Highlights
KLSE: AIRASIA (5099)       AIRASIA GROUP BHD MAIN : Consumer
Last Price Today's Change   Day's Range   Trading Volume
1.65   0.00 (0.00%)  1.64 - 1.67  9,387,400
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Ann. Date Name Details of Changes Securities After Change View
Date Type No. of Shares Price Direct (%) Indirect (%) Total (%)
26-Jan-2018 DATO' ABDEL AZIZ @ ABDUL AZIZ BIN ABU BAKAR 25-Jan-2018 Disposed 110,000 4.149 0.00 0.00 0.00 View Detail
11-Sep-2017 DATO' ABDEL AZIZ @ ABDUL AZIZ BIN ABU BAKAR 08-Sep-2017 Disposed 23,100 3.501 0.00 0.00 0.00 View Detail
06-Sep-2017 DATO' ABDEL AZIZ @ ABDUL AZIZ BIN ABU BAKAR 05-Sep-2017 Disposed 198,800 3.375 0.00 0.00 0.00 View Detail
09-Jun-2017 DATO' ABDEL AZIZ @ ABDUL AZIZ BIN ABU BAKAR 07-Jun-2017 Disposed 63,000 3.330 0.01 0.00 0.01 View Detail
09-Jun-2017 DATO' ABDEL AZIZ @ ABDUL AZIZ BIN ABU BAKAR 06-Jun-2017 Disposed 22,000 3.290 0.01 0.00 0.01 View Detail
26-Apr-2016 TAN SRI DR ANTHONY FRANCIS FERNANDES 22-Apr-2016 Disposed 400,000 2.100 0.06 18.56 18.62 View Detail
26-Apr-2016 TAN SRI DR ANTHONY FRANCIS FERNANDES 21-Apr-2016 Disposed 1,000,000 2.130 0.06 18.56 18.62 View Detail
26-Apr-2016 TAN SRI DR ANTHONY FRANCIS FERNANDES 20-Apr-2016 Disposed 1,000,000 2.150 0.06 18.56 18.62 View Detail
26-Apr-2016 TAN SRI DR ANTHONY FRANCIS FERNANDES 19-Apr-2016 Disposed 6,157,000 2.090 0.06 18.56 18.62 View Detail
26-Apr-2016 DATUK KAMARUDIN BIN MERANUN 22-Apr-2016 Disposed 400,000 2.100 0.07 18.56 18.63 View Detail
26-Apr-2016 DATUK KAMARUDIN BIN MERANUN 21-Apr-2016 Disposed 1,000,000 2.130 0.07 18.56 18.63 View Detail
26-Apr-2016 DATUK KAMARUDIN BIN MERANUN 20-Apr-2016 Disposed 1,000,000 2.150 0.07 18.56 18.63 View Detail
26-Apr-2016 DATUK KAMARUDIN BIN MERANUN 19-Apr-2016 Disposed 6,157,000 2.090 0.07 18.56 18.63 View Detail
04-Mar-2016 DATUK KAMARUDIN BIN MERANUN 04-Mar-2016 Disposed 500,000 1.706 0.07 18.87 18.94 View Detail
04-Mar-2016 DATUK KAMARUDIN BIN MERANUN 03-Mar-2016 Disposed 500,000 1.700 0.07 18.87 18.94 View Detail
04-Mar-2016 DATUK KAMARUDIN BIN MERANUN 02-Mar-2016 Disposed 1,500,000 1.601 0.07 18.87 18.94 View Detail
04-Mar-2016 DATUK KAMARUDIN BIN MERANUN 01-Mar-2016 Disposed 1,000,000 1.560 0.07 18.87 18.94 View Detail
04-Mar-2016 TAN SRI DR ANTHONY FRANCIS FERNANDES 04-Mar-2016 Disposed 500,000 1.706 0.06 18.87 18.93 View Detail
04-Mar-2016 TAN SRI DR ANTHONY FRANCIS FERNANDES 03-Mar-2016 Disposed 500,000 1.700 0.06 18.87 18.93 View Detail
04-Mar-2016 TAN SRI DR ANTHONY FRANCIS FERNANDES 02-Mar-2016 Disposed 1,500,000 1.601 0.06 18.87 18.93 View Detail
04-Mar-2016 TAN SRI DR ANTHONY FRANCIS FERNANDES 01-Mar-2016 Disposed 1,000,000 1.560 0.06 18.87 18.93 View Detail
24-Jul-2015 TAN SRI DR ANTHONY FRANCIS FERNANDES 15-Jul-2015 Disposed 170,000 1.290 0.06 18.99 19.05 View Detail
24-Jul-2015 TAN SRI DR ANTHONY FRANCIS FERNANDES 09-Jul-2015 Disposed 2,500,000 1.240 0.06 18.99 19.05 View Detail
24-Jul-2015 DATUK KAMARUDIN BIN MERANUN 15-Jul-2015 Disposed 170,000 1.290 0.07 18.99 19.06 View Detail
24-Jul-2015 DATUK KAMARUDIN BIN MERANUN 09-Jul-2015 Disposed 2,500,000 1.240 0.07 18.99 19.06 View Detail
