirAsia is able to meet the obligation. RM113,000 per month for 18 months.

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AirAsia wins Malaysia state backing for $242m COVID lifeline

https://asia.nikkei.com/Business/Business-trends/AirAsia-wins-Malaysia-state-backing-for-242m-COVID-lifeline

> Won backing of RM1 billion from Danajamin Prihatin Guarantee Scheme, operated by Danajamin Nasional

> Will return some of AirAsia's fleet of aircraft to its lessors

> In discussion with Airbus to reduce pending orders of narrow-body A320 and A321 aircraft as well wide-body A330

> Proposed to cut narrowbody fleet to 180 planes by the end of 2021 compared with 245 now

> Will cut further 400 jobs, on top of announced 2,800 jobs in first and second round of redundancy. 

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Interesting to note that Airasia has already made job cuts while Malaysia Airlines are still not letting go of employees to cut overheads. No wonder creditors are not too pleased to take any haircuts when the airline itself isn't doing very much to help itself. I think that currently, Airasia is fighting to save itself and loss making units like Airasia Japan, Airasia India and Airasia X are left very much to themselves to manage their problems. That was why Airasia Japan was closed down - its losses are small and its recovery prospects are slim. No point throwing good money at them when the money is better spent on Airasia itself.

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MoF denies approving govt financing or guarantee to AirAsia

KUALA LUMPUR (Oct 13): The Ministry of Finance (MoF) has denied approving any government financing or guarantee to any airline in response to a report that low-cost carrier AirAsia Group Bhd had secured credit from the government.

“The MoF would like to clarify that it has not approved any government financing or guarantee to any airline,” said an authorised MoF spokesperson.

Nikkei Asia reported today that AirAsia Group had secured RM1 billion (US$242 million) credit from the Malaysian government.

https://www.theedgemarkets.com/article/mof-denies-approving-govt-financing-or-guarantee-airasia

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AirAsia may have to look for private financial support to stay afloat

KUALA LUMPUR: AirAsia Group Bhd may have to look for non-government means of financial help to stay afloat after the Ministry of Finance (MoF) dismisses reports that the low-cost airline has secured a large loan from it.

https://www.nst.com.my/business/2020/10/632169/airasia-may-have-look-private-financial-support-stay-afloat

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AAX: The last stand

A MASTER reset at the loss-making and debt-laden AirAsia X Bhd (AAX) has been a long time coming.

It could have dragged its financial woes on and on but the Covid-19 pandemic, which has thrashed the aviation industry globally, may very well have forced the hand of low-cost, long-haul associate of AirAsia Group Bhd. It could still be a blessing in disguise, depending on how the restructuring plan for its RM63.5bil debt turns out.

The pandemic, which has grounded the airline’s entire fleet since the second quarter of 2020, has delivered the hard reset button to AAX to do some soul searching and to right its wrongs before it prepares for take-off again.

From the very beginning, sceptics had doubted whether a business model of a long-haul budget airline would work, seeing how the late Sir Freddie Laker’s Skytrain went bust in the 80s.

Thirteen years down the road, it would seem like AAX might go down the same road and prove its critics right.

https://www.thestar.com.my/business/business-news/2020/10/17/star-exclusive---aax-the-last-stand

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2 hours ago, flee said:

AAX: The last stand

A MASTER reset at the loss-making and debt-laden AirAsia X Bhd (AAX) has been a long time coming.

It could have dragged its financial woes on and on but the Covid-19 pandemic, which has thrashed the aviation industry globally, may very well have forced the hand of low-cost, long-haul associate of AirAsia Group Bhd. It could still be a blessing in disguise, depending on how the restructuring plan for its RM63.5bil debt turns out.

The pandemic, which has grounded the airline’s entire fleet since the second quarter of 2020, has delivered the hard reset button to AAX to do some soul searching and to right its wrongs before it prepares for take-off again.

From the very beginning, sceptics had doubted whether a business model of a long-haul budget airline would work, seeing how the late Sir Freddie Laker’s Skytrain went bust in the 80s.

Thirteen years down the road, it would seem like AAX might go down the same road and prove its critics right.

https://www.thestar.com.my/business/business-news/2020/10/17/star-exclusive---aax-the-last-stand

As said many times, D7 business model with a333 is basically not sustainable.

 

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3 hours ago, KK Lee said:

As said many times, D7 business model with a333 is basically not sustainable.

Your comment suggests to me that you have not read the article in the above link.

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Asset offloading commenced:

AirAsia A320-214 9M-AFB has left the fleet, now with Laudamotion as OE-LMR. 9M-AFC is also in preparation for returned to lessor onwards to Laudamotion. OE-LMT has been allocated. 

 

Edited by JuliusWong

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