Monday, August 29, 2011
Tony-controlled MAS management to close Fireflyz and give Airasia monopoly by default?
AirAsia’s 2nd quarters net profit was down by 47% to RM104.26 million against RM198.93 million deferred tax charge. MAS posted a net loss of RM526.8 million. MAS called off its media briefing at the eleventh hour yesterday due to “unforseen circumstances” but continued with its analyst briefing. Tan Sri Tony Fernandes told analyst in a conference yesterday that the airlineswill be presenting their case to the Prime Minister in his bid to reverse airport operator MAHB’s to increase passenger service charge, aircraft landing and parking charges. As usual the press report on AirAsia was very rosy and will be flying to another majestic height and the future of MAS, of course, was very very bleak. .
With the consistent reported net profits of AirAsia year after year but no dividend has been paid to its shareholders. Yet we have been constantly told by Tan Sri Tony Fernandes that all is well with AirAsia despite of its past records of owing more than RM125 million in airport tax, which the passengers have duly paid to AirAsia, as the collecting agent for MAHB. Now it was reported in the Star that AirAsia’s profit was down by RM32.7 million due to “deferred” tax charge. With so many rosy reports, I have my doubts on the losses.
I wonder whether it was connected to airport tax and others. Common sense tells us that when a company is doing so “well” year after year, it should give out dividend to tis shareholders but not AirAsia. But not in the case of AirAsia. However, it can afford to sponsor Lotus, football team in America and now buying QPR in UK but its shareholders can only enjoy the performance in the share market especially from 21 July 2011 until it was suspended prior to its suspension before the famous “share swap”, .
Now Tan Sri Tony wants to reverse MAHB airport charges but he never took actions to reverse the abnormal charge of RM10 for check in over the counter, refunding airport taxes, fuel charges and other charges (other that fare) for those who were not able to travel. He must be reminded of the proverb “charity begins at home”.
Tan Sri Tony Fernandes can just order MAHB to stop building aerobridges in the new KLIA 2 and MAB and Khazanah Nasional Bhd had to bow to him. MAHB aerobridges are no longer a luxury but a necessity for all new airports in the world for all passengers including the elderly and disabled. But MAHB and Khazanah Nasional Bhd have only “YES SIR” in their vocabulary when its come to Tan Sri Tony Fernandes, . Now he is trying to order the PM what to do. PM should show Tan Sri Tony Fernandes the door over issues concerning aviation industry as he has no locus standi to talk about it due to AirAsia’s “rosy” records, which I have posted here and spoke about in Parliament.
MAHB and Khazanah Nasional Bhd: Please give a second thought to the elderly and the disabled even if you had to kow tow to Tan Sri Tony Fernandes, a good friend of yours. Public interests come first.
Tan Sri Fernandes is not only the top CEO in Malaysian but a genius in his ability to devise a scheme for AirAsia to be able to owe airport taxes now “deferred” taxes and etc. Lets see whether he can only “order” Tan Sri Azman Mokhtar to buy the 10% share in AirAsia X Sdn Bhd, previously known as Fly Asian Express Sdn Bhd.
There was a sudden twist that Tan Sri Tony Fernandes and Dato’ Kamarudin Meranum of AirAsia and AirAsia X Sdn Bhd will be leaving MAS exco within the next two or three weeks. Why another two or three weeks? Both of them should not be allowed to be any where near MAS because of the glaring conflict of interests as both of them are owners of AirAsia X Sdn Bhd, which is the main competitor to MAS for international destinations, . But I am sure that YB Tan Sri Noor Yacob and the Khazanah management may see otherwise. I leave it to you to come to your own conclusion if Khazanah Nasional Bhd were buy the said 10% share.
I have been informed that so after the “SHARE SWAP” exercise many meetings have been held by MAS exco, where Tan Sri Tony and Dato’ Kamarudin have participated, and drastic decisions have been made with regards to MAS important operational issues, Firefly and etc. I hope that they were made in the best interests of MAS alone. Following the trend set by certain news portal and MSM, based on reliable sources another blogger, Another Brick In The Wall, will be posting something on it, .
Sorry the posting on LSG Sky Chef Brahim Sdn Bhd, which has taken over the operation of catering and other services from MAS, had to be deferred for a few more days due to the fast current development after the MAS-AirAsia Share Swap, which had to be exposed before MAS is cannibalised further.