21-May-2015 ABDEL AZIZ @ ABDUL AZIZ BIN ABU BAKAR 27-Apr-2015 Disposed 50,000 2.360 0.00 0.00 0.00 View Detail
21-May-2015 ABDEL AZIZ @ ABDUL AZIZ BIN ABU BAKAR 27-Apr-2015 Disposed 45,000 2.370 0.00 0.00 0.00 View Detail
21-May-2015 ABDEL AZIZ @ ABDUL AZIZ BIN ABU BAKAR 27-Apr-2015 Disposed 10,000 2.370 0.00 0.00 0.00 View Detail
02-Dec-2014 DATO' FAM LEE EE 02-Dec-2014 Disposed 50,000 2.800 0.00 0.00 0.00 View Detail
25-Sep-2014 DATUK KAMARUDIN BIN MERANUN 25-Sep-2014 Disposed 109,396,300 2.350 0.07 19.09 19.16 View Detail
25-Sep-2014 TAN SRI DR. ANTHONY FRANCIS FERNANDES 25-Sep-2014 Disposed 109,396,300 2.350 0.06 19.09 19.15 View Detail
09-Sep-2014 DATO' ABDEL AZIZ @ ABDUL AZIZ BIN ABU BAKAR 05-Sep-2014 Disposed 50,000 2.450 0.00 0.00 0.00 View Detail
09-Sep-2014 DATO' ABDEL AZIZ @ ABDUL AZIZ BIN ABU BAKAR 05-Sep-2014 Disposed 5,000 2.460 0.00 0.00 0.00 View Detail
21-Oct-2013 DATO' ABDEL AZIZ @ ABDUL AZIZ BIN ABU BAKAR 17-Oct-2013 Disposed 50,000 2.810 0.01 0.00 0.01 View Detail
23-Aug-2013 TAN SRI DR. ANTHONY FRANCIS FERNANDES 21-Aug-2013 Disposed 10 3.180 0.06 23.04 23.10 View Detail
12-Aug-2013 TAN SRI DR. ANTHONY FRANCIS FERNANDES 07-Aug-2013 Disposed 2,627,000 3.180 0.02 23.04 23.06 View Detail
12-Aug-2013 DATO' KAMARUDIN BIN MERANUN 07-Aug-2013 Disposed 2,292,900 3.180 0.00 23.04 23.04 View Detail
18-Jul-2013 DATO' ABDEL AZIZ @ ABDUL AZIZ BIN ABU BAKAR 05-Jun-2013 Disposed 50,000 3.500 0.01 0.00 0.01 View Detail
16-Oct-2012 DATO' ABDEL AZIZ @ ABDUL AZIZ BIN ABU BAKAR 09-Jul-2012 Disposed 100,000 3.815 0.01 0.00 0.01 View Detail
24-Sep-2012 CONOR MC CARTHY 16-Jan-2009 Disposed 1,300,000 0.909 0.33 0.00 0.33 View Detail
31-Jul-2012 CONOR MC CARTHY 27-Jul-2012 Disposed 565,000 3.736 0.36 0.00 0.36 View Detail
31-Jul-2012 CONOR MC CARTHY 26-Jul-2012 Disposed 500,000 3.740 0.36 0.00 0.36 View Detail
02-Dec-2011 CONOR MC CARTHY 02-Dec-2011 Disposed 300,903 3.831 0.39 0.00 0.39 View Detail
02-Dec-2011 CONOR MC CARTHY 01-Dec-2011 Disposed 500,000 3.809 0.39 0.00 0.39 View Detail
02-Dec-2011 CONOR MC CARTHY 30-Nov-2011 Disposed 860,000 3.688 0.39 0.00 0.39 View Detail
22-Jul-2011 CONOR MC CARTHY 22-Jul-2011 Disposed 700,000 3.709 0.45 0.00 0.45 View Detail
22-Jul-2011 CONOR MC CARTHY 21-Jul-2011 Disposed 250,000 3.628 0.45 0.00 0.45 View Detail
22-Jul-2011 CONOR MC CARTHY 19-Jul-2011 Disposed 400,000 3.485 0.45 0.00 0.45 View Detail
18-Jul-2011 CONOR MC CARTHY 14-Jul-2011 Disposed 50,000 3.580 0.50 0.00 0.50 View Detail
18-Jul-2011 CONOR MC CARTHY 14-Jul-2011 Disposed 50,000 3.530 0.50 0.00 0.50 View Detail
18-Jul-2011 CONOR MC CARTHY 13-Jul-2011 Disposed 50,000 3.500 0.50 0.00 0.50 View Detail
02-Jun-2011 DATO' KAMARUDIN BIN MERANUN 30-May-2011 Disposed 55,500,000 0.000 0.06 23.08 23.14 View Detail
02-Jun-2011 DATO' SRI DR. ANTHONY FRANCIS FERNANDES 30-May-2011 Disposed 55,500,000 0.000 0.09 23.08 23.17 View Detail
25-May-2011 DATO' KAMARUDIN BIN MERANUN 24-May-2011 Disposed 33,350,000 0.000 0.06 25.08 25.14 View Detail
25-May-2011 DATO' SRI DR. ANTHONY FRANCIS FERNANDES 24-May-2011 Disposed 33,350,000 0.000 0.09 25.08 25.17 View Detail
