Added...Average...@<3.00...!!!

Jokers2020 resistance at 3.46/47...huh

A bit lower can try to add...!!!

xuxu @ geary wow bought at 0.68, are you still holding ?

When you win people feel jealous...when you lose people laugh at you...standard human nature mah...what to do...sleep first...2morrow...upswing again...hehehe...!!!

For your pleasure n everyone here...Gloves will be over...then Airlines will pick up...!!!

It's a matter of timing only...too many going into Gloves n PPE manufacturing....Oversupply will happen when Covid19 is endemic...AA will not be this price...@<0.80...still have at least 100%...Return in within 1 year...!!!...Disclaimer: Not for those who aren't pychologically prepared...!!!

DickyMe Emotionally unstable?

LOL..who me?

Look into the mirror and your scribbling all over i3.
It speaks volume of your psychological intent of trying to portray as a smart ass.
12/07/2020 8:38 PM

Nobody force you to read n analyse whatever I wrote or other articles...if you don't believe AA can turnaround...so I have my human right...you have yours...just do what you think is okay...I do mine own research...if you think I am cheating some newbies...then you should ask yourself...why you kaypo...non of your business anyway.

DickyMe Hahahaha...stupid fellow jumping to unrelated matters like monkey hopping from tree to tree.

Emotionally unstable...That’s why every forum he goes talk about stupidity n monkey...!!!

For your pleasure n everyone here...Gloves will be over...then Airlines will pick up...!!!

https://youtu.be/fRemgVO_458

DickyMe HAhaha...stupid fellow with stupid comment

OMG...What a blessing... $$$...coming my way...Stupidity brings lot of luck...hehehe...!!!

For your pleasure...!!!

https://youtu.be/BWo5_fDh8BE

DickyMe Currently, angmoh fair better than Asians.

So go n live among those angmoh...don't stay in Malaysia...no point talking these...waste my time...I go jogging better... hehehe...!!!

Angmoh's treat worker better than Asians.

Asians are the worse racist.

You go n work n study there then you will know...lot of Asians also suffered a lot of discrimination while working n studying there...you think if you are equally qualify with the angmoh...they will employ you first...Sorry no such thing...you are second class okay...there are always first class...!!!

Sometimes there are so many tradeoffs...we just don't understand...Why...so how the migrant workers are treated in Singapore...so many things...it's not just talk n can solve all these...but looking deeper...Topglov did try to mend some policy that can be fair to migrant workers here...lot of tradeoffs...Nothing is perfect...Every countries n companies are trying to be fair for their workers welfare...so in this covid19...so many got retrenced...so there are many worst things happening...society is forever unfair...so rules n laws need changing accordingly...!!!

If that's the argument, then the companies should shut their operations here and move to where they think it is cheaper and have hardworking slaves.

Don't trust those angmoh talk human right n teach we Asians how to behave...they themselves treat those blacks or negros, until now still racist n like slaves...Black Lives Matter...!!!

strattegist aiyooooo

Never suffered for at least 3 years want these n that...usually companies will hive share options or esos to long term good employees...That's good enough...so they can sell at this price...huat lol...!!!

Why not the profit making company share their profit with local workers?
12/07/2020 4:38 PM

Local workers...too pampered lol...share with them lagi pampered...work hard for 3 years first then maybe he or she can be promoted...3D jobs...how many locals can tahan...maybe automation in certain departments can help...!!!

Top Glove urges govt to lift freeze on foreign workers | https://www.klsescreener.com/v2/news/view/701005

https://milelion.com/2020/07/11/singapore-airlines-scales-up-flights-for-august-keeps-same-destinations/

Meow Aaron...

I'm already on board in Supermax...expecting stellar result coming up soon..

Meow Meow Meow Meow..

FOMO can be dangerous...but if you swing trade is okay... remember to sell when you profited...cannot be too Greedy...buy high sell higher...but remember to sell...ʘ‿ʘ

Mabel Unfortunately, I have to disagree....

The fact that he is coming out and go public show he got guts and not trying to hide under someone skirts...

True leaders are just like an F1 Drivers. They seat in the Driver Seats..

Yup...he n partner didn't sell a single shares...still top two shareholders...plus local institutions n foreign funds still holding. Only public outstanding shares, outsiders are buying n selling...so it depends on each traders, investors appetites of risks n rewards...◉‿◉

