Singapore Airline (listed in Singapore) reported widened profit as compared to last quarter; Cathay Pacific (listed in Hong Kong) reported profit after 2 years consecutive losses.
if Cathay Pacific can project to make HKD2.3b profit ...presumably likewise AA shud make d same with ease but in RINGGIT lo....hihihi....TF n co. shud follow CP style of announcement too...shud give shareholders alot to shout about too !!
Whether they win or not it does not matter, the issue is that both the regulator and the airport authority are not working for the benefit of Malaysia....they need to see the wider picture and what AA is trying to achieve. It should be seen as win win situation, and not treated as political or personality problem. Need to work in cohesion for Malaysia. That’s what western companies and some eastern companies and governments work towards a common goal. Remember AA is the best in the world in what it does. There is no equivalent in Europe, US, India, China.
"the issue is that both the regulator and the airport authority are not working for the benefit of Malaysia.."
This is the core issue. AA has been a milking cow when BN was ruling. Too many freeloaders from politicians to warlords demand their share. MAHB and MAVCOM has been a conduit to feed these parasites instead of benefits of MALAYSIANS. Now, AA may have had ignored some demand hence, the sabotage takes place in various form.
The ministry of transport should involved. First of all the PSC is set by government and MAVCOM. Mavcom is under MOT, this involve public interest. If the unjustifiable high profit in MAHB (not from its operational efficiency but come from it monopolised rate), then the rate is in question and why MAVCOM is not reviewing it periodically and same as ministry of transport.
And second thing I keep eyeing, is the tourism tax in hotel industry. It is not justifiable as well if nobody disclose the fund collected specifically spent to where. The new minister of tourism seem keep silence on it.
Both this not healthy to local tourism industry. Businesses to compete is normal, but if any party use its monopoly position to take advantage and the authorities keep silence on it then I think something is wrong.
Anyhow the claim is only rm9m, I think to AA only very small issue. And even after that, AA can just said airline do not have statutory obligation to collect them push back to Airport for self collection. Just imagine the investment cost for MAHB to structure a collection way.
To me, the lawsuit actually is not bad for AA. AA and AAX to use 40m to place a bet to force government to create a stand. If government/mavcom said AA is right, then the benefit created to business and end users will be very positive. However, if government said AA is wrong, government still want to impose such high fee to end user then government need to face the public comments on their stand.
So don't treat it negatively, this stake is worth to place. And is good time to place. You see now Economic Planning Department, EPF, Mavcom, soon Minister of Transport, Tourism all will come out. Then it force the rate to be reviewed. It is bad to MAHB as concessionaire but not AA.
Blame MAHB for affecting tourism. Dissolve MAVCOM and let MOT handle. AA is just a transport provider to ferry tourist in and out of country. Now, some smart ass thought it was okay to milk these passengers via AA.
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
EngineeringProfit
18,335 posts
Posted by EngineeringProfit > 2019-02-20 16:20 | Report Abuse
not yet. UP UP UP
MOREEE to earn