Sunday, September 11, 2011

MAS Unions to protest against the secret MAS AirAsia share swap deal

En Alias Aziz, President of MAS Employee Union (MASEU) said MAS Unions will protest against the secret share swap deal
PETALING JAYA: Three unions in MALAYSIAN AIRLINE SYSTEM BHD (MAS) representing about 15,000 employees will hold a picket over the national carrier’s share swap exercise with AirAsia.
Union representatives said on Thursday, Sept 8 they felt the deal would not benefit MAS, and that they believed the carrier’s new management team was planning the creation of a new brand within the airline as part of a union-busting move.
“We do not agree with the collaboration or the move to establish the new airline Sapphire (under the deal),” said MAS Employees’ Union (Maseu) president Alias Aziz.
“What we saw from the collaboration will benefit AirAsia and also there is a rumour that there a new airline company will be set up from the collaboration.
“We already have MASwings Firefly and Mas. So, what is the purpose of wanting to establish a new airline company,” he told reporters during news conference at Maseu office in Subang Jaya.
Maseu is joining the Airline Workers Union of Sarawak and Air Transport Workers Union of Sabah in threatening industrial action in the attempt to stop the share-swap from going ahead.
Alias also questioned why Maseu was not invited to give their opinions on the decision of the Mas supreme management about the collaboration.
MAS and AirAsia had on Aug 9 entered into the collaboration agreement to establish a framework to explore the possibilities of mutual co-operation.
To strengthen the collaboration and to further align their respective interests in AirAsia and MAS, Tune Air and Khazanah Nasional — the major shareholders of AirAsia and MAS respectively, have agreed to acquire from each other existing shares of both companies. – Bernama
By Yang Berhormat Wee Chee Keong, Ahli Parlimen Bukit Bintang
This was a good news for the national carrier MAS, its 20,000 employees and Malaysia but very bad news for Tan Sri Tony Fernandes, AirAsia X Sdn Bhd aka Fly Asian Express Sdn Bhd (FAX) of Rural Air Services (RAS) in Sabah and Sarawak fame and with a reported losses of about RM89.3 million in 2009 so far, in HERE.  Of course, it was also a very bad news for Tan Sri Azman Mokhtar, En Mohammed Rashdan Yusof (the newly appointed executive director of MAS), YB Tan Sri Nor Yacop and Tan Sri Md Nor Md Yusof, who were all so eager to get this secret share swap deal through. I don’t know which company they were trying to save by this secret share swap: MAS or AirAsia?  I leave it to you to judge from the glaring facts.
MASEU should also look into the ways in which 70% of the share in the very profitable arm of  MAS, MAS Catering Sdn Bhd, was cannibalised during the period when Tan Sri Md Nor Md Yusof was the MD of MAS and Tun Abdullah Ahmad Badawi the PM.
The modus operandi of the cannibalisation of MAS Catering Sdn Bhd was similar to this secret share swap. The full details of how the 70% of the MAS Catering Sdn Bhd’s share was cannibalised will be posted in a day or two if there is no new important events in the interim.
In the interim, I call upon the PM, YAB Datuk Seri Najib, to immediately step in to stop the said dirty secret share swap deal and remove the newly appointed directors of MAS who have no or very little experience in the aviation industry like Mohammed Rashdan Yusof of BinaFikir Sdn Bhd fame. By the way BinaFikir Sdn Bhd was responsible for WAU in 2002 and thereafter it was sold to Maybank Bhd for RM8 million in, of course, 2008, during Tun Abdullah’s Administration.

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