Getting back to normal | https://www.klsescreener.com/v2/news/view/700809

Airasia (5099).
Business Summary
AirAsia Group Berhad is a Malaysia-based investment holding company, which manages AirAsia Group operating in the airline industry. The Group is principally engaged in the operation of AirAsia, a low-cost airline with major business in Malaysia, Thailand, Indonesia, the Philippines, India and Japan, among others. The Company's subsidiaries include AirAsia Investment Ltd and Koolred Sdn Bhd, investment holding companies; AirAsia Go Holiday Sdn Bhd, a tour operating company; AirAsia (Mauritius) Limited and Asia Aviation Capital Limited, aircraft leasing companies; Ground Team Red Sdn Bhd, a special purpose vehicle for financing arrangements required by the Group; TPaay Asia Sdn Bhd, a provider of financial and other related services; Rokki Sdn Bhd, a multimedia content and equipment trading company, and T & Co Coffee Sdn Bhd, a coffee and tea product trading company.
Managers
Name Age Since Title
Tharumalingam Kanagalingam 54 2020 Chief Executive Officer
Adrian Jenkins 50 2017 Chief Operating Officer
Pattra Boosarawongse 49 2014 Group Chief Financial Officer
Kin Choy Lau - 2009 Group Head-Information & Communication Technology
Nadzri Hashim 54 2016 Head-Engineering
Abdul Aziz bin Abu Bakar 65 2013 Non-Independent Non-Executive Director
Mohamed Khadar bin Merican 62 2007 Independent Non-Executive Director
Lee Ee Fam 58 2014 Senior Independent Non-Executive Director
Stuart L. Dean 66 2016 Independent Non-Executive Director
Noor Neelofa binti Mohd Noor 30 2017 Independent Non-Executive Director
Equities
Vote Quantity Free-Float Company-owned shares Total Float
Stock A 1 3,341,974,000 1,851,929,120 55.4% 0 0.0% 55.4%
Shareholders
Name Equities %
Tune Live Sdn. Bhd. 559,000,000 16.7%
Tune Air Sdn Bhd 516,485,082 15.5%
Permodalan Nasional Bhd. 250,183,400 7.49%
Employees Provident Fund 159,496,980 4.77%
AIA Bhd. 71,649,700 2.14%
The Vanguard Group, Inc. 59,000,978 1.77%
Dimensional Fund Advisors LP 56,615,329 1.69%
Gilder, Gagnon, Howe & Co. LLC 49,838,800 1.49%
W97n Emerging Markets Opportunities Portfolio 39,673,153 1.19%
Saudi Arabian Monetary Agency (Investment Management) 35,431,875 1.06%
Holdings
Name Equities % Valuation
PT AirAsia Indonesia Tbk (CMPP) 5,262,638,300 49.3% 69,466,826 USD
Fly Leasing Limited 3,333,333 11.9% 27,599,997 USD
AirAsia X (AAX) 570,728,502 13.8% 12,470,418 USD
Tune Protect Group (TUNEPRO) 102,609,000 13.6% 7,317,048 USD
Company contact information

Strategy
AirAsia chief Fernandes sees ‘robust’ rebound in demand
By Cirium19 June 2020
Save article
AirAsia chief executive Tony Fernandes has highlighted “encouraging” forward bookings and sales as the low-cost carrier seeks to recover from the impact of the coronavirus crisis.

“There was a point where you couldn’t see where the light was going to come from,” Fernandes acknowledged during an 18 June webinar organised by Credit Suisse – but now, “robust demand is coming back.”

The carrier hopes to operate roughly 50% of pre-Covid-19 capacity by the beginning of July. Fernandes believes passenger demand could return to 2019 levels by the end of 2021, although he stresses that this is a “guesstimate.”

Despite this confidence, the budget carrier is securing three different tranches of liquidity to shore up its position. “As a defensive we’re raising as much capital as we can,” says Fernandes.

The main question in the short term is how quickly governments in the region are willing to open their borders given the risk of spreading infection. Over a slightly longer timeframe, AirAsia believes its position as the lowest-cost provider in the region should allow it to benefit from the post-pandemic economic landscape, as customers seek out the cheapest options.

Benefits will also, the airline expects, arise from having passengers who tend to be younger than those of legacy carriers, and therefore less likely to be concerned about infection, and from a lower proportion of business travellers.

“I think we are in the better part of that market… It’s a more resilient market,” notes Fernandes. “Being a low-cost carrier in this position is slightly easier than [the] full-service model.”

Comparing AirAsia with its low-cost brethren in Europe, Fernandes notes it is not competing against state-backed carriers that have secured state support. “So what we are seeing is fares hardening from government-owned airlines because they have to make money,” he says. As a result, AirAsia has not yet been forced to slash its prices.

Covid-19 has also changed the equation when it comes to AirAsia’s fleet. The airline is a long-time Airbus customer, but the coronavirus means it is unlikely to take delivery of new aircraft for “a long, long time”, Fernandes believes.

“There’ll be a lot of planes parked in the desert” that could offer better returns than new equipment, he says. “Fifteen percent fuel savings [on a new aircraft], I don’t think the capital costs would justify that.”

Lower demand could also herald a shift away from Airbus A321s to smaller versions of the aircraft family. “The A321 is a fantastic plane, it gives us that extra 50 seats, but we’ll be fine with A320s with 180 seats for the moment.” Because of its size, the A321 was a better fit for slot-constrained airports, he highlights, but given the pandemic’s impact on demand, “I think that’s all changed now”.

Topics
AirlinesAsia PacificStrategy

"We’re trying to adapt ourselves to becoming the genius of the digital age."

Mr Franke said another advantage low-cost carriers have over legacy airlines as the world recovers is that they are better placed to raise prices if COVID-19 safety-related costs such as keeping middle seats vacant are needed to make customers willing to resume travel.

"Low-cost airlines will be raising fares off a cost base 30 per cent lower than legacy airlines," he said.

"Net-net I think the [low-cost] model performs better than other models as we recover from COVID-19."

The Virgin bidders will want to attack its cost base.
RELATED
Where Virgin's costs can be cut
On the outlook for the aviation industry more generally, Mr Franke said the primary focus for all airlines at the moment is managing their cash burn and warned that some won't survive without government support.

"Until there is either a treatment and a vaccine ... we're all going to be dealing with waves of events here, and that in turn leads to a question about when revenue will revive to a standard that permits break-even cash flow."

Much of that will depend on making sure passengers feel safe to fly.

"Airports and airlines need to convince the traveller, through a series of actions - this is before any vaccine is available - that the passenger is safe getting on the airplane."

Mr Franke also took aim at airlines and aircraft makers for doing "an imperfect job" of explaining air filtration systems.

"Airlines need to have those seats filled to get more money coming in the door than going out the door.