09-May-2011 DATO' FAM LEE EE 06-May-2011 Disposed 50,000 3.030 0.00 0.00 0.00 View Detail
22-Apr-2011 CONOR MC CARTHY 21-Apr-2011 Disposed 455,200 2.701 0.51 0.00 0.51 View Detail
22-Apr-2011 CONOR MC CARTHY 20-Apr-2011 Disposed 279,900 2.659 0.51 0.00 0.51 View Detail
22-Apr-2011 CONOR MC CARTHY 19-Apr-2011 Disposed 491,400 2.608 0.51 0.00 0.51 View Detail
22-Oct-2010 CONOR MC CARTHY 14-Oct-2010 Disposed 462,900 2.230 0.57 0.00 0.57 View Detail
22-Oct-2010 CONOR MC CARTHY 14-Oct-2010 Disposed 37,100 2.200 0.57 0.00 0.57 View Detail
22-Oct-2010 CONOR MC CARTHY 22-Oct-2010 Disposed 400,000 2.607 0.55 0.00 0.55 View Detail
22-Oct-2010 CONOR MC CARTHY 20-Oct-2010 Disposed 100,000 2.567 0.55 0.00 0.55 View Detail
20-Apr-2010 CONOR MC CARTHY 16-Apr-2010 Disposed 2,500,000 1.320 0.59 0.00 0.59 View Detail
20-Apr-2010 CONOR MC CARTHY 15-Apr-2010 Disposed 1,023,600 1.330 0.59 0.00 0.59 View Detail
20-Apr-2010 CONOR MC CARTHY 14-Apr-2010 Disposed 830,000 1.339 0.59 0.00 0.59 View Detail
20-Apr-2010 CONOR MC CARTHY 13-Apr-2010 Disposed 176,900 1.350 0.59 0.00 0.59 View Detail
12-Jan-2010 DATO' FAM LEE EE 07-Jan-2010 Disposed 10,400 1.440 0.00 0.00 0.00 View Detail
12-Jan-2010 DATO' FAM LEE EE 06-Jan-2010 Disposed 39,600 1.450 0.00 0.00 0.00 View Detail
06-Jan-2010 DATO' FAM LEE EE 04-Jan-2010 Disposed 50,000 1.400 0.01 0.00 0.01 View Detail
26-Aug-2009 CONOR MC CARTHY 21-Aug-2009 Disposed 927,500 1.450 0.92 0.00 0.92 View Detail
21-Aug-2009 CONOR MC CARTHY 20-Aug-2009 Disposed 800,000 1.447 0.92 0.00 0.92 View Detail
19-Aug-2009 CONOR MC CARTHY 19-Aug-2009 Disposed 200,000 1.450 0.95 0.00 0.95 View Detail
19-Aug-2009 CONOR MC CARTHY 18-Aug-2009 Disposed 500,000 1.450 0.95 0.00 0.95 View Detail
19-Aug-2009 CONOR MC CARTHY 14-Aug-2009 Disposed 1,500,000 1.451 0.95 0.00 0.95 View Detail
19-Jan-2009 CONOR MC CARTHY 15-Jan-2009 Disposed 200,000 0.900 1.04 0.00 1.04 View Detail
19-Jan-2009 CONOR MC CARTHY 14-Jan-2009 Disposed 503,900 0.900 1.04 0.00 1.04 View Detail
19-Jan-2009 CONOR MC CARTHY 13-Jan-2009 Disposed 27,000 0.910 1.04 0.00 1.04 View Detail
19-Jan-2009 CONOR MC CARTHY 12-Jan-2009 Disposed 970,000 0.909 1.04 0.00 1.04 View Detail
19-Jan-2009 CONOR MC CARTHY 09-Jan-2009 Disposed 950,000 0.907 1.04 0.00 1.04 View Detail
19-Jan-2009 CONOR MC CARTHY 07-Jan-2009 Disposed 50,000 0.903 1.04 0.00 1.04 View Detail
06-Nov-2008 CONOR MC CARTHY 22-Oct-2008 Disposed 50,000 1.200 1.16 0.00 1.16 View Detail
06-Nov-2008 CONOR MC CARTHY 20-Oct-2008 Disposed 1,200,100 1.202 1.16 0.00 1.16 View Detail
02-Aug-2007 CONOR MC CARTHY 20-Jul-2007 Disposed 2,000,000 2.003 1.22 0.00 1.22 View Detail
27-Jul-2007 DATO' ANTHONY FRANCIS FERNANDES 27-Jul-2007 Disposed 40,000,000 1.850 0.11 30.89 31.00 View Detail
27-Jul-2007 DATO' KAMARUDIN BIN MERANUN 27-Jul-2007 Disposed 40,000,000 1.850 0.00 30.89 30.89 View Detail
16-Apr-2007 ABDEL AZIZ @ ABDUL AZIZ BIN ABU BAKAR 02-Apr-2007 Disposed 200,000 1.810 0.00 0.00 0.00 View Detail
05-Apr-2007 DATO' LEONG SONNY @ LEONG KHEE SEONG 02-Apr-2007 Disposed 150,000 1.827 0.00 0.00 0.00 View Detail
