Posted by freddiehero > 2020-10-22 13:24 | Report Abuse

aax in trouble? AA in protect?

Posted by Mabel > 2020-10-22 13:26 | Report Abuse

Come Come AA join us in Gloves..

Mabel current exposures on Airlines is only 1000 shares each for AA and AAX. More than enough to attend AGM if I wanted too.

Mabel first flight was on Cessna Aircraft when Mabel was small. Since then Mabel always love Airlines. It's a pity that C19 kills everything that was built over the years...

Let see how this episode is unfolded...

Meow..

Posted by wafryer > 2020-10-22 13:27 | Report Abuse

what about this Tony, AA group import tesla to malaysia and become reseller

Posted by aliyusof > 2020-10-22 13:28 | Report Abuse

Rm300m loan can last only one month or so operational expenses.....

Posted by Good123 > 2020-10-22 13:39 | Report Abuse

KUALA LUMPUR (Oct 22): A notice to creditors for submission of proof of debt or claim on Malaysian Airline System Bhd (MAS), which was published in a local newspaper, has been sighted making rounds on social media and is believed to be part of the continued process on the liquidation of the now defunct company.

“Notice is hereby given that creditors of the company, whose debts or claims have not already been admitted, are required not later than 5pm on Nov 12, 2020 to prove their debts or claims and to establish any title they may have to priority by delivering by hand or sending by post to the Liquidator at the address below,” it said in the newspaper notice dated today.

The liquidator stated is KPMG Deal Advisory Sdn Bhd, which is understood to have been appointed at the beginning of this year.

A similar notice in a newspaper had been published earlier in February appointing KPMG as the interim liquidator for MAS.

MAS was taken over by Malaysia Airlines Bhd on Sept 1, 2015 as part of the national airline’s recovery plan.

Malaysia Airlines is owned entirely by the government through sovereign wealth fund Khazanah Nasional Bhd.

In a statement today, Malaysia Airlines clarified that the notice to creditors for submission of proof of debt or claim that has been circulating on social media is one of the processes of liquidation undertaken by KPMG for the old entity MAS, as the appointed liquidator of the company since February.

"The matter is unrelated to Malaysia Airlines and is in no way part of its current restructuring exercise,” it added.

Industry sources said today’s advertisement posting is likely part and parcel of the whole liquidation process, which takes time as it involves many legal considerations.

A slow recovery process worsened by the global impact of the Covid-19 pandemic on the travel and airline sector, Malaysia Airlines is now appealing to creditors to take a significant haircut on debts owed as it is unable to meet its payment obligations.

The Edge weekly on Oct 5 reported that the airline has started negotiations with existing creditors to restructure legacy liabilities and commitments of around RM16 billion that have been with its holding company Malaysia Aviation Group Bhd for many years.

Reuters had also reported that the airline’s cash is expected to run out by November without a restructuring plan.

Posted by aliyusof > 2020-10-22 14:02 | Report Abuse

Yup, tough to survive current conditions. Go under and use Firefly and rename it with a national carrier name. Firefly is small and more for domestic flights. Afterall, in next 12 months, do not see international flights actively resumed, so have time to scale it up. The losers are tac payers and all creditors. In another few years, will see Firefly going for another bailout or rescue plan. How many rounds of bailout or rescue MAS or Perwaja or Proton in history? Nothing new

Posted by wafryer > 2020-10-22 14:15 | Report Abuse

Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,Tony Tesla,

Posted by oskchoon > 2020-10-22 15:21 | Report Abuse

Air Asia and AAX are in big crisis and Mr. Tony F keep silent as if he is not responsible as a CEO to give his billions dividend money to salvage his own company, perhaps he think it is the responsibility of the Finance Ministry to use the taxpayer's money to bail out AirAsia and AAX, pls tell him, our Malaysian citizens are not blind nor stupid to let him continue to be the richest man in Asia....