"If we can convince [passengers that] the air in the aircraft is safer than in a restaurant or their office, which by the way it is, that would be a major step."

Jacob Greber writes about American politics, economics and business from our Washington bureau. He was previously our economics correspondent based in Canberra. Connect with Jacob on Twitter. Email Jacob at jgreber@afr.com

AIRASIA TRAVEL ADVISORY: Cabin Baggage Allowance Update
Photo 1.png
SEPANG, 7th JULY 2020 - As demand for air travel picks up, AirAsia wishes to provide an update on its cabin baggage allowance effective 7 July 2020, where guests are allowed two (2) pieces of cabin baggage not exceeding a total of 7kg in weight.

Guests will be able to carry one (1) cabin bag not exceeding the dimensions of 56cm (H) x 36cm (W) x 23cm (D) or maximum linear of 115cm and must fit in the overhead storage compartment in the aircraft cabin, AND one (1) laptop bag or one (1) small bag not exceeding the dimensions of 40cm (H) x 30cm (W) x 10cm (D) or maximum linear of 80cm and must fit under the seat in front of you.

For more information about the latest updated cabin baggage allowance, please visit here.

Guests who wish to travel with more than the permitted cabin baggage limit are recommended to pre-book your checked baggage allowance prior to the flight. Baggage purchase or upgrade can be done on airasia.com or the AirAsia mobile app up to 4 hours to departure time.

At AirAsia, the health and wellbeing of our passengers remain our paramount concern. Guests are advised to arrive early at the airport - preferably 3 hours before departure to allow for enough time for all the necessary processes to take place.

Besides complying with the advice and regulations from government and health authorities, AirAsia has also implemented end-to-end contactless procedures and a series of new safety measures, as well as taking care of those most at risk to ensure the safety of all travelling guests. Please visit this link to learn more about everything AirAsia is doing to keep flying safe for everyone.

For the latest AirAsia news, activities and promotions, follow AirAsia on Twitter (twitter.com/AirAsia), Facebook (facebook.com/AirAsia) and Instagram (instagram.com/AirAsia).

BY DAVE BRETT

5 Reasons why Airasia are the best budget airline in the world.
Budget airlines often come along with no frills, for the low price you pay, all you expect is to get from A to B as safely as possible. After my experience of flying with budget airlines around Europe and North America and Oceania I was shocked when I first discovered Airaisa on my backpacking trip around South East Asia.

Here are my 5 reasons why I think Airasia is the best budget airline in the world:

1. Check in using a smart phone app

image1
(They have an app for that!)



Mediavine
All airlines should do This specially Ryanair who charge €50–70 if you forget to print your boarding pass before you go to the airport (bloody cheeky!). Who owns a printer these days? Everyone has smart phones and you only need a barcode to scan anyway. Airasia are awesome for having a smart phone checking in system allowing us all the travel much smarter.

2. Top customer service With a smile



Mediavine
IMG_7817
(Service with a smile)

I’ve flown with budget airlines in the past and always the service seems to be grumpy. I understand why, normally the cabin crew have to work multiple shifts and work quickly to turn around flight times. But with Airasia I’ve found the total opposite, every time I enter the aircraft I’m greeted with genuine smiles by cabin cabin crew that seem to enjoy their high flying job. Good for them for finding something they enjoy working for and I feel that represents the Airasia brand well, young, fresh, trendy and a lot of fun.



Mediavine
3. Affordable in flight food

IMG_7851
(Yummy inflight food, Affordable compared to the airport if booked in advance)



Mediavine
Airport food is expensive and budget airlines normally charge a small fortune for the privilege of eating up in the air. However Airasia offer an advance food ordering service which normally works out a lot Cheaper than eating at the airport, plus the dishes are Normally local and fun to try for a low price.

4. Modern aircrafts

IMG_7844



Mediavine
They are a rather young fleet and you can tell by the high standards of their aircrafts. The seats are comfortable, modern cabins and makes for a pleasant flight, super.

5. Fun social media promotions

IMG_7853
(They sent me a Tweet, how on the ball are they!)

Ever since day one, AirAsia has always been on the ball with fantastic promotional prices and using social media to tell the masses. They understand that social media is cost effective and use it to their advantage, it makes it easier to locate promotions, fantastic! Also, I’ve found Airasia to use Twitter rather effectively to help with customer inquiries which is both direct and quick.

6. Bonus: Airasia x

IMG_7819
(With Airasia X you can fly to some pretty awesome destinations!)

Airasia x makes me excited thinking of all the destinations that they fly to on the cheap. Nepal, Sri Lanka and, South Korea, Australia, Japan and maybe soon they might re-open there London route! Isn’t it great that all these destinations can be visited on the cheap with a budget airline? The possibilities are endless. Sure, you have to cut some corners or pay for extras like in flight food or extra baggage, but for a backpacker on a budget it opens up possibilities.

Thank you for reading my blog post and I hope you enjoy flying with Airasia in the close future too. Do you a favorite budget airline? Share your thoughts in the comment section below:


— Dave Brett

Travelling the world, one adventure at a time. Follow the UK's leading solo adventure travel blogger, Dave Brett on his travels around the world. An Adventure travel blog that features travel tips and advice, inspirational stories, travel videos and travel photography that will help you inspire and plan your next trip abroad.