04-Apr-2007 FAM LEE EE 30-Mar-2007 Disposed 18,000 1.750 0.01 0.00 0.01 View Detail
04-Apr-2007 FAM LEE EE 29-Mar-2007 Disposed 82,000 1.734 0.01 0.00 0.01 View Detail
06-Nov-2006 CONOR MC CARTHY 27-Oct-2006 Disposed 10,000,000 1.570 1.30 0.00 1.30 View Detail
20-Oct-2006 DATO' ANTHONY FRANCIS FERNANDES 20-Oct-2006 Disposed 105,390,865 1.570 0.11 32.76 32.87 View Detail
20-Oct-2006 DATO' ANTHONY FRANCIS FERNANDES 19-Oct-2006 Disposed 1,788,800 1.570 0.11 32.76 32.87 View Detail
20-Oct-2006 DATO' ANTHONY FRANCIS FERNANDES 18-Oct-2006 Disposed 258,200 1.570 0.11 32.76 32.87 View Detail
20-Oct-2006 DATO' ANTHONY FRANCIS FERNANDES 13-Oct-2006 Disposed 3,787,000 1.650 0.11 32.76 32.87 View Detail
20-Oct-2006 DATO' KAMARUDIN BIN MERANUN 20-Oct-2006 Disposed 105,390,865 1.570 0.00 32.76 32.76 View Detail
20-Oct-2006 DATO' KAMARUDIN BIN MERANUN 19-Oct-2006 Disposed 1,788,800 1.570 0.00 32.76 32.76 View Detail
20-Oct-2006 DATO' KAMARUDIN BIN MERANUN 18-Oct-2006 Disposed 258,200 1.570 0.00 32.76 32.76 View Detail
20-Oct-2006 DATO' KAMARUDIN BIN MERANUN 13-Oct-2006 Disposed 3,787,000 1.650 0.00 32.76 32.76 View Detail
25-Apr-2006 FAM LEE EE 21-Apr-2006 Disposed 100,000 1.790 0.01 0.00 0.01 View Detail
21-Apr-2006 FAM LEE EE 20-Apr-2006 Disposed 400,000 1.790 0.01 0.00 0.01 View Detail
20-Apr-2006 FAM LEE EE 19-Apr-2006 Disposed 400,000 1.800 0.03 0.00 0.03 View Detail
20-Apr-2006 FAM LEE EE 18-Apr-2006 Disposed 300,000 1.800 0.03 0.00 0.03 View Detail
20-Apr-2006 FAM LEE EE 17-Apr-2006 Disposed 100,000 1.790 0.03 0.00 0.03 View Detail
14-Apr-2006 KAMARUDIN BIN MERANUN 14-Apr-2006 Disposed 51,500,000 1.750 0.00 37.55 37.55 View Detail
14-Apr-2006 KAMARUDIN BIN MERANUN 14-Apr-2006 Disposed 40,661,403 1.750 0.00 37.55 37.55 View Detail
14-Apr-2006 KAMARUDIN BIN MERANUN 10-Apr-2006 Disposed 32,500,000 1.860 0.00 37.55 37.55 View Detail
14-Apr-2006 DATO' ANTHONY FRANCIS FERNANDES 14-Apr-2006 Disposed 51,500,000 1.750 0.00 37.55 37.55 View Detail
14-Apr-2006 DATO' ANTHONY FRANCIS FERNANDES 14-Apr-2006 Disposed 40,661,403 1.750 0.00 37.55 37.55 View Detail
14-Apr-2006 DATO' ANTHONY FRANCIS FERNANDES 10-Apr-2006 Disposed 32,500,000 1.860 0.00 37.55 37.55 View Detail
11-Nov-2005 DATO' ANTHONY FRANCIS FERNANDES 10-Nov-2005 Disposed 20,000,000 1.640 0.00 43.01 43.01 View Detail
11-Nov-2005 KAMARUDIN BIN MERANUN 10-Nov-2005 Disposed 20,000,000 1.640 0.00 43.01 43.01 View Detail
08-Nov-2005 KAMARUDIN BIN MERANUN 08-Nov-2005 Disposed 20,000,000 1.500 0.00 43.87 43.87 View Detail
08-Nov-2005 ANTHONY FRANCIS FERNANDES 08-Nov-2005 Disposed 20,000,000 1.500 0.00 43.87 43.87 View Detail
18-Feb-2005 SAMI ALI A. SINDI 17-Feb-2005 Disposed 20,400 0.000 0.00 9.58 9.58 View Detail
08-Feb-2005 SAMI ALI A. SINDI 07-Feb-2005 Disposed 1,000,000 0.000 0.00 9.58 9.58 View Detail
07-Feb-2005 SAMI ALI A. SINDI 04-Feb-2005 Disposed 1,150,000 0.000 0.00 9.60 9.60 View Detail
02-Dec-2004 TAN SRI DATO' (DR.) R.V. NAVARATNAM 22-Nov-2004 Disposed 106,000 1.411 0.00 0.00 0.00 View Detail
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  101 people like this.
 