Posted by oskchoon > 2020-10-22 15:26 | Report Abuse

Let's see how long he pretend to be innocent and keep on living in a luxury lifestyle whereas his so called beloving employees losing their jobs and remains as the richest CEO around...

Posted by Gloveslayer5566 > 2020-10-22 16:02 | Report Abuse

survive this crisis ,you will be the next superstar like GLOVE COUNTER

Posted by Alfonso > 2020-10-22 16:26 | Report Abuse

Meow~ woof woof

Posted by supafly83 > 2020-10-22 17:03 | Report Abuse

hello 50sen.

Posted by sampooler > 2020-10-22 17:09 | Report Abuse

yes, waiting 50 cent

Posted by Will188 > 2020-10-22 17:15 | Report Abuse

We will buy AA at RM1, same as Tony.

Posted by NoNonsenseHere > 2020-10-22 19:10 |

Post removed.Why?

Posted by abcb > 2020-10-22 19:35 | Report Abuse

Tony said now everyone cannot fly, stay at home, don't come out, OK

Posted by Good123 > 2020-10-22 19:59 | Report Abuse

cash burn quarterly, mana boleh tahan :)

AIRASIA GROUP BERHAD
(Company No. 1244493-V)
SECOND QUARTER REPORT ENDED 30 JUNE 2020
7
UNAUDITED CONDENSED CONSOLIDATED CASH FLOW STATEMENTS
The condensed consolidated cash flow statements should be read in conjunction with the audited financial
statements for the financial year ended 31 December 2019 and the accompanying explanatory notes
attached to the interim financial statements.
30/06/2020 30/06/2019
RM'000 RM'000
CASH FLOWS FROM INVESTING ACTIVITIES
Property, plant and equipment
- Additions (92,987) (56,700)
- Proceeds from disposal 9,382 1,013,210
Addition in intangible assets (4,675) (12,459)
Proceeds from other investments 4,261 -
Additional investments in investment securities - (7,725)
Additional subscription of shares in associates - (147,001)
Investment in joint venture (2,025)
Net cash (used in)/generated from investing activities (86,044) 789,325
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from borrowings 148,317 311,224
Dividends paid - (401,037)
Interest on lease liabilities (141,369) (231,141)
Repayment of borrowings and lease liabilities (631,997) (1,656,645)
Net cash used in financing activities (625,049) (1,977,599)
NET (DECREASE)/ INCREASE FOR THE FINANCIAL PERIOD (1,667,019) 64,591
CASH AND CASH EQUIVALENTS AT BEGINNING
OF THE FINANCIAL YEAR 2,588,097 3,326,921
CURRENCY TRANSLATION DIFFERENCES 75,043 (164,548)
CASH AND CASH EQUIVALENTS AT END OF
FINANCIAL PERIOD 996,121 3,226,964

Posted by Good123 > 2020-10-22 19:59 | Report Abuse

last quarter burned RM 1.6bil

Posted by Good123 > 2020-10-22 20:11 | Report Abuse

HONG KONG: Cathay Pacific is to slash up to 5,900 jobs and shutter its Cathay Dragon subsidiary, the Hong Kong carrier said Wednesday, joining a growing list of airlines making swingeing cuts as they reel from the coronavirus pandemic.

Across the globe, airlines have been hammered by the pandemic slashing international travel and they face a long, hard winter after a much-hoped-for rebound failed to materialise.

On Wednesday, Cathay Pacific published a corporate restructuring plan that will lead to thousands of job losses and one of its airlines to disappear completely.

"The global pandemic continues to have a devastating impact on aviation and the hard truth is we must fundamentally restructure the Group to survive," CEO Augustus Tang said in a statement.


"We have to do this to protect as many jobs as possible and meet our responsibilities to the Hong Kong aviation hub and our customers."

Bosses said 5,300 redundancies would be made among the airline's Hong Kong-based employees with a further 600 losses overseas -- the equivalent of 17 percent of its total workforce.

Including a recruitment freeze and natural attrition, 8,500 positions will disappear in total.

