Journey to Wealth
News Highlights - AirAsia, Malaysian Airline System, Plantation Sector
AirAsia Bhd (RM3.74/share)
Carries 13% more passengers in Q2
AirAsia Bhd carried 8.3 million passengers in its second quarter of 2012, up 13%, from 7.3 million passengers last year. The budget carrier said in a statement that the capacity increased by 13% to 10.5 million seats, while load factor was 79% compared to 80% last year. AirAsia added seven aircraft, raising its fleet to 100. In Malaysia alone, there was an increase of 10% in the number of passengers carried to 4.9 million, from 4.5 million last year. The load factor was 80% compared to 81% in 2011. Its affiliate Thai AirAsia carried 1.9 million passengers, an increase of 20% compared to last year's 1.6 million. Indonesia AirAsia posted a stronger load factor of 78%, or increased two percentage point year-on-year, as the result of capacity expansion followed by strong passenger demand. AirAsia said the increase was supported through an extended capacity of 19% with new Chiang Mai-Macau route and additional frequency for its Bangkok-Trang route for the quarter. Passengers carried increased by 15% to 1.4 million, from 1.3 million last year, whereas capacity increased by 12% year-on-year. ' Business Times
Malaysian Airline System Bhd (RM1.06/share)
Alliance to boost MAS earnings
Malaysian Airline System Bhd (MAS) is eyeing an additional US$100mil (RM317mil) interlining passenger revenue a year through the induction of the national carrier into the one world alliance early next year. Senior vice-president for international affairs, Germal Singh Khera, said the full-fledged premium carrier now registers RM750mil annual interlining passenger revenue. Germal said MAS expects to conclude all work and officially join the alliance in the first quarter of next year. Germal said MAS' inclusion into the oneworld alliance would also open up opportunities for the carrier to forge joint ventures in several initiatives with other airlines in the alliance. He added that MAS would revisit the collaboration with Qantas Airways under oneworld alliance. - Business Times
Plantation Sector
Malaysia's palm oil export down 14%, survey shows
The country's palm oil exports fell 14% between July 1 and 25 compared with the same period in June, according to independent market surveyor Intertek. It said a total of 1.03 million tonnes of the commodity were tracked compared with 1.2 million tonnes in the same period last month. According to Malaysian Palm Oil Council statistics, India overtook the European Union (EU) as the No. 2 importer of Malaysian palm oil after China for the Januaryto-June period, with the former buying 1.07 tonnes versus EU's 1.04 tonnes. The world's biggest importer of palm oil, India effectively doubled import taxes last Thursday when it ended a six-year freeze on the base import price of processed palm olein, increasing the cost of imports from Malaysia and Indonesia. The decision, however, is neutral for crude palm oil (CPO) producers as India's CPO imports remain duty-free. - StarBiz
Source: AmeSecurities
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