Victor Yong Cheap air fare

https://www.airasia.com/en/gb
11/12/2019 10:08 AM
Victor Yong How likely are you to recommend AirAsia to your friends and family based on your booking experience?
11/12/2019 10:11 AM
Victor Yong :) how was your booking experience?
11/12/2019 10:11 AM
paktua73 win bet at 1.64 and manage eat more at 1.65
now 3rd and 4th squad done reload use 100% their ammo..
means while 1st and 2nd squad still wait for final reload..

tut tut
never faer to fight here..
11/12/2019 10:24 AM
Victor Yong AirAsia Group Berhad - Non-Airline Business Rapidly Expanding
Date: 28/11/2019

Stock : AIRASIA Source : MIDF
Price Target : 2.04
Last Price : 1.65


KEY INVESTMENT HIGHLIGHTS
9MFY19 earnings were below expectations
Healthy load factors did not come at the expense of average fares
Teleport on target to meet RM400m annual revenue target
Expansion cards of other non-airline ancillary business; i.e. BigPay’s e-money license in Singapore
Prudent hedging policy helped to contain the rise in fuel expense
Earnings estimates adjusted downwards
Maintain BUY with revised TP of RM2.04 per share


Below expectations. The group recorded a 3QFY19 normalised net profit of RM6.0m (-96.3%yoy). This brings the cumulative 9MFY19 normalised net profit to RM27.3m (-96.7%yoy), missing ours and consensus’ expectations by a variance of more than 10%. The negative variance was due to the substantial increase in finance costs-lease liabilities and depreciation of right of use of asset following the MFRS16 adoption which is more than what we had expected. In addition, higher maintenance expense following higher provision for engine overall with higher number of leased aircraft. We expect the effect to be felt until end of FY19 when a new base is established.

RPK growth outgrew expansion in ASK…. The group’s 9MFY19 revenue was up by +14.0%yoy to RM8.8b. The robust growth was due to another record breaking number of passengers carried in 3QFY19 of 13.0m which was supported by the festive seasonality factor around ASEAN. As a result, the number of passengers carried in 9MFY19 grew by 18.8%yoy to 38.4m. With strong growth in passengers carried, the 15.8%yoy growth in RPK to 47,465m outpaced the ASK growth rate of 14.6%yoy in 9MFY19.

….which helped maintained a healthy load factor. As such, the load factor in 9MFY19 remained robust at 85.7%. This was despite the 17.6%yoy increase of international routes for its AOCs (Indonesia and the Philippines) and net addition of 23 aircraft. More importantly the strong load factor did not come at a cost at a lower average fares. In fact, there was a +0.2%yoy increase in average fares for 9MFY19 while Malaysia’s market share rose +3ppts to 60.0%.

Beefing up its non-airline businesses. The increase in passengers which contributed to higher 9MFY19 ticket sales of +18.9% to RM6.6b, also resulted in airline related ancillary income revenue to grow by +15.3%yoy. As for non-airline ancillary segments, total revenue more than quadrupled to RM475.2m. Most of the contribution for non-airline ancillary revenue came from Teleport at 70.2% and we expect it will reach its target of RM400m given the revenue recorded of RM333.5m in 1HFY19. Performance of Teleport in 2HFY19 will be enhanced by: (i) the launch of ‘teleport.social’, a platform enabling sellers on social media to integrate with Teleport’s logistics infrastructure; (ii) joint investment with Gobi Partners in EasyParcel; and (iii) direct interline agreement with Lufthansa Cargo.

Source: MIDF Research - 28 Nov 2019
11/12/2019 10:26 AM
Victor Yong AirAsia Group Berhad - Look Beyond Price Competition
Date: 28/11/2019

Stock : AIRASIA Source : TA
Price Target : 2.01
Last Price : 1.65


Review
Stripping out: 1) all exceptional items (-RM331.4mn), which came mostly from RM214.5mn fair value loss on derivative, 2) deferred tax credit (RM433.6mn), 3) one-off capital injection to offset AirAsia India’s prior losses (RM147mn), which charged to income statement, and 4) adding back unrecognised losses from India operations (app. RM45.90mn), AirAsia Group’s (AirAsia) recorded 9M19 core losses of RM86.1mn, which trailed analysts’expectations. The variance was largely due to underestimation of fare pressure, especially in Malaysia, arising from intense price competition.
9M19 earnings slipped into losses of RM86.1mn due to an adoption of MFRS16, which caused depreciation and finance costs to increase substantially by 230.2% and 53.0% respectively, at a pace much faster than revenue growth of 12.4%. Maintenance and overhaul was another cost component, which surged by whooping 93.4% and contributed to losses.
By sector performance, Philippines AirAsia (PAA), Indonesia AirAsia (IAA) and AirAsia India (AAI) were star performers for this quarter with higher load factor along with favourable RASK-CASK spread. Malaysia AirAsia (MAA) had its RASK declined by 4.6% while CASK increased by 12.2%. Although Thai AirAsia (TAA) managed to reduce CASK by 7.5% YoY for this quarter, its load factor had declined to 80.5% (vs 80.8% in 3Q18 & 81.7% in 2Q19).
Malaysia AirAsia (MAA), Indonesia AirAsia (IAA) and Philippines AirAsia (PAA) (AAG) – Yield stress. For 9M19, AAG recorded higher load factor of 85.6% (+0.9%-pts YoY) mainly due to market share gain by IAA and PAA. MAA’s load factor was relatively stable at 85.4% (-0.2%-pts YoY) but this was at the expense of lower fare. The price competition started by Malaysia Airlines has hurt airlines’ profit and management believe the fare pressure to normalise in 4Q19.
Thai AirAsia (TAA) – loss expanded in 3Q19. The global trade tensions and strong Thai baht were to blame for the decline in load factor to 83.9% (-1.2%-pts) for 9M19. Yield was also under pressure as the decline in RASK (-6.1%) was at a faster pace than CASK (-2.4%). In local currency, TAA reported a loss before tax of THB716.7mn for 9M19 compared to a profit of THB539.4mn a year ago.

