fair for Capital A's shareholders but questionable for AAX's shareholders. The fact that AAX's set of advisors is so much different from Capital A's top tier advisors and the sudden half-way changes to advisors (i.e. from AmInvest to Interpac) already tell you most of the story, either they dont buy in to the numbers post acquisition or the consideration for the acquisition just dont make sense.

when amazon started the online concept was still new to everyone. they have improved tremendously throughout their business journey.

while on the other hand, the non-aviation businesses of Capital A are still in infant stage. bear in mind that capital a is very late to this game. they have to run 10X faster than their competitors in order to catch up. they have to compete with many well established giants in the respective areas, do they have the capacity or funds to do so?

you could say by way of fundraising, but would people with sane mind really put millions or billions into developing something which is already in existence and keep improving.

or this is just some gimmick for them to prolong the inevitable.

Just my personal opinion and am trying to look at it in a more logical way.

All their non-aviation businesses depend heavily on their own aviation business, i.e. ticket sale, belly space, travel insurance, card transaction, in-flight meal, aircraft services etc. They do good if the aviation side is performing and vice versa. Basically, they are just internal departments providing supports to the core business and don’t have much external income. But they put these businesses into different entities to create ‘value’.

Just like a company carving out their own HR department and form an entity to house this department. They call it best HR advisor/provider in town and valued it at an absurd amount, but then all revenues are still from the said company. If the said company stop giving this entity revenues, can it survive on its own? If no, what sort of value does it have?

Balian de Ibelin
all CapA non-aviation have extremely low profit margins.
Extreme high risk coz slight GDP downtrend and whole thing "non-aviation" just collapses

stony wanna separate his businesses into 2 groups, i.e. aviation and non-aviation so that his non-aviation businesses could be valued at much higher.

his rationale is that people failed to see the value of his non-aviation businesses as they always link airasia with aviation only.

bruh, your non-aviation businesses perform so poorly. what value are you talking about?

1 quarter half a billion of losses. 1H2024 already 0.8 billion of cumulative losses. might as well close shop.