- Mar 31, 2014
- Reaction score
SEPANG: AirAsia Group Bhd merancang untuk menjual 25 pesawat miliknya kepada firma pelaburan swasta global yang berpangkalan di AS, Castlelake LP kerana mahu memberi tumpuan kepada perniagaan digitalnya.
Ketua Pegawai Eksekutif Kumpulan AirAsia, Tan Sri Tony Fernandes berkata, penjualan itu juga akan memberi lebih banyak tunai kepada syarikat di samping menjadi syarikat aset ringan.
Katanya, ia juga membolehkan syarikat penerbangan itu menjana keuntungan bagi semua pesawat AirAsia pada harga yang tinggi dan mengelakkan risiko berlebihan.
“Ini membolehkan kami untuk mengembalikan tunai kepada pemegang saham dan melabur dalam perniagaan digital baharu. Standard Pelaporan Kewangan Malaysia (MFRS) 16 tidak akan memberi kesan ke atas kedudukan tunai AirAsia.
“Saya menghargai syarikat dengan penjanaan tunai, walaupun dengan standard berkenaan dan jika anda menggunakan keuntungan dan kerugian (P&L) untuk menganalisis kesan standard baharu MFRS 16, impak terbabit adalah kira-kira RM35 juta setahun. Ia tidak begitu ketara,” katanya dalam siri ciapan di akaun peribadi Twitter miliknya sewaktu mesyuarat agung luar biasa syarikat itu diadakan di sini, semalam.
Media yang hadir pada EGM itu bagaimanapun gagal mendapatkan penjelasan lanjut daripada Fernandes dan pengurusan tertinggi Kumpulan AirAsia yang enggan ditemu bual.
Mengulas lanjut dalam ciapannya, Fernandes berkata, langkah pelupusan pesawat itu juga memperlihatkan tindak balas berbeza daripada firma penyelidikan.
“Menjual pesawat adalah langkah yang bijak memandangkan ada penganalisis mengatakan kami membeli terlalu banyak pesawat. Penganalisis yang sama kini mengatakan kami kini ada banyak pesawat pajakan,” katanya.
Sumber : My Metro
AirAsia berminat beli platform digital untuk tingkat perniagaan digital
Airasia Group Bhd berminat untuk membeli platform digital di luar negara bagi meningkatkan segmen perniagaan digitalnya.
Ketua Pegawai Eksekutif Kumpulan AirAsia Tan Sri Tony Fernandes berkata: "Pastinya...sebahagian akan menjadi M&A (penggabungan dan pengambilalihan), sebahagian lagi usaha sama."
Apabila ditanya negara mana yang disasarkan oleh kumpulan itu, beliau berkata: "Tunggu dan lihat."
Fernandes berkata demikian kepada pemberita selepas melancarkan ruang atas bangunan serba baharu AirAsia RedQ, di sini, malam ini. Turut hadir ialah Pengerusi Eksekutif AirAsia Datuk Kamarudin Meranun.
Pada masa hadapan, Fernandes berkata perniagaan digital akan menjadi sebahagian besar daripada hasil kumpulan.
"Bagaimanapun saya tidak mahu membuat sebarang ramalan tetapi beberapa tahun lalu saya ada katakan bahawa pendapatan sampingan akan menjadi bahagian yang besar daripada perniagaan kami, dan ia menjadi 25 peratus. Saya percaya digital akan menjadi lebih besar,” katanya.
Mengulas mengenai ruang atas bangunan serba baharu itu, Fernandes berkata ia bertujuan untuk memacu integrasi antara kakitangan daripada jabatan berbeza ke arah masa depan digital yang lebih menarik.
"Digital adalah berkisar tentang jabatan bekerjasama lebih rapat. Kami sedang dalam usaha mengujakan untuk menjadikan AirAsia lebih daripada sekadar syarikat penerbangan,” katanya.
Ministry and Airasia join forces to expand market for local produce
SEPANG: Malaysian-made products will be taking to the skies in a first between AirAsia and the Domestic Trade and Consumer Affairs Ministry.
The collaboration, involving over 500 products, was jointly announced by its minister Datuk Seri Saifuddin Nasution Ismail and AirAsia group chief executive officer Tan Sri Tony Fernandes at the airlines’ head office here yesterday.
“AirAsia will initially offer eight local food products on all its flights.
Besides, 550 local businesses will be able to expand their market by offering their products on AirAsia’s eCommerce platforms Ourshop and Rokki,” he said during the launch of the “Buy Malaysia Products” campaign here yesterday.
Saifuddin said that AirAsia also agreed to waive the listing fee of RM5,000 for the 550 businesses under the programme.
“This is the first such ever collaboration where the campaign to promote local products is heading skywards.
“Previously, we did it on the ground by requiring that at least 30% of products at hypermarkets and supermarkets be made locally,” Saifuddin said.
Speaking to reporters later, Fernandes said it was one of his goals to help local businesses.
“We wanted to help more Malaysians fly when we first started the company 17 years ago and have now flown over 100 million passengers.
“We believe we can now help Malaysian businesses by promoting their products through this effort,” he said.