AirAsia needs to issue new shares to survive
By Ayisy Yusof - July 11, 2020 @ 11:02am
14
Analyst believe there may be several strategic shareholders waiting for AirAsia Group Bhd, in addition to South Korea’s conglomerate SK Corp, for the potential private placement. Photographer: Samsul Said/Bloomberg
Analyst believe there may be several strategic shareholders waiting for AirAsia Group Bhd, in addition to South Korea’s conglomerate SK Corp, for the potential private placement. Photographer: Samsul Said/Bloomberg
KUALA LUMPUR: A cash call is necessary for AirAsia Group Bhd to remain afloat as banks are unlikely to keep lending without its shareholders supporting any capital-raising exercise, analysts said.

Still, AirAsia might not raise up to RM1.4 billion capital from a rights issue all at once, according to analysts who attended AirAsia's briefing on the group's plans to address its cash flow requirements in near to medium term on Thursday.

The AirAsia group, they estimated, needed a total of RM3 billion capital to remain afloat.

Public Investment Bank Bhd (PublicInvest) analyst Nur Farah Syifaa' Mohamad Fu'ad said AirAsia would continue to operate in the current challenging period.

This is through its efforts mainly from ongoing discussions on capital raising (be it debt or equity) to ensure sufficient liquidity for the year, cash savings measures and resumption of its domestic travel from late May.

"Any proposal for a rights issue will require an extraordinary general meeting to gain shareholders' approval. Nevertheless, we understand that a rights issue may not be the favoured option at this juncture," said Nur Farah Syifaa'.

She said assuming entitlement basis of two rights shares for every three AirAsia's shares held at an illustrative issue price of 63 sen per rights share (based on RM1.4 billion proceeds), the rights issue might entail an issuance of up to 2.2 billion new shares.

As such, the group's net asset is estimated to be diluted from 89 sen to 53 sen per share, while its target price would fall to 47 sen post rights issuance, she said, noting that PublicInvest retained its "neutral" call on AirAsia with unchanged target price of 78 sen.

CSG CIMB analyst Raymond Yap said there may be several strategic shareholders waiting, in addition to South Korea's conglomerate SK Corp, for the potential private placement.

The private placement would likely be made after RM1 billion of (government and bank) loans were secured, Yap added.

"This is to ensure the best-possible valuation. A rights issue is possible, however, it is not on the table right now," he said in a report today.

Yap said a potential equity issue of up to RM1.4 billion was likely not be issued all at once,

He noted that an illustrative 50 sen will result in the issue of 2.8 billion new shares, thus increasing AirAsia's share base by 84 per cent to 6.1 billion shares and diluting existing shareholders' stakes.

"Taking AirAsia's assurances at face value, we are reasonably confident that the carrier will survive Covid-19, as the new RM1 billion loan to its local operation (AirAsia Malaysia), possible new loans to Indonesia AirAsia and the Philippines AirAsia, and potential RM1.4 billion new equity issue by AirAsia Group, will bring the total capital raising close to the RM3 billion, we estimate, needed to keep afloat," he said.

If Danajamin Nasional Bhd was willing to guarantee 80 per cent of a new RM1 billion loan to AirAsia Malaysia, Yap expects the carrier might be able to secure the loan at reasonable terms.

"This is because AirAsia Malaysia does not have many assets left to collateralise, having already sold almost all its planes to aircraft lessors."

Yap also said supplier financing would also play a role in AirAsia's survival.

He believes that AirAsia group would succeed in its efforts to extend the deferral of aircraft lease payments beyond the initial three-month period.

Lessors had limited options for aircraft redeployment and would have little choice but to work with their existing customers, he said.

"If any of the associate airlines cease operations, their aircraft will be returned directly to lessor with no recourse to AirAsia Group for unpaid lease rentals or for the remaining duration of the leases, as all airlines in the group sign for leases in their own names."

Yap said the LCC was also negotiating with banks for a further restructuring of its fuel hedging losses, while continuing to restructure its organisation to reduce operational expenditure.

CGS CIMB kept its target price for AirAsia at 58 sen per share as it believes the airline would continue to make loss next year, before turning profitable in 2022.

AirAsia's share closed at 78 sen today, up three cent with 83.95 million shares changing hands for a market capitalisation of RM2.62 billion.

MORNING BRIEF
What to watch today: Dow futures turn positive after positive data on a potential Covid-19 treatment
PUBLISHED FRI, JUL 10 2020 9:12 AM EDT
Matthew J. Belvedere
@MATT_BELVEDERE
Peter Schacknow
@PETERSCHACK
SHARE
BY THE NUMBERS
Dow futures turned positive after Gilead Sciences said its antiviral remdesivir was "associated with an improvement in clinical recovery and a 62% reduction in the risk of mortality" in Covid-19 patients. Shares of Gilead were higher in the premarket. (CNBC)

Wall Street was lower earlier, one day after the U.S. saw a record-high 63,200 new daily Covid-19 cases. The Dow Jones Industrial Average on Thursday fell 360 points, or 1.4%, on renewed concerns about slowing business reopenings — and in some cases reclosures — in hot-spot states. However, the Nasdaq rose 0.5%, closing at another record as investors continued to buy what they perceive as coronavirus-proof tech stocks. (CNBC)

SINGAPORE (BLOOMBERG, AFP) - Airlines added more seats back to their flight schedules this week, led by China and even increases in Hong Kong, suggesting the industry is starting to recover from the devastating impact of the coronavirus pandemic, according to OAG Aviation Worldwide.

Airlines globally added a net 600,000 seats to reach a total of almost 30 million, up about 2 per cent from the previous week, OAG senior analyst John Grant wrote in a report. That's still a long way off the weekly capacity of about 110 million seats this time last year, but it is an encouraging sign nonetheless.

North-east Asia is a bright spot. China added one million seats to schedules this week, including 800,000 on domestic routes, and is now operating twice as many seats as the US. Meanwhile, Hong Kong's Cathay Pacific Airways added 40,000 seats and increased frequency by some 120 flights, Grant said.


