Those who are patient in adversity and forgive wrongs are the doers of excellence
-Prophet Muhammad-
s.a.a.w.
s.a.a.w.
السلام عليكم
Peace be unto you
Sunday, 1 July 2012
Friday, 1 June 2012
Quote of the day : 02-06-2012
Life is really simple but we insist on making it complicated
-CONFUCIUS-
السلام عليكم
Peace be unto you
Saturday, 26 May 2012
Quote of the day : 27-05-2012
Have been busy learning a new trade.... Will update regularly soon... Thanks for your support..
This is a quote that is applicable to my current situation...
Pretend inferiority and encourage his arrogance
-SUN TZE-
السلام عليكم
Peace be unto you
Tuesday, 22 May 2012
Quote of the day : 22-05-2012
If you talk to a man in a language he understands, that goes to his head. If you talk to him in his language, that goes to his heart.
-NELSON MANDELA-
السلام عليكم
Peace be unto you
Sunday, 20 May 2012
Quote of the day : 21-05-2012
Let us sacrifice our today so that our children can have a better tomorrow
-ABDUL KALAM-
السلام عليكم
Peace be unto you
European Champions 2011-2012 : CHELSEA FC
Congratulations to Chelsea FC for their tremendous win over Bayern Munich to win the European Champions League of 2011-2012..
Hooray!!!!
 |
| European Champions League winners 2011-2012 |
السلام عليكم
Peace be unto you
Saturday, 19 May 2012
Friday, 18 May 2012
Quote of the day : 18-05-2012
POLICIES
There can be no keener revelation of a society's soul than the way in which it treats its children
-NELSON MANDELA-
السلام عليكم
Peace be unto you
Thursday, 17 May 2012
Quote of the day : 17-05-2012
Strive always to excel in virtue and truth
-PROPHET MUHAMMAD-
s.a.a.w.
s.a.a.w.
السلام عليكم
Peace be unto you
Wednesday, 16 May 2012
Quote of the day : 16-05-2012
A good head and a good heart are always a formidable combination.
-NELSON MANDELA-
السلام عليكم
Peace be unto you
Tuesday, 15 May 2012
Quote of the day : 15-05-2012
Our greatest glory is not in never falling but in rising every time we fall
-CONFUCIUS-
السلام عليكم
Peace be unto you
Monday, 14 May 2012
Quote of the day : 14-05-2012
If you're absent during my struggle, don't expect to be present during my success
-WILL SMITH-
السلام عليكم
Peace be unto you
Saturday, 12 May 2012
Quote of the day : 12-05-2012
It is better to sit alone than in company with the bad, and it is better still to sit with the good than alone. It is better to speak to a seeker of knowledge than to remain silent, but silence is better than idle words
-PROPHET MUHAMMAD (s.a.a.w.)-
السلام عليكم
Peace be unto you
Friday, 11 May 2012
MAS post-share swap
Well i see that the drama surrounding the supposed heist of MAS by outside perpetrators has not abated. It would seem some people in the know have evidence of further malpractice within MAS.Read here. I guess i will have to continue reading and look for clues as to what will be the next course of action by these alleged "crooks".. Stay tuned..
NOTE: Just had a quick check and Airbus has flown AK's next A320..(registration 9M-AQM). Status is still on order, which means it is not delivered yet. No pictures of it either. Something strange came up from my search. 9M-AQJ is flying with AK now but it was not delivered directly from Airbus to them. Apparently, it was delivered to Air Berlin and they sold/leased the plane to AK. However, some records show that the plane was delivered to FD instead. Need to confirm this..
السلام عليكم
Peace be unto you
Quote of the day : 11-05-2012
After climbing a great hill, one only finds that there are many more hills to climb.
-NELSON MANDELA-
السلام عليكم
Peace be unto you
Wednesday, 9 May 2012
Quote of the day : 10-05-2012
Too many people spend money they haven't earned, to buy things they don't want,
to impress people they don't like
-WILL SMITH-
السلام عليكم
Peace be unto you
Tuesday, 8 May 2012
English BPL : Liverpool vs Chelsea (4-1) 08-05-2012
POLICIES
How strange that a team can play tremendously one week and then woefully the next.
Monday, 7 May 2012
The MAS-AirAsia share swap (Part 5 - The finale)
Finally, the the curtain has come down on the drama surrounding the share swap (1). Now MAS can focus on being a true flag carrier that will make all Malaysians proud!!
Tuesday, 17 April 2012
Friday, 13 April 2012
AirAsia - Airbus reseller?
I read with interest on a posting by malaysiaairlinesfamilies today. Somewhere in that posting (here) it alleged that Tony Fernandes is no longer interested in running the airline but more interested in selling planes. Is that where his "extra" airbuses are going? The ones he isn't going to use to "grow" his airline or keep his fleet younger.
Thursday, 5 April 2012
The MAS-AirAsia share swap (Part 4)
Another blogger has pointed out a very interesting point in a recent post. The call for ordinary folk to band together and take to the streets and protest against the unfair treatment our flag carrier is facing. So far, it has been alleged that the airlines coffers (on the surface at least) has been plundered and been used for some personalities' fancies.