India (AAI) – Load >90%. AAI was the only affiliate recorded >90% load factor for 9M19, fuelled by demand growth of 39.6% and capacity growth of 28.2%. However, 9M19 loss before tax were little changed at INR4.7tn owing to substantial rise in staff cost, maintenance and overhaul costs and finance expenses.

Digital platform – EBITDA positive by 3Q20. Teleport reported higher revenue (48.4%) and EBITDA (14.9%) of 121.1mn and 62.1mn respectively for 3Q19. Meanwhile, AirAsia.com and BigPay suffered greater LBITDA of RM31.7mn (317%) for this quarter while building the economies of scale. According to management, these units are expected to be EBITDA-positive by 3Q20. Note that BigPay has obtained a licence in Singapore and would roll out its services soon.
Impact
We now assume MAA’s RASK to decline by 14.4% YoY (from decline of 9.2% previously) for 2019 to factor in the greater-than-expected fare pressure in 3Q19. However, we revise the growth in MAA’s RASK to 7% (from 4% previous) for fare normalisation in FY20. No change to our RASK growth assumption of less than 1% for FY21. All in, we cut our FY19/20/21 earnings projections by 77.4/22.8/38.2%.
Outlook
Management is positive on 2020 outlook as they look forward to fare normalisation in 4Q19. Meanwhile, the yield is expected to rise with the use of A321neo aircraft, which come with 236 seats or 50 seats more than A320neo.
The group has received its first A321neo recently and will take delivery of 3 more for 2019. For 2020, 6 out of total 12 aircraft to be delivered to AirAsia would be A321neo. AirAsia will deploy the aircraft to service destinations with limited slots.
Currently, AAGB has 5 aircraft which will be disposed to BBAM group pursuant to an earlier agreement signed by both parties. TAA would also dispose all 21 units of its owned-aircraft next month to unlock asset value.
No major changes in fuel hedging as the group has maintained its position in hedging 65% of fuel requirement at US$62.77b (Brent) for 2019, 73% at US$60.22/b for 2020 and 19% at US$59.45/b for 2021.
Valuation
Looking beyond price competition, which is unsustainable in the long run, we advocate investors to Buy into AirAsia for its market share gain as well as its established networks, which are crucial for future profitability. Target price is reduced to RM2.01/share based on 10x CY20 EPS. Maintain Buy.
Source: TA Research - 28 Nov 2019
11/12/2019 10:27 AM
Victor Yong Fuel hedging status. To-date, the Group has hedged 86% of Brent crude at USD60.72/bbl for 4Q19. Meanwhile, it also hedged an average of 73% of its fuel at USD60.22/bbl for FY20.
Source: PublicInvest Research - 28 Nov 2019
11/12/2019 10:29 AM
Victor Yong Airasia Group Berhad - Below Expectation
Date: 28/11/2019

Stock : AIRASIA Source : PUBLIC BANK
Price Target : 1.87
Last Price : 1.64


AirAsia Group (AAGB) reported headline net loss of RM51.4m in 3QFY19. After excluding forex loss of RM112m, fair value loss on derivatives of RM237.7m and deferred tax asset of RM292.3m, its core net profit for 3QFY19 was RM6m. YTD 9MFY19, core net profit stood at RM17.5m, which accounts for only 11% and 4% of our and consensus’ full year expectations respectively. The discrepancy was mainly due to higher-than-expected depreciation, finance cost as well as losses from its share of associates. We adjust our numbers accordingly, which reduces our earnings for FY19-21F by an average of 73%. We also change our valuation methodology to 1.5x book value per share (previously 11x PER) given the uncertainties in its earnings trajectory. Our target price is lowered slightly to RM1.87 (previously RM1.89), though we retain our call on AirAsia at Neutral.

