They get you to buy a memberhip for unlimited pass. They then cancel flights, offering 6 months for refund or instant credit. Now what? I am sure this is against what the Malaysian govt is saying.
In liquidation is for now-defunct Malaysian Airline System Bhd (MAS) and not Malaysia Airlines Berhad (MAB). MAS is old company and MAB is a separate legal entity.
KUALA LUMPUR: AirAsia Group Bhd dipercayai memperoleh pinjaman RM300 juta dari Sabah Development Bank Bhd (SDB) untuk mengekalkannya di tengah-tengah wabak Covid-19.
Pemerhati pasaran yang bercakap dengan syarat tidak mahu disebutkan namanya mengatakan syarikat penerbangan tambang rendah (LCC) kemungkinan akan menggunakan pinjaman itu untuk membiayai operasi tempatannya termasuk membayar gaji pekerja dan penyewaan pesawat.
TF has always been critical towards MAHB and demanding them on a lot of things while they had the upper hand. Now tide has change, what do you think?
Yes, a love hate relationship with more hate. Moreover both MAHB and MAS are partly owned by parent company, Khazanah. Makes perfect sense to put their interest on MAS especially when it is only a RM78 million bet. With or without funds, I believe AAX is gone due to 3rd virus wave which is very severe now. Even thinking how RM300 million will help alleviate the 60 plus billion debt will make one "chuckle",
I believe Khazanah will wait for the next move. AAX fold is almost certain now and no Investors will want to burn their cash to save a debt. It is the same when Lehman Brother asking Warren Buffett to bail them out. Not going to happen.
Instead, axing AAX will breathe new life for MAS. Khazanah can also create a low cost subsidiary fast (just like Cathay Pacific on Dragon) to seal its dominant in low cost. Kill the golden goose? AAX was a golden goose, now it is a lame duck.
Things will get ugly now and I realize I talked too much. Maybe it's Saturday.
AAX D7 is going to debt restructuring and unable provide any cash/credit/move flight refund to me. I am one of his creditor now, it is owing me about RM200. Can i propose AAX issue right shares. And give me 5000 shares of AAX (based on RM0.04/share). So i can sell it at open market to get back my $$... # i still rugi brokerage fee though. #refund
Hotels bankrupt, airlines bankrupt, construction companies bankrupt, travel agencies selling fish now, universities begging for students.
Meanwhile the only stocks thriving on Bursa are Gloves with BILLIONS of ringgit of profits because of great companies like Supermax and Top Glove. Phenomenal.
Just put under receivership and set up another airlines, don't waste the time focusing on rescue plan as interested parties are trying to protect themselves, resulting in prolong action plan where time is an essence.
If AAX manages to survive this ordeal AAX will be great coming back. Having said that MAS should close shop for good with AAX playing as the major Airline operating from Malaysia. And if someone wants service or massage seat or flatbeds while flying they there are tons of planes in the open market to choose from.
In return for 100,000 jobs for State which is weird. I don't understand given business modality, company to slash jobs not increase it and 300 million loan is debt adding.
How funny TF is trying to wipe out creditors’ debts instead of shareholders’ equity in an imminent bankruptcy. If it works they wouldn’t have called it bankruptcy in the first place. TF is just delaying the imminence.
Less people can fly for sure as AA group becomes aa. If major SH is not showing his own commitment to pump in more $$$ via right issues, the restructuring exercise will be extremely tough and may have already classified under pn17 which should have been included if not mco.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
jamishoot
81 posts
Posted by jamishoot > 2020-10-21 12:50 | Report Abuse
Dear loyalists. Good news for avaition .... airlines test new app’ to verify passangers’ health status ... a new breather !!! On CNN