I read somewhere awhile back that our national airline has a cash reserve of ~MYR2.5billion left to keep it afloat for the time being.
Now, Air Canada just yesterday had its credit rating downgraded by moody's because its cash reserve was CAD2billion (at the end of 2011) and analysts said it would not last the financial year if costs were not trimmed.read this... A commentator on an aviation forum has said that a couple of new aircraft (Boeing 77W's) they were to receive this year was already sold to another party. Malaysia Airlines is pretty much in the same situation but it is alleged to have been "forced" to accept 2 new aircraft it didn't order..!! wow.. All thanks to a collaborative framework it was "seduced" into....
I have another take on this whole matter.... Could the fellows involved in all this share swap and CCF be trying really hard to save an airline that grew too fast for its own good at the expense of our national treasure (one that carries our country's great name everywhere our plane go..) AND simultaneously undo the initial WAU restructuring that has now proven to be disastrous for the airline.... Let's ponder on that angle for awhile...
السلام عليكم
Peace be unto you
Friday, 23 March 2012
Is Malaysian Airlines really that expensive?
I came across this article today, Read this, and this quote jolted my memory of an experience i had a couple of years ago. "...begun to falter amid charges of poor service, inflexibility, hidden charges, deceptive pricing and anti-consumer practices designed to squeeze the maximum from passengers."
Thursday, 22 March 2012
Lynas - is it really about the environment?
Is the Lynas issue really all about the environment? Have a look at their facebook page - Lynas FB - and you tell me.
Wednesday, 21 March 2012
The MAS-AirAsia share swap (Part 3)
Now i have written about the aircraft purchases of AirAsia and its possible financial commitments. Now lets look at what the supposed new Malaysian airlines entity should look like.
Have there been any hints lately? Well i could see some. I might be wrong but then again i am not a soothsayer just a common man.
Let's have a look at the Malaysian flag.
Now we have 4 colours.. Blue, red, white and yellow..
Now let's look at Malaysia's 3 scheduled airlines.
Do you see what i see? Could this be the future of our aviation industry? Is that what they are trying to say subliminally? We shall wait and see..
More coming along..
السلام عليكم
Peace be unto you
The MAS-AirAsia share swap (Part 2)
How much financial commitment does AirAsia have in the coming years?
Let me break this down a little.
Airbus has a 375 aircraft order from AirAsia (175 are A320 & 200 are A320NEO). What's this and how do they differ? Find out !
How many has AirAsia received? How many more to come? Where are these planes now? Ready for some maths?
- AirAsia has had 62 of these delivered to them since Dec-2005. Since then, 5 of these are now with Indonesia AirAsia and 1 is with Thai AirAsia.
- Thai AirAsia has had 23 delivered directly to them.
- Indonesia AirAsia has had 15 delivered directly to them. 3 of which has gone to AirAsia, just after the 5 that came from AirAsia. It has to be noted that the 5 that went to Indonesia AirAsia were older planes (2 were delivered in Sep-2006, 3 between May-Nov 2008).
- AirAsia Philippines has had 3 aircraft registered and ready for delivery. These are registration RP-C8189,-C8190,-C8191. The last known picture of RP-C8189 was 3 weeks after delivery here in Beijing. Why is it here? Were these aircraft leased from BOC aviation and the owners wanted them close by before releasing them? 1 of these (RP-C8190) has been given to Indonesia AirAsia in Jan-12. Source: Plane movements here (1a) & here (1b)
So in total, AirAsia as a group has had 103 aircraft delivered. Although, Airbus claims to have delivered 98 not including the AirAsia Philippines ones. Download the excel file on this page (1)
When are the remaining 272 aircraft to be delivered?
For 2012, they will take only 14 aircraft. Initially it was 24 but 10 has been pushed back to 2015 (the expected year the A320NEO delivery begins).Source: (1) . That leaves 58 A320 aicraft to be delivered in 2013-2015. Averaging out that's about 19 aircraft a year. At the current rate of growth since 2005, they were able to absorb 15 aircraft a year. How are they going to create enough flights to utilise the extra 4 aicraft a year?
If AirAsia is smart, then they should use the incoming aircraft to replace, by selling, the older ones in the fleet. As per what Singapore airlines are doing.
Some industry insiders say that AirAsia really utilises their aircraft to its maximum capabilities and then defer on payments for maintenance, repair & overhaul (MRO) works which results in aircraft not being in that great a shape.
How they came to know about this i'm not sure but they suggest that this this could mean their aircraft have a lower resale value or even no takers.
Regardless, they still have to come up with financing to pay for these incoming planes. It has been alleged that a Prominent Local Bank (PLB) is providing the financing for this and if AirAsia is to default then it could spell the end of the bank. It has been alleged that the ultimate aim of this CCF is to merge the 2 airlines into a new Malaysian Airlines. Therefore, the orders and such will be borne by the new entity. I have heard about this since the 39th AGM of MAS.