Fernandes said the company was looking at developing its T&Co snack and beverages into a franchise soon.
He said the company also intended to promote its inflight menu Santan by opening a fast food restaurant in London.
Sumber : The Star
AirAsia to boost digital ops, reward shareholders
PETALING JAYA: AirAsia Group Bhd, which is disposing of 25 aircraft to US-based global private investment firm Castlelake LP, intends to use the proceeds of the sale to ramp up its digital business and reward shareholders.
AirAsia Group chief executive officer Tan Sri Tony Fernandes said the disposal would provide the low-cost carrier with more cash at its disposal.
“Selling our aircraft monetises all our aircraft at high prices and avoids residual risk and allows us to return cash to shareholders and invest in our new digital business,” he said via Twitter following the company’s EGM yesterday.
On Dec 24, 2018, AirAsia announced that it was disposing of 25 aircraft to Castlelake LP in a deal worth US$768mil (RM3.22bil).
Later that month, AirAsia’s indirect wholly-owned subsidiary, Asia Aviation Capital Ltd (AACL), entered into a share purchase agreement with Castlelake’s indirect entities for the disposal of its entire equity interest in Merah Aviation Asset Holding Ltd – which owns the aircraft.
The proposed disposal is expected to reduce AirAsia’s gross gearing ratio from 0.53 times to 0.24 times.
Separately, Fernandes said the impact of the MFRS 16 accounting standard on AirAsia is “not very material.”
“Even with that standard and if you use profit and loss for analysis, the impact of the new standard MFRS 16 is about RM35mil a year,” he said via Twitter.
The MFRS 16 is a new accounting standard for leases that took effect this year.
CGSCIMB in a report earlier this month said the new accounting standard would result in higher gearing levels for AirAsia.
The research house noted that AirAsia had sold 79 aircraft to lessor BBAM Ltd Partnership in 2018 and is expected to sell a further 25 planes to lessor Castlelake LP by the third quarter of this year.
Together with the other existing operating lease aircraft, CGSCIMB said AirAsia is expected to capitalise RM11.8bil worth of borrowings related to the operating leases in 2019, effectively bringing back to the balance sheet what had previously been off-balance sheet.
“The impact would be to raise reported gross gearing of 19% in 2018 to 198% on a pro forma basis after MFRS 16.
“The overall impact to profit and loss earnings from the above sale and leasebacks is negative because AirAsia would have to pay for the lessors’ profit margin as well as provide for a higher level of maintenance charges based on lessors’ conditions for lease returns, which tend to be strict.
“The net result would be a squeeze on AirAsia’s profit margins.”
Meanwhile, AllianceDBS Research said AirAsia’s outlook remains steady as market leader in the industry with 41.7% market share.
“Expansion plans are under way with 18 new aircraft for 2019. Available seat kilometres (ASK) is expected to grow at 9.8% and revenue passenger kilometres at 10.1% backed by load factors of 84.7%. Subdued fuel prices would help support earnings,” it said.
Sumber : The Star
Cancellation of JV low-cost carrier in Vietnam unlikely to impact AirAsia Group expansion plan
AirAsia Group Bhd
(April 18, RM2.43)
Maintain buy with an unchanged target price (TP) of RM3.40: AirAsia Group Bhd’s (AAGB) wholly-owned subsidiary AirAsia Investment Ltd together with Gumin Company Ltd and Hai Au Aviation Joint Stock Company have decided to terminate and release each other from all obligations under the transaction agreements of the proposed joint venture (JV) with effect from Wednesday. According to the initial plan, the formerly proposed new low-cost carrier in Vietnam was set to be launched in the third quarter of financial year 2019 (3QFY19).
While the cancellation of the JV may appear to negatively impact AAGB’s expansion plan, we do not think that this is the case. In early April, AAGB introduced Can Tho to its network of routes with a weekly frequency of four flights. In fact, this is the first-ever international flight to Can Tho, indicating AAGB’s lead as an international airline for that destination. Can Tho is AAGB’s sixth destination in Vietnam, while new services between Bangkok and Can Tho are set to be commenced in May. With 8.5 million visitors visiting the Mekong Delta in 2018, we opine that this destination has the potential to attract more visitors which will positively flow into AAGB’s load factor. Therefore, it is not imperative for AAGB to set up a JV carrier in Vietnam.
We maintain our FY19 and FY20 earnings estimates for AAGB as we did not impute any impact from the formerly proposed JV into our estimates. Moreover, AAGB did not make any financial commitments to the JV which would have cost RM58.2 million, representing a 30% stake in Hai Au Aviation Joint Stock Company.
We maintain “buy” with an unchanged TP of RM3.40 per share, pegging its FY19 forecast earnings per share at a price-earnings ratio (PER) of 10 times. It is notable that AAGB is trailing at a PER of 4.1 times, while its Asian peers are approximately trading at a PER above 10 times which we opine is unwarranted given the group’s position as the leading Asean low-cost carrier.
Based on our previous analysis of Malaysia Airports Holdings Bhd (buy; TP: RM8.90) in our report on Monday, we opine that the proposed international departure levy will not have much impact on passenger growth. — MIDF Research, April 18
Sumber : the edge markets
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