Revenue for airline grew 17% to RM2.9bn in 3Q19, from RM2.5bn in 3Q18. The growth is on the back of higher passengers carried (+20%) and revenue per average seat km (RASK) (+1%). Both its Philippines (PAA) and Indonesian (IAA) operations reported higher unit passenger revenue by 3% and 1% respectively. Nevertheless, Malaysia’s (MAA) operations reported lower unit passenger revenue (-1%) in 3Q19, with average fare for domestic routes dropping 15% YoY, while its international routes were flat YoY. We understand that the average fare in 4Q19 is now showing around 12% improvement YoY. For 9MFY19, airline revenue grew 15% YoY owing to higher number of passengers carried (+11%) and flat RASK (-0.1%).
Higher CASK due to increase in operations and impact of adopting MFRS16. Cost per ASK excluding fuel (CASK ex-fuel) in 3Q19 jumped 19% YoY at 9.63 sen, compared to 8.11 sen in 3Q18. This is following the increase in staff costs (+15%), provisions for maintenance and overhaul (+118%), user charges (+27%), and other operating expenses (+31%). Earnings were however cushioned by lower average fuel cost that dropped 10% YoY to USD85 per barrel in 3Q19 (vs 3Q18: USD95/bbl). This brings its aircraft fuel expenses higher by 3% YoY to RM1.06bn, despite fuel consumption increasing by 14% YoY to 3m barrels in 3Q19. Overall, CASK jumped 7% from 14.30 sen in 3Q18 to 15.29 sen in 3Q19. For 9MFY19, CASK increased 9.6% YoY, from 13.87 sen to 15.21 sen.
Fleet plan. The Group is targeting for a net fleet growth of 18 aircraft this year across its air operator’s certificate (AOCs), with the first A321neo received in November 2019, this plane having 50 more seats than the A320neo. We understand that this aircraft will be operated from its KL hub on popular routes and airports with infrastructure constraints. Initially, the destinations will include Kuching, Kota Kinabalu, Singapore, Bangkok and Shenzhen routes. To-date, the Group still owns 26 aircraft (i.e. Malaysia: 5, Thailand: 21), while the rest are currently under operating leases. For FY20, it targets to have a net addition of 12 aircraft to its fleet size, of which 7 aircraft will be delivered to its Indian (AAI) unit.
Fuel hedging status. To-date, the Group has hedged 86% of Brent crude at USD60.72/bbl for 4Q19. Meanwhile, it also hedged an average of 73% of its fuel at USD60.22/bbl for FY20.
Source: PublicInvest Research - 28 Nov 2019
11/12/2019 10:30 AM
Agjl Everyday 2 sen drop. When to catch?
11/12/2019 11:10 AM
strattegist aiyo kazambo...
11/12/2019 11:32 AM
Victor Yong becoming a fintech , fintech valuation to be applied to airasia soon? :)

AirAsia CEO: BigPay can give Alipay, GrabPay a run for their ...
https://www.cnbc.com › 2018/11/06 › airasia-ceo-bigpay-can-give-alipay-gr...
Nov 6, 2018 - AirAsia's mobile payment app, BigPay, is a part of the airline's strategy to ... business under its parent company AirAsia, launched its app earlier this year. ... “We got a fantastic fintech business where we're going to give Alipay, ...
11/12/2019 11:37 AM
Kendo Ken Hz Bigpay locally just a banking debit card, it is far way off from tngo alipay grab RGB ghl....
.....dream on tf...unless u do something real Big
11/12/2019 3:29 PM
Aristocats Merry Christmas.
Go holiday lah.
11/12/2019 5:53 PM
Aristocats Bigpay is a very small player only.
Its name is actually Smallpay bcos can't fight with Alipay, MasterCard, Visa card,
Unionpay... etc.
11/12/2019 5:57 PM
stockmarket101 A journey of a thousand miles begins with a small step.
11/12/2019 6:42 PM
Victor Yong Macam buyers Dan sellers equally strong, intraday traders boleh Cari makan disini :)
11/12/2019 7:50 PM
Agjl Share price performance says it all....
11/12/2019 10:06 PM
Mabel Sunset?

You travel by car to go to London?
11/12/2019 11:50 PM
Mabel See you all at RM 20...

Meow!
11/12/2019 11:51 PM
strattegist sawadikapppppp
12/12/2019 9:07 AM
MK4872 Mabel....why la? I waited for you at 2 leh...you run to 20 for what? you want buy new car is it?
12/12/2019 10:53 AM
stockmarket101 Good, Mavcom is dead!
12/12/2019 1:00 PM
Good123 no wonder , airlines stocks senyam :) KUALA LUMPUR (Dec 11): Global benchmark Brent crude price is expected to increase to US$68 per barrel by end-2020 compared with US$64 per barrel today as global growth momentum picks up.
OCBC Bank economist Howie Lee said the US-China trade deal would likely still be the main driver of prices next year, which suggests that prices would remain highly volatile.
“The oil price upward trajectory will not be smooth next year. The US presidential elections may generate even more volatility from President Donald Trump's campaigning.
“The indecision by the Organisation of the Petroleum Exporting Countries (OPEC) plus non-OPEC members on supply for 2020 means an element of supply risk is added to the market going into the new year,” he said in the bank’s ‘Commodity Outlook 2020’ report today.
He said the wave of political unrest across the globe in 2019 may have contagion effects where non-secular protests could spread in the Middle East and Latin America.
Meanwhile, commenting on palm oil, Lee said the prices were expected to stay elevated in the near term but a correction was likely due from the second quarter onwards and eventually the price would average at RM2,600 per tonne next year.
He said a combination of factors, namely the African swine flu outbreak in China, B30 biodiesel implementation in Indonesia beginning January 2020 and poor production had sent palm prices close to nearly RM3,000 per tonne.
“The market typically requires six months to correct the supply-demand imbalance and this suggests prices are expected to remain elevated through 1Q 2020, before correcting from 2Q 2020 onwards.
"A trade deal plus a subsiding of the swine flu in China will likely be bearish for palm,” he said.
Meanwhile, for soybean outlook, the price is expected to increase to US$9.50 a bushel compared with US$8.99 a bushel today as inventories of beans in China are running low on a combination of poor demand due to the swine flu and reduced supply.
“Globally, the supply picture looks tight; we think the market is one trade deal away from a substantial price rally across most bean origins,” he said.
The report also projected that gold is expected to continue trading between US$1,450 per ounce to US$1,500 per ounce in 1Q 2020.
Lee said gold’s appeal has waned on the back of rebounding Treasury yields and a stabilising global economy and a return of 10-year Treasury yields above 1.9 percent could potentially sink gold prices below US$1,450 per ounce.
“Selling pressure is expected to intensify from 2Q 2020 onwards, with price potentially falling back to US$1,400 per ounce,” he said.
Lee added China and India’s physical demand for gold may pick up in 2020 on the back of strengthening currencies, but were expected to provide limited cushioning to any potential sell-off.
12/12/2019 1:58 PM
Agjl AA will subject to few factors....volatile oil prices, higher operating costs, changes in accounting reporting standard, and a highly competitive aviation industry ......in short term diversifications will not be fast enough to offset all these negatives....longer term, yes. In the next 2 years, i would expect bumpy rides...thanks for the past dividends, AA...
12/12/2019 2:52 PM
KAQ4468 waaaaaaaaaaaaaaaaa
12/12/2019 9:44 PM
KAQ4468 all talk cock punya tukang tilik banyak muncul haaaa sekarang... talk bad about airasia
12/12/2019 9:46 PM
KAQ4468 now said don't buy don't buy ...sell sell sell....bad company la , tony bodoh la ...

