Air Asia vs Mas

data is as of 1st quarter 2011

Airasia	Mas
Share increase better than MAS	an asset backed corporation
paid up capital stands RM 2.76 billion with RM 54 billion as Capital Commitments.	paid up stands at RM 3.384 billion n a fixed asset value of RM 8.4 billion: net asset is at RM 6.962 billion, where cash constitute RM 2.086 billion (an asset backed corporation)
debts 7.7 billion with cash balances 1.7billion (when its capital commitment is 19 billion) cash trove raised 6 fold from approximately 300 million to 1.7 billion but its debts skyrocketed from 1.05 billion in 2006 to 7.7 billion in 2010, an increase of 700% in 4 years’ time.	..
owed Malaysia Airports over RM 65 million. Not yet paid to the government. cannibalizes the government subsidies. when Air Asia FAKS gave up Rural Air Services (RAS) PREMATURELY, Khazanah did not demand for the return of the subsidy of RM65 million from FAKS. Khazanah did not demand for the payment of RM35 million, which was incurred by MAS to make the 7 aircraft airworthy for RAS, from Air Asia FAKS	prohibited to lower down its fair. MAS were not allowed to compete with Air Asia because of its different class and capabilities. Tony was quick to protest of MAS plan to start their own low cost carrier as it would not be fair to Air Asia.
annual turnover only about RM1.1 billion and annual operating turnover is RM 3.948 billion	annual operating turnover is RM 12.98 billion
operating revenue from airline operation is at RM 2.839 billion.	operating revenue from airline operation is at RM 11.649 billion
For the second quarter ended June 2010, Air Asia posted a net income of RM198.93 million	MAS suffered a net loss of RM532.73 million.
Tony become the single biggest shareholder in MAS with 20.5%	Through Khazanah(GLC), hold only 10% share in Air Asia
make so much net money in shorter time	bigger network, higher standard of service, three times more operating revenue, stronger assets, lesser debts, more cash and better paymaster track record

the shareholders and/or stakeholders of Air Asia (directly,
indirectly, through proxies, etc.) include
Kamaluddin bin Abdullah Badawi,
Kalimullah Maseerul Hassan (also into Tune Hotels),
Khairy Jamaluddin,
Tony Fernandez, etc.

from kakiblog

Air Asia

When Air Asia took over the Sabah and Sarawak routes, they also took over seven airplanes from MAS. But when they returned the routes to MAS about a year later, only one plane was in flying condition. The other six planes had been cannibalized for parts or were under serious repair. Air Asia saved tens of millions of Ringgit (RM50 mill or so) from this underhand business tactic and simply passed the cost of repair back to MAS. Everything was approved by Badawi the Finance Minister and his Deputy Nor Mohamed Yakob.

The Finance Ministry official who gave me this news said that when Air Asia first took over the hinterland routes in Sabah and Sarawak they also demanded compensation from the Gomen. They told the Gomen that Sabah and Sarawak air routes were not profitable and had to be subsidised. Ok but how much? RM70 million per year!! And Air Asia wanted to be paid upfront! And they got it. The Gomen paid them the RM70 million subsidy up front, signed off by Nor Mohd Yakob.

To be fair MAS has also been paid subsidies by the Gomen to operate the Sabah & Sarawak routes but the Finance Ministry official says that throughout the entire history of MAS, the highest subsidy paid by the Gomen to MAS was a maximum RM14 million only. And the subsidy was always paid to MAS at the end of the financial year, after MAS had finalised its audited accounts. And during the years when MAS was profitable no subsidies were paid to MAS by the Gomen. Subsidies were only paid in those years when MAS made slim profits or suffered losses.

But here we have Air Asia getting an upfront subsidy of RM70 million. Who paid for that ? Err thats our money lah Encik Taxpayer. And ony Fernandez gets all the fantastic 'entrepreneur' awards!



By Little Bird
source: Malaysia Today