"China's domestic capacity stands at 75 per cent of January's level, the United States at 27 per cent and Russia at 49 per cent of pre Covid-19 levels," he said. "For anyone interested the UK level is now some 4 per cent!"

Some markets are still on a downtrend as travel restrictions are kept in place to contain the coronavirus, which has infected more than four million people and killed nearly 290,000.

Seat capacity on South Asian airlines dropped 14 per cent this week and is 72 per cent lower than in January, but it could bounce back as India considers restarting flights following a nationwide lockdown, Grant said.

Separately, Irish low-cost carrier Ryanair on Tuesday announced it will restore 40 per cent of flights from July 1, after running a skeleton service since mid-March as the coronavirus pandemic grounded planes worldwide.

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"Ryanair will operate a daily flight schedule of almost 1,000 flights, restoring 90 per cent of its pre-Covid-19 route network," it said in a statement.

Crew and passengers will wear face masks and have to pass temperature checks, it added.

Financial scandals are pandemic too | https://www.klsescreener.com/v2/news/view/700823

Commenting on capital management, internally said Fernandes, the group has embarked on headcount rationalisation for leaner operations, given the current demand for air travel and expectations on recovery, with internal cost-cutting efforts to include a group-wide temporary salary reduction of between 15 per cent and 75 per cent.

“We have received deferrals from our supportive lessors and are now working on further extensions. We have also restructured 70 per cent of our fuel hedging contracts and are continuously negotiating with our supportive counterparties for the remaining exposure.”

“All in all, we expect at least 50 per cent reduction in our cash expenses in 2020,” he said.

While the first half of the year has been extremely challenging, Fernandes said countries around the world have resumed domestic travel in recent weeks and are gradually reopening international borders.

In this regard he said, the formation and discussion of “travel bubbles” and “green lanes” with key economic partners with a low infection rate and proven pandemic curbing systems, is a step in the right direction.

AirAsia has also resumed its domestic operations in markets such as Malaysia, Thailand, Indonesia, India and the Philippines on a staggered yet steady basis since late May.

“On July 7, we registered our highest post-hibernation sale with 75,000 seats sold in a single day, reflecting pent-up demand and signalling green shoots of recovery. We also sold over 200,000 AirAsia Unlimited Passes since its recent launch for domestic Malaysia, domestic Thailand and AirAsia X.

“Positive trends in our flight bookings and load factors are additional signals of a better second half of the year,” he said.

FILE PHOTO: AirAsia planes sit on the tarmac at Kuala Lumpur International Airport
AirAsia planes sit on the tarmac at Kuala Lumpur International Airport, Malaysia Aug 28, 2016. (Photo: Reuters/Edgar Su/File Photo)
In June, the group-wide load factor was 60 per cent with AirAsia Malaysia’s load factor reaching 65 per cent, and it expects the load factor to reach 70 per cent for July.

On the outlook, Fernandes remained confident in the growth potential of the ASEAN region, in line with ASEAN-5’s gross domestic product growth forecast of 6.2 per cent in 2021, which is one of the highest growth rates in the world.

“We are confident that AirAsia will not only benefit from this growth upturn but also contribute to the region’s recovery given the significant role that air connectivity plays in ASEAN’s trade and investment landscape,” he added.

Business
AirAsia to emerge stronger from COVID-19 pandemic: Tony Fernandes
AirAsia boss Tony Fernandes told AFP the top budget carrier would emerge 'stronger' from
AirAsia boss Tony Fernandes told AFP the top budget carrier would emerge 'stronger' from the coronavirus pandemic despite a warning about its future AFP/Mohd RASFAN
09 Jul 2020 10:47PM (Updated: 09 Jul 2020 10:53PM)




Bookmark

KUALA LUMPUR: AirAsia boss Tony Fernandes said on Thursday (Jul 9) the budget carrier would emerge "stronger" from the coronavirus pandemic despite a warning about its future, and said the airline was hopeful of raising a sizeable cash injection.

In an interview with AFP, the colourful chief executive said he never imagined the industry could face such a crisis, which has triggered massive layoffs worldwide and led to some carriers collapsing.

"I never believed the aviation industry could be hit this hard. But ... we are still flying," he said from his office in downtown Kuala Lumpur.

"This will not go on forever. We will come out stronger."

READ: Putrajaya tells airlines to set reasonable fares as the economy recovers from COVID-19
AirAsia pioneered low-cost travel across Asia in the early 2000s, feeding insatiable demand for cheap flights from a rapidly-emerging middle class, and became one of the region's top budget carriers.

But the Malaysian carrier reported dismal first-quarter results this week after grounding almost its entire fleet due to the virus, prompting auditor Ernst & Young to warn of "significant doubts" about its future.

It also noted the airline's liabilities currently exceeded its assets by RM1.84 billion (US$430 million).

Fernandes said the airline could not "run away" from the assessment but added: "We had four months of no revenue, that does not mean liabilities will exceed assets for the rest of our lives."

AirAsia was taking steps to minimise costs, including cutting about 7.5 per cent of 23,000 staff across its businesses, he said, but added he hoped there would not be any further job losses.

READ: Malaysia's AirAsia founders not taking salary; staff members accept up to 75% pay cut
"FLYING WON'T DISAPPEAR"

Fernandes said the airline was in talks with international and local lenders to raise funds to weather the crisis, adding he was hoping to raise "more than RM1 billion" (US$230 million) - and possibly up to double that within six months.

