BWC, for u it's never enough, just like when u talk shit also never enough

Confeeence call is very normal thing. But could be some news on AAC too

Ignissimia, how you know about the bonus thing? R u an analyst? Noticed that you know quite a lot of things.

Cruger, any firm info the QR will come out today or tomorrow?

supermx2, try not to look at share price every moment, will help

Dear AyamTua, Calvin's good friend, dont ask and sell now, Calvin will give you either invalid reasons, his misread reason or send you to Holand, free SIA seat guaranteed by him.

Taiwan's Transasia Airline suspended all operations and will dissolve.

http://www.nst.com.my/news/2016/11/190761/airasia-proposes-lcct-sabah?m=1
Do note what research house talk about currencies

Do note that AAI's market share raise from 2.3% in Sep 2016 to 2.7% in Oct 2016.
http://www.dgca.nic.in/reports/Traffic_reports/Traffic_Rep1016.pdf

DONGFANG, you can compare the data below from DGCA India.

2016: http://www.dgca.nic.in/pub/month-stats/2016/airasia16.pdf
2015: http://www.dgca.nic.in/pub/month-stats/2015/airasia15.pdf

Do note that data here is not really accurate, as it doesn't include no-show passenger and "distance flown" isn't based on actual distance flown.

AAI Oct 2016 ASK raise 51% YoY, passenger carried raise 56.9% yoy

SimpleInvestor, i dont like Calvin either, he make me upset, but supermx8 is damn annoying.

Seriously, I prefer Calvin Tan than spammer supermx8

U can't even understand what John trying to say...
There r 2 things u can do:
Apply for English class, or apply for investment class. U can try to search in SGX Academy website, quite a lot there. Remember to make use of governement's subsidy.

Lol
Approved = company board approve the purchase
Contracted = contract signed
In no way "Approved and Contracted for" represent the deal is done and closed.
As I said, 170 aircrafts doesn't worth RM79bil even in today money, even if no discount given.
As your word, the English is so plain and you can't read it.

I am sorry to ruin your Sunday night, I am pissed off by your actions of spreading fear while know nothing.

Now I know why you never counter my reply previously. You can't even understand what I said.

Are you really a car salesman?
Do u consider your customer is in debt when he committed to buy a car only deliver few year later? Do u depreciate his car when that car not even manufactured in parts level?
If yes, I pity your customer.

Seem like u can't even differentiate debt and commitment.
Your English is a disaster.

Lol, you still dare to talk about so called "off balance sheet" item.
I have explained that, it's for 400 aircrafts orders. Seem like you don't know how to counter my reply earlier and can only choose to ignore it.

Calvin, this is not first day AirAsia engaged in price war, and yet latest quarterly result show not only no reduce in average fare but actually raised!
Malindo given 1mil seat, price war, etc, so? What you tried to imply?
SIA, Jetstar, Cathay, blar blar blar, so?
Do you know SIA have different target market? Same with Cathay. Do you know Tigerair is losing and that why SIA merging it with Scoot. Jetstar is good, but it's concentrate in Aus, vietnam and Japan, so no much impact. Even have, do you know AA's CASK is lowest in the world?
You just know to shiam my question and talk about others. Give me a airline with higher margin than AA.
AirAsia have no moat? Obviously you don't understand about AirAsia

AirAsia have no pricing power? Do you know AirAsia's fare is higher than previous years and yet AA total passenger carried still growing?
I really wonder if u understand what is pricing power.

You can believe in your stand, but no point spreading fear

4. Why so care about forex, do you know that not every ticket fare are collecting in MYR? I don't see any points of forex in term of operation. Do you know fall in ringgit make AirAsia ticket fare more attractive than Tigerair & Silkair? And eventhrough USDMYR drop from 3.3 previous year to 4.4 last year, it make no different for AirAsia?

Calvin, seem like either u think that AirAsia only fly to Singapore and that S$136 is representative enough, or you actually failed your statistic course. Taking a single sample and assume it represent whole population. Epic fail.