What purpose does this serve? If all these allegations are to be believed then it is to save an ailing empire of course. And believe it or not, it isn't MAS.
MAS has been sick but the actions taken to remedy the situation of late were not addressing the actual root causes as alleged here.
I have an idea of what the ultimate aim is and it was what was tried in Ireland but the Govt and EU blocked it.
Come back for more..
السلام عليكم
Peace be unto you
Tuesday, 20 March 2012
The MAS-AirAsia share swap
The mainstream media have been extremely quiet on this issue of late. Although, The Star did have a small box in the Parliament section today (21-03-2012) quoting YB WCK's concern being raised in the Parliament lobby. here
Now, why am i so interested in the unfolding of this event? Simply because i am an aviation enthusiast and anything affecting the Malaysian aviation industry draws my attention. Maybe i will write a little something on that...
Now, a little background into the main actors in this saga.
AirAsia : An airline incorporated in Malaysia in 1993 by DRB-Hicom as a charter airline. In 2001, it was sold to Tune Air Sdn Bhd who changed it into a scheduled low-cost carrier and has not loooked back since. The co-founder's are Tony Fernandes (TF) and Kamarudin Meranun (KM). These two along with Dato' Pahamin A. Rajab and Dato' Abdul Aziz Abu Bakar transformed AirAsia into its current award-winning form.
For more information - Profile of AirAsia .
MAS (Malaysian Airlines System) : Started life as Malayan Airways Limited in 1937, with operations starting in 1947. With the changing political landscape over the years, it went through a few name changes. It assumed it's current form in 1973 and became known as Malaysian Airlines. The company has always been a national treasure and an asset that has been (alleged by some and perceived by most people) mismanaged during its life.
For more information - Profile of MAS (Malaysian Airline System)
THE SHARE SWAP AND THE CCF (COMPREHENSIVE COLLABORATION FRAMEWORK)
Most people were caught unawares and the reactions were swift.
- Investment analysts downgraded the respective securities of both AirAsia and MAS. Source: (1) (1a)
- The staff at MAS were concerned about how their beloved airline was being managed. Source: (2)
- The proponents for fair competition jumped-in with their concern of anti-competition. Source: (3)
All this happened within a couple of weeks of the announcements of the share swap and CCF. Nobody seem to know what was going on.
On the surface, it seems that the deal is similar to one done in Ireland between 2006-2008 between Aer Lingus (the flag-carrier) and Ryanair (their low-cost competitor). Ryanair began buying shares in Aer Lingus until it purchased a 29.4% share of Aer Lingus then offered to buy the remaining shares at a 28% premium, with the Government holding on to their portion (25.4%). The government blocked that deal with the EU also having a say on the matter.
The main difference between the 2 cases is, Ryanair bought the shares in Aer Lingus in the open market at market prices paying cash, whilst AirAsia swapped shares at market prices without incurring any additional cost (other than the transactional ones) and dealing this in "secret".
The result of the Ryanair purchase of Aer Lingus has resulted in the flag carrier having to bite the bullet and made changes to streamline their operations and turn in a profit. Which they achieved in FY2010. In this case, Ryanair was an able competitor who was cash-rich and indeed helped push the flag carrier. Source: (4) I will have to dig further into this.
Why the comparison between Aer Lingus and Malaysia Airlines? Simple. AirAsia's modus operandi is modelled after Ryanair. One of AirAsia's director used to work for Ryanair and Aer Lingus which is reasonable as he has the experience working for the one of the most successful low cost airline.The consultant for AirAsia, AirAsia X, the share swap and CCF deal on the other hand is also working for MAS as Acting Commercial Head. Is that possible? Isn't that a conflict of interest? I guess that depend's on how you argue the case really. Conspiracy theories abound in the blogosphere as the common man is trying feverishly to stop any further "asset stripping" of our national treasure.
What has happened since th swap?
Since the swap the MAS BOD has included some AirAsia figures, 2 livery changes (the current one i'm not very agreeable to, for patriotic reasons but something on that later on) and route rationalisation that has seen MAS saving AirAsia X from its alleged losses on certain routes. YB WCK has alleged that MAS footed the bill for "rescuing" the stranded passengers who had booked AirAsia X flights for cancelled routes. Source: (5) If the allegations are true, then this would be contradictory to the reasons for the CCF in the first place. Source: (6) It could also be the case that MAS was paying this in return for AirAsia pulling these routes.
A blog set-up by retirees of Malaysian Airlines has just alleged that the real reason for this CCF is to help bailout AirAsia. Their investigation points to AirAsia expecting to incur huge capital expenditure for planes due to be delivered in 2012 and 2013. The "invisible hands" behind this deal they alleged are a prominent local bank and a government investment body. Source: (7)
The blog spews allegations of a faltering empire and the cronies that gather to save it from the brink of disaster. All with the help of a national asset. I will dig deeper into the financial commitments of AirAsia (in particular the aircraft purchases) and present the available information to substantiate some of their claims.
Come back again...
السلام عليكم
Peace be unto you
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