Business has rebounded strongly since flights resumed in late April, and Fernandes said he was confident conditions would improve, particularly in AirAsia's key markets.

"We are flying domestically, we know that international flights are not far away," he said.

"AirAsia is in a good market because COVID has been pretty well controlled in (Southeast Asia) and North Asia."

READ: Airlines hit wall of debt after COVID-19 grounding
He said the impact on budget carriers would not be as severe because people were more likely to fly short-haul.

Long-haul travel would "take a while" to recover, he added.

He also played down speculation AirAsia might merge with crisis-wracked Malaysia Airlines, the country's flag carrier, saying the airlines served different markets.

"A country needs a full service airline and a country needs a budget airline," said Fernandes, who has carved an image for himself as Asia's answer to Richard Branson.

But Fernandes, who is also the co-owner of London football club Queens Park Rangers, added the carriers could collaborate in areas such as engineering.

READ: Commentary - To help us travel safer with COVID-19, airports need new checkpoint technology
Malaysia Airlines has struggled to recover from two crises in 2014 - the disappearance of flight MH370, and the shooting down of flight MH17 over Ukraine - and the government has been seeking a strategic partner for the carrier.

The auditor's warning sent AirAsia's share price tumbling almost 18 per cent Wednesday, although it rebounded 6 per cent to RM0.75 on Thursday.

READ: Face masks, health checks and long check-ins: The future of flying
And Fernandes insisted he was "confident" about the future.

"We've got to laugh, we've got to be positive," he said. "Flying is not going to disappear."

BOOKMARK THIS: Our comprehensive coverage of the coronavirus outbreak and its developments
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Source: AFP

TRANSPORTATION
AirAsia will rebound to profit in a year, vows CEO Tony Fernandes
Discount airline needs to raise $470m in next 6 months to be 'very comfortable'

Lower cost: Southwest Airlines employee Oscar Gonzalez (right) assisting a passenger at the ticket counter at Love Field in Dallas recently. Furloughs are seen to create a competitive boost for budget carriers like Southwest. — AP

THE US legacy airlines with lacklustre employee demand for early exit packages face large furloughs in the fall, signalling higher post-pandemic labour costs because union contracts require airlines to furlough in reverse order of seniority.

This could create a competitive boost for budget carriers including Southwest Airlines, whose lower cost structure could help it win market share with cheaper fares, experts said.

Labour will be the biggest single cost for airlines struggling to weather the coronavirus crisis that has crushed air travel demand.

With no quick recovery in sight, United Airlines said Wednesday it was sending 36,000 furlough warnings to union workers, nearly half its staff, after having received only 3,700 volunteers for early exit deals. Flight attendants are among the hardest hit.

The union contract requirement to furlough lower-salaried union workers first creates a higher per-seat-mile labour cost and a larger cost gap against low-cost carriers.

“And I imagine ticket prices will flow more or less in line with that, ” said Blake Haxton of Diamond Hill Capital Management analyst, which owns airline shares.

United flight attendants earn under US$30 an hour at the lower end of the pay scale versus nearly US$70 an hour at the top end, according to 2016-2021 contractual pay charts reviewed by Reuters.

Low-cost carriers like Southwest have another advantage: Their networks are more focused on domestic leisure travel, where demand is seen recovering first. Legacy carriers, on the other hand, generate more profit from business travel, which remains anaemic.

“It’s a perfect storm for the legacy carriers, ” Haxton said.

United’s warning, which one labour leader called a “gut-punch” but also an “honest assessment” of the state of the industry, is the first indication of the scale of large airlines’ job cuts coming Oct 1.

That is when airlines that received a US$25bil federal payroll support package to help protect jobs through September can begin involuntary furloughs.

Unions have asked lawmakers to extend the payroll aid through March 31. Airlines are not opposed to the idea but are not actively lobbying for it, with little appetite to extend conditions tied to the first package, people familiar with the matter said.

The final number of United furloughs will depend on how demand evolves and how many employees leave voluntarily. The deadline to apply for early exit deals, which offer travel and health benefits but no cash, is July 15.

Exit packages at Southwest, aimed at avoiding its first furloughs in its 49-year history, include buyouts. The deadline is also July 15.

Delta Air Lines is also offering buyouts. American Airlines is expected to roll out a broader early-exit programme for frontline workers soon but has warned it may have 20,000 more staff than needed in the fall.

Until now, tens of thousands of airline workers have taken temporary unpaid leaves, helped by a US$600 weekly federal unemployment supplement that expires this month. That means more employees could return to payroll on Aug 1 if a push in Washington for a second round of stimulus checks fails.

Furloughs will vary by work group, with airlines seeking to avoid pilot furloughs because of the timely and costly training involved in bringing them back.

It generally takes about one year to re-train 800 pilots, union officials said. If a Covid-19 vaccine is developed and demand bounces back, airlines want to be able to pick up that demand.

United said it was sending about 2,250 furlough warnings to pilots while working with the union to mitigate the final number. — Reuters

bahai4453 If Tony is agreed to merge with Malaysia Airlines without any changes in Malaysia Airline'S BOD and management team, Tony certainly will make a biggest mistake in his life because Malaysia Airline is already a rotten apple with huge losses and a deep black holes to patch. Further more Malaysia Airline is GLC.
He rather seek for JV with PRC business men. Good example is the Zhejiang Geely Holding Group bought over of Proton Holding in 2018. Now you just look at Proton holding now !
10/07/2020 11:16 AM

Yup...!!!