Btw, once again you get the facts wrong:
1. AirAsia doesn't exist 20 years ago, which mean S$136 return ticket you bought 20 years was for full service flight. Yes, AirAsia 20 years ago don't have pricing power, bcos they doesn't even exist!
2. Yaya, while aircraft cost have gone up, aircraft's fuel efficiency today is also much better than old day, no need to say AA have so many innovative way to save costs since 15 years ago (I am fine if u want to take it as 20 years.). That why AA's profit margin is so high. (OMG, I recalled that you are yet to give me few example of airlines having higher margin than AA! Could you give me a BIG reply on that? Thank you!)
3.if you r trying to imply that AirAsia doesn't have pricing power because they can't charge as high as FSC, then I have nothing to say, as seem like you don't even have a common sense that LCC can charge lower fare while maintaining big net profit margin.
4. Why too care about forex?

Hi my lovely Calvin, price rise doesn't prove you wrong, just like price drop doesn't prove you right as well.
IFCA? I suppose that's your first prediction and AA is 2nd? Which mean your accuracy of prediction is 100%?

btw guys, instead of listen to fortune tellers, better just make the study yourself.

Supermx2, at least you are not losing any money, maybe just take it as u went for 3days holiday and came back finding that no much drop in AA's share price? Haha

Where is my lover Calvin Tan?
Hopefully nobody fall prey into his misleading arguments.

1. Calvin, at first you said 170 aircrafts worth 70b, now suddenly it become 79b, does USDMYR drop 13% while we discussing? or you are trying to fool people here?

2. 170 aircrafts worth 79 Billions (I assumed you mean list price), it's RM465m(=USD105m) per aircrafts. Overstated. Even at today historical high, list price for A320 is just USD97m. Note that these 170 aircrafts are ordered on 2006~2007, list price at that time is merely USD73m. Over last 10 years, USDMYR is around 3.0 to 3.5, average around 3.2. Sum it up, 170 aircraft in list price is just RM40b, not yet discounted.
I know we malaysian have a tradition of buy thing more expansive (not corruption), but unfortunately it's not AirAsia. AA only sell thing more expansive but tend to buy cheap.

3.After discounting of 50b, PPE=RM20b. 14.7b are in MAA account, while remaining with TAA, IAA, PAA & AAI.

While it's okay to asked people to beware in this volatile market, please at least get the fact right and don't misleading.

(source:http://www.aviationtoday.com/regions/usa/Airbus-&quotDiscounting%22-Exceeds-40-Percent_10813.html ; http://www.airbus.com/presscentre/pressreleases/press-release-detail/detail/new-airbus-aircraft-list-prices-for-2016/)

An example of what Enron did:
1. Today i sell my Supermax share, RM8000, CIMB earned brokerage fee RM45.
2. Instead of reporting earning of RM45, CIMB report their revenue earned from me is RM8000.
This is what happened in Enron's case

FYI, what happened in Enron's scandal.
Source: https://en.wikipedia.org/wiki/Enron_scandal#Revenue_recognition

Revenue recognition

Although trading companies such as Goldman Sachs and Merrill Lynch used the conventional "agent model" for reporting revenue (where only the trading or brokerage fee would be reported as revenue), Enron instead selected to report the entire value of each of its trades as revenue. This "merchant model" was considered much more aggressive in the accounting interpretation than the agent model.[19] Enron's method of reporting inflated trading revenue was later adopted by other companies in the energy trading industry in an attempt to stay competitive with the company's large increase in revenue. Other energy companies such as Duke Energy, Reliant Energy, and Dynegy joined Enron in the wealthiest 50 of the Fortune 500 mainly due to their adoption of the same trading revenue accounting as Enron.[20]

Between 1996 and 2000, Enron's revenues increased by more than 750%, rising from $13.3 billion in 1996 to $100.8 billion in 2000. This extensive expansion of 65% per year was unprecedented in any industry, including the energy industry which typically considered growth of 2–3% per year to be respectable. For just the first nine months of 2001, Enron reported $138.7 billion in revenues, which placed the company at the sixth position on the Fortune Global 500.[21]

Hi Calvin, thank for pointing out.
That's capital commitments, which in common language mean: I confirm I will buy this and that.
AirAsia have a huge order of 575 aircrafts from Airbus, which up to date still have 400 aircrafts pending deliveries.

RM79,869 millions divide by 400 aircrafts = RM199.67 millions per aircrafts.
Like what I said above, AirAsia enjoy huge discount from Airbus, and apparently, it's bloody 50% discount from A320neo listing price of USD 106.2m (=RM410 millions in 30 June 2016).
Do note that other airlines only enjoy about up to 40% discounts.

note: 400 aircrafts orders include 100 A321neo orders, which have a much higher list price.