once price tembak ....all will make announcement sell with huge profit la ...cut win la

kah kah kah ...kurap punya virtual trader
12/12/2019 9:51 PM
Aristocats Merry Christmas.
12/12/2019 9:52 PM
KAQ4468 waaaaaaaa

start holiday for Christmas already ka ???
12/12/2019 10:03 PM
KAQ4468 relax laaaa.... kita kepit teloqqqqqq sama sama dulu ...kasi bikin teloqqqq masin

kikikikiki
12/12/2019 10:04 PM
RedEagle Carefull 2020 economy recession
12/12/2019 11:23 PM
KAQ4468 Heloooooo helang merah


Lama tarak nampak ? Mana pergi
12/12/2019 11:25 PM
KAQ4468 Next year ada kpah Sherman .... Huatttt arrrrrr .... AFC
12/12/2019 11:27 PM
willc48 forget airasia. buy tuneprotect. can fetch 100% profit. potential buyers on lookout since long there is no buyers previously.
12/12/2019 11:31 PM
strattegist sawadikappppp...
13/12/2019 8:31 AM
paktua73 done paktua troops final reloaded at 1.65
now all squad manage to avrrge down below 1.67..
from now we will hold until rise back above 1.90 n go to final destination 2.80..

tut tut
done reload here
13/12/2019 9:13 AM
strattegist steady...
13/12/2019 9:36 AM
Bullballs All settled. Ini kali lah!!!
13/12/2019 10:02 AM
KAQ4468 Pasti Mari

AirAsia & Myeg

Gua Punya ticket in bulan



Yeahhhhh
13/12/2019 12:36 PM
Kendo Ken Hz Tf still sleeping..no rebound even with trump good news...that's limit bow 1.70
13/12/2019 2:42 PM
KAQ4468 Layan jer

Anytime can kaboommmmm !!!

Mau tunggu 1.5 ?? Tunggu lerrrrrrr


Kikikiki
13/12/2019 3:59 PM
Ice Sea this round i join this noisy KAQ....although he really noisy n frustrating.......
13/12/2019 4:01 PM
salman sabar...bulan Feb 2020 naik lah...tak payah bising2
13/12/2019 4:22 PM
KAQ4468 Hahaha

Noisy arrrrr ??

Only this 2 days I posting comment... After 1 month cuti .... Aiyaaaaaaaaa


Kikikiki
13/12/2019 4:51 PM
KAQ4468 Can join me on Myeg too
13/12/2019 4:52 PM
KAQ4468 Kepittttt teloqqqqqqqqqq


Nanti telur Jadi emas
13/12/2019 4:53 PM
Ice Sea myeg show good entry point too...but no bullet...i hantam ptrans
13/12/2019 5:52 PM
paktua73 wah ah kaq dah come back...
kita lawan tetap lawan..
gua success follow AA trend..
dari 1.87 turun ke 1.66++

biaq bertongkat dagu
walau berengsot bahu..
lawan tetap lawan..
puncak 2.80 kita idam..

jika sifu icon8888 mampu
dari 1.65 ke 3.50 above..
kenapa kini tidak??

tut tut
set on april 2020 AA will be back above 2.80
13/12/2019 7:32 PM
Mabel Touché paktua..

Mid term 2.80
Long term 20

AA is more than just an Airlines..

Not only everyone can fly, now everyone can run a restaurant. Soon anyone can be a bankers..

To 20 with loves..
14/12/2019 7:42 AM
Mabel @KAQ4468 Can join me on Myeg too
13/12/2019 4:52 PM

MyeG has been a darling..

Agree.. Just buy and keep..

The company knows how to take care of their investors. I seldom monitor MyeG except when it starts to retrace..

That's a good time to accumulate..

CEO is one of the best in the industry..
14/12/2019 7:45 AM


 

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