TRANSPORTATION
AirAsia will rebound to profit in a year, vows CEO Tony Fernandes
Discount airline needs to raise $470m in next 6 months to be 'very comfortable'


Tony Fernandes said he was confident AirAsia coud be profitable in 2021. (Photo by Yuki Nakao, File photo)
P PREM KUMAR, Nikkei staff writer
July 9, 2020 19:41 JST
KUALA LUMPUR -- AirAsia Group CEO Tony Fernandes on Thursday said the low-cost airline can bounce back to profitability next year, but that it will look to raise 2 billion ringgit ($469 million) in the next six months to be in a "very comfortable" position.

In an interview with Nikkei Asian Review, Fernandes expressed confidence that AirAsia can overcome heavy losses brought on by the COVID-19 pandemic.

The Malaysia-based company said earlier on Thursday that it was working to raise more than 1 billion ringgit ($234 million). Air Asia gave details of its plans after its shares fell sharply on Wednesday following a statement from the company's auditors, Ernst & Young, which expressed doubts about the airline's ability to continue as a going concern.


"At 1 billion ringgit, we are comfortable. But if we can raise 2 billion ringgit, we would be in a very comfortable position," Fernandes, AirAsia's founder, said from his Kuala Lumpur office. "I know I'm ambitious, but I am confident that in 2021 we can be profitable."

A portion of the funding would come from a share offering to take place within the next six months, according to Fernandes, who said the new shares would be placed with a third-party investor. "We have received a lot of interest from everywhere. Our corporate finance team is working hard in finalizing the best deal," he said.

Fernandes also dismissed speculation that the airline might pull out of joint ventures in Japan and India. He said both countries were still promising and there were no plans to withdraw from those markets. "[In] Japan and India, we have excellent partners, and there are no plans to exit, at least at the time being. We need to expand in these markets, and maybe in one more year they can be profitable," he said.

Fernandes said domestic flights had resumed at 50% capacity, with a load factor of 60% in July alone, a sign of growing demand. The airline expects to be running at 90% capacity domestically by year-end, while international flights will increase gradually.

Other supporting factors include rising air fares, low fuel costs and increased travel demand in countries where AirAsia operates.

On the statement by Ernst & Young, which informed the Kuala Lumpur stock exchange that it found "material uncertainties" that may cast "significant doubt" on the carrier's ability to continue as a going concern, Fernandes said he did not take offense at the report, which he called "completely fair." He pointed out that the airline was not alone in facing a tough environment due to the pandemic.

"The lines that EY wrote will be on the papers for most companies out there, not only airlines. We are all affected by this unprecedented event," Fernandes said.

"We draw attention to Note 2.1 and Note 48 to the financial statements, which indicate that the group has a net loss of 283 million ringgit ($66.2 million) for the financial year ended 31 December 2019 and the current liabilities exceeded its current assets by 1,843 million Ringgit," the auditors said in their statement. "The travel and border restrictions implemented by countries around the world have led to a significant fall in demand for air travel, which impacted the group's financial performance and cash flows," the report said.

AirAsia's shares were suspended briefly on Wednesday and closed at 0.70 ringgit, down 17.5% from Tuesday's close. On Thursday they partly rebounded, rising 6.4% to 0.75 ringgit.

AirAsia on Monday reported a first-quarter net loss of 804 million ringgit, reversing a 96 million ringgit profit for the year-earlier period.

The COVID-19 pandemic has closed the borders of most of AirAsia's key markets, including Malaysia, Thailand, Indonesia, the Philippines, China and India. As a result, the budget airline carried 9.85 million passengers in the first quarter, down 78% from a year earlier.


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Japan looks to reopen business travel with 10 more Asian economies
China, South Korea and Singapore among candidates for new air bridges


Narita Airport near Tokyo and other Japanese flight hubs aim to nearly double coronavirus testing capacity by August. (Photo by Yo Inoue)
YUKIO TAJIMA and SHOGO KODAMA, Nikkei staff writers
July 9, 2020 23:40 JST
TOKYO -- Japan intends to begin talks in mid-July on resuming business flights with 10 more economies including mainland China, South Korea and Taiwan, a move that will be backed by a sharp increase in coronavirus testing capacity.

Tokyo also seeks travel talks with Singapore, Malaysia, Brunei, Myanmar, Cambodia, Laos and Mongolia.

Prime Minister Shinzo Abe is expected to unveil plans for the negotiations soon. The move comes as agreements between destinations where the pandemic is under control -- known as travel bubble or air bridges -- proliferate in Asia.


Japan already has opened similar discussions with Vietnam, Thailand, Australia and New Zealand. Vietnam welcomed about 440 Japanese business flyers in late June.

Tokyo's plans for reopening travel target economies that hold deep ties with Japan and have controlled the spread of the novel coronavirus. Taiwan is expected to be among the first to agree to the arrangement.

Though Tokyo will enter talks with Beijing and Seoul at the same time as Taiwan, concerns exist that the number of Chinese and South Korean travelers would overwhelm Japan's testing capacity.

Japanese airports are currently capable of testing up to 2,300 people a day. The expansion of diagnostic testing centers and the introduction of antibody tests will raise daily capacity to 4,000 people by August.

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SK1200 Yahoo..thnx for those sell 0.615 yesterday..done sell at 0.65..

Power...I Q...@0.68...^^^

strattegist green
10/07/2020 10:41 AM

Q...@0.82...Take some profits... $€£...!!!

liyita @geary. Do you still count on the China vaccine? Haha! China soldiers have side effects!

I ain't expert in medical science...but all vaccine have side effects...if benefits greater than the later...then they just do it...same like most western medicines have side effects when taken for long time...this is an emergency...so those front line workers...defence forces...firdt to be vaccinated...Sometimes lot of demonic rumours from western media especially products came out from China...Huawei is one of them...!!!