Although it may surprise many (not those who did homework), AA actually have very high net profit margin. During low tide period of 2014-2015, while many airline lose money, MAA still manage to gain 6~9% operating profit margin. To compare, Indigo, an Indian airline dominating 40% market of India and have 118 aircrafts, they only enjoy 2% net operating profit margin (net profit 8%) in this low fuel era.

AirAsia could do even better, just bad luck that our PM is a thief.

Hi Calvin, i suppose you get 70 billions by taking 170 x 400millions per aircraft?
It don't really correct as not all 170 aircrafts belong to AA. Some of them leased from lessors.
Also, if you look at AA's balance sheet, their PPE is only 10.9billions (14.7b gross fixed assets - 3.77b depreciation). It's odd if those arcft worth 70 billions but airasia didn't recognise that 55billions difference.
Do note that some of aircrafts leases to Thai AA are financial lease and M'sia AA may not recognise its book value.

0.7b depreciation annually from 14.7b of PPE, about 5%, it's about right.
Aircrafts have a life cycle of around 25 years and could operate another 20 years after major overhaul. So 5% is reasonable depreciation rate.

Calvintaneng, are you serious when you said AirAsia didn't depreciate their PPE?
Get the fact right man.
It doesn't matter even if car fair value drop to 0. For car rental company, do you think they are scared about their car fair value when they can continue to earn on it?
AirAsia only earn razor thin profit? Do you mean this? If constantly >20% net profit margin is razor thin, I can only guess you are using this.
http://cdn.trendhunterstatic.com/thumbs/giant-razorblades-gillette-razors-smooth-ice-for-hockey.jpeg

Try to find me a Full Service Airline able to earn this much. Not even bank.

Btw, RM554 millions per aircraft is just a listing price. Airliners normally enjoy about 30~40% discount. For giant order like those from AirAsia, Airbus will given even better price.

It's ok to ask for differ, but at least must get the fact right.

Supermx2, wish u all the best too. Happy that u make some profit after all too.

supermx2, instead of huge selling, as like Secrecy said, there are big boys collecting at low price now.
try to look trading record at 15:33.

Yahoo finance's USDMYR: 4.324 now, compare to 4.51 last week.
Ringgit already stabilise

@Ricky Kiat,
Yes. Do note that TAA is in crazy expansion now and its fare in 3Q2016 drop 10% YoY.
If its fare able to maintain at 2015 level, it wouldn't be just 318%.

One year ago, RM drop from 3.76 to 4.39 in 3 months (-0.63, 16% drop), yet AAB still surviving and living even better now.
Now, RM just drop from 4.20 to 4.50 (offshore, onshore 4.27) (-0.30, 7% drop), i would say isn't wise to panic sell.

Btw, I panic add AA last Friday when it drop to 2.76 and buy beyond my capacity. Got to sell it in next 2 days XP

Above figure doesn't include results of associate and taxation. It will be even better if include TAA & IAA results.

Just did my study on impact of USDMYR if it rise to 1:5.00 and maintain on that for 1 year.
The result is AAB will still having full year profit of RM 200mil.
As forex loss is one-time effect, in 2th year, AAB's profit will restore to RM 1200mil, EPS of 0.36.
In 8x P/E, it mean RM2.88

@sell, normally when newspaper tell you ringgit will up, it will drop. If they tell you it will drop, it normal raise.

@@

http://business.mb.com.ph/2016/11/10/philippines-airasia-to-establish-4th-hub/

Meanwhile, some funny news in India.

http://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/air-tickets-bought-using-old-rs-500-and-rs-1000-notes-to-be-strictly-non-refundable/articleshow/55353991.cms

http://centreforaviation.com/news/thai-airasia-to-operate-51-aircraft-at-the-end-of-2016-add-five-to-six-pa-614093
TAA fleet expect to grow at rate of 5~6 aircraft PA

Wow, at this bad market sentiment, still can close flat at this huge volume

I believe AA will take delivery of about 20 aircrafts, with 10 go to India, 5 to TAA, and remaining to MAA, PAA & IAA.

4. AA will take deliveries of a lot more than 10 A320neo