The week that was - rate cut | https://www.klsescreener.com/v2/news/view/700331

More margin account openings...!!!

BanglaMan No sell, wait for Holland.. see my track record.. I’m never wrong..

U in Holland...AA still alive n kicking around...(✷‿✷)

strattegist green

Dark Green then... SELL...(θ‿θ)

AirAsia sees early signs of recovery | https://www.klsescreener.com/v2/news/view/700271

Sustainable aviation fuel for recovery | https://www.klsescreener.com/v2/news/view/700299

Consolidation trends...!!!
https://www.marketwatch.com/story/dow-futures-point-to-lackluster-stock-market-open-as-investors-await-weekly-jobs-data-11594293039

legendaryfeeder Tomorrow Friday. Bloodbath day. TP 0.20

Yup...Q at...@0.20...!!!

bahai4453 What rewards ? waiting for below 0.60 !

Q at...@0.58...◉‿◉

'Tried and True'

"It's a tried and true strategy," said Paul Offit, director of the Vaccine Education Center at Children’s Hospital of Philadelphia, about inactivated vaccine technology.

"If I had to pick a vaccine that I think would be the most likely to be safe and effective, it would be that one," he said. Offit is also co-inventor of the rotavirus vaccine, RotaTeq , manufactured by Merck & Co Inc.

Four of the Chinese candidates in human trials are inactivated vaccines, including Sinovac's and two vaccines from China National Biotec Group (CNBG), a unit of state-owned China National Pharmaceutical Group (Sinopharm).

There are currently only two experimental Covid-19 vaccines in final Phase III trials - one from Sinopharm and another from AstraZeneca and the University of Oxford. Sinovac's is set to become the third later this month.

To speed up the process, China allowed Sinopharm and Sinovac to combine Phase I and Phase II trials for their vaccine candidates.

For CanSino's experimental vaccine, the PLA research institute played a key role, with the two working on a method using an adenovirus - a similar approach to AstraZeneca's.

The PLA has its own approval process for "military specifically-needed drugs", and approved the military use of the candidate developed by its research unit and CanSino last month.

PLA lead scientist Chen Wei, who has been the face of its vaccine development effort, was among the first to take the experimental Covid-19 shot developed by her team, as well a s its potential SARS treatment years before, according to state media.

Challanges

China has challenges, though, as the epidemic has petered out in the country, hampering efforts to conduct large trials.

It has since shifted its focus overseas, but only a handful of countries have shown willingness to collaborate - UAE, Canada, Brazil, Indonesia and Mexico. Neither major European countries nor the United States have shown interest in China's Covid-19 vaccines as they focus on their own projects.

China must also address concerns over its vaccine quality and safety issues following several scandals over substandard vaccines in recent years.

"The Chinese national regulatory authority has been improving its oversight," said Jerome Kim, head of the International Vaccine Institute, a non-profit agency established as an initiative of the UN Development Programme.

China leads Covid-19 vaccine race
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China, where the new coronavirus is thought to have originated, brings state, military and private sectors together in a quest to combat a disease that has killed over 500,000 people worldwide.
A woman holds a small bottle labeled with a
A woman holds a small bottle labeled with a "Vaccine Covid-19" sticker and a medical syringe in this illustration taken April 10, 2020. (Reuters)
China has been forging ahead in the race to develop a vaccine to help control the Covid-19 pandemic, with Sinovac Biotech's experimental vaccine set to become the country's second and the world's third to enter final stage testing later this month.

While a laggard in the global vaccine industry, China, where the new coronavirus is thought to have originated, has brought state, military and private sectors together in a quest to combat a disease that has killed over 500,000 people worldwide.

Many other countries, including the United States, are coordinating closely with the private sector to try to win the vaccine development race, and China faces many challenges.

Its success in driving down Covid-19 infections makes it harder to conduct large-scale vaccine trials, and so far only a few other countries have agreed to work with it.

After past vaccine scandals, Beijing will also have to convince the world it has met all safety and quality requirements.

But China's use of command economy-type tools is so far yielding results.

A state-controlled entity, for example, completed two vaccine plants at what it called the "war time speed" of a couple of months, while state-owned enterprises and the military have allowed experimental shots to be used on staff.

The People's Liberation Army's (PLA) medical research unit, which has been a driving force in China's efforts to fight infectious diseases, is also working with private firms including CanSino to develop Covid-19 vaccines.

Challenging the West's traditional dominance of the industry, China is behind eight of the 19 vaccine candidates in human trials, with Sinovac's experimental shot and one jointly developed by the military and CanSino among the front runners.

It is also focused mainly on inactivated vaccine technology - a technology that is well known and has been used to make vaccines against diseases such as influenza and measles - something which could raise the chances of success.

By contrast, several Western rivals such as US-based Moderna and Germany's CureVac and BioNTech are using a new technology called messenger RNA that has never before yielded a product approved by regulators.

READ MORE: J&J moves up start of coronavirus vaccine human trials to July

At war time speed', China leads Covid-19 vaccine race
China has brought state, military and private sectors together in a quest to combat the coronavirus.
China has brought state, military and private sectors together in a quest to combat the coronavirus.PHOTO: REUTERS
PUBLISHEDJUL 7, 2020, 9:18 PM SGT
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https://www.straitstimes.com/asia/east-asia/at-war-time-speed-china-leads-covid-19-vaccine-race

https://www.malaymail.com/news/money/2020/07/09/after-auditor-flags-doubts-airasia-says-confident-business-will-continue-af/1882877