Cathay Dragon, a subsidiary that primarily flies shorter-haul flights within Asia, will cease operations.

The company is seeking regulatory approval to absorb Dragon's routes into Cathay Pacific and its budget airline HK Express.

Airline revenues plunged 80 percent in the first six months of the year, according to industry body IATA, but they still had fixed costs to cover -- crew, maintenance, fuel, airport levies and now aircraft storage.

Repeated efforts to reassure passengers that air travel is safe have failed to make much of a difference while government restrictions, including quarantines of up to 14 days for returning passengers, have only added pressure. Dozens of major airlines

have slashed jobs in response.

Even before the pandemic, Cathay Pacific was in a tight spot.

Months of huge and disruptive democracy protests in Hong Kong last year led to a plunge in customers, especially from the lucrative mainland Chinese market.

The airline also found itself punished by authorities in Beijing because some of its employees joined or voiced support for the protests.

By the time the pandemic hit at the start of the year, Hong Kong was already in recession and Cathay Pacific in the red.

Tang said the airline was currently burning through up to HK$2 billion ($260 million) in cash each month during the pandemic.

"This is simply unsustainable. The changes announced today will reduce our cash burn by about HK$500 million per month," he added.

There is scant hope on the horizon.

In a note to investors on Monday that detailed its most optimistic scenario, Cathay Pacific said it expected to run at half its pre-pandemic capacity next year.

One of the biggest disappointments for airlines has been the absence of highly lucrative business class travellers who prefer now to rely on tele-conferencing rather than run the risk of catching the virus.

Airlines are hopeful that better testing procedures at airports and "travel bubbles" between countries might encourage more people to fly.

Work on the latter has been slow, especially as the virus surges for a second time in Europe and North America.

Last week, Hong Kong and Singapore announced plans for a "travel bubble" to allow people who test negative for the virus.

Once the scheme comes in, passengers who test negative for the virus will be able to travel on dedicated flights and not need to quarantine on arrival.

- AFP

Posted by Good123 > 2020-10-22 20:12 | Report Abuse

KUALA LUMPUR (Oct 22): The Malaysia Aviation Group (MAG) has offered a voluntary separation scheme (VSS) for employees while negotiations are ongoing with creditors and lessors over Malaysia Airlines Bhd’s (MAB) restructuring plans.

The MAG Early Retirement Application form, which was sighted by Bernama, is aimed at employees across the board including its subsidiaries MAB, MASwings, MAB Kargo, AeroDarat Services, Firefly, Hijrah Biru, and the MAB Academy.

The exercise is targeted at Malaysia-based employees aged 45 and above who have served the company continuously for a minimum of 10 years, including years of service in the Malaysia Airlines group.

Commenting on the move, National Union of Flight Attendants Malaysia president Ismail Nasaruddin said the decision was considered “fair” in view of other airlines’ extreme decision to pare down entire operations before offering any separation scheme or compensation.

He said the VSS offer had been made and it now depended on the employee whether or not to take up the offer.

“They (MAG) are not paying much; the VSS offer is only for three months’ salary.

“If the outcome from this offer doesn’t match with the numbers they are looking at, then more drastic measures may be implemented such as termination or retrenchment,” he told Bernama based on information gathered from internal sources in MAG.

Ismail believes a retrenchment compensation would likely offer less than what had been offered in the VSS, and about 50% of MAG’s employees are eligible for the offer, including those transferred to the group during the corporate restructuring previously.

As for MAB, it still has a 12,000-strong workforce despite facing challenges from the pandemic that caused the airline and the industry as a whole to suffer from weak demand.

Posted by Fundamentaler > 2020-10-22 20:24 | Report Abuse

Loan 1billion.. loss 1.6billion

Posted by shortinvestor77 > 2020-10-22 20:58 | Report Abuse

https://www.klsescreener.com/v2/news/view/743659

Posted by shortinvestor77 > 2020-10-22 21:02 | Report Abuse

https://www.klsescreener.com/v2/news/view/743637

Posted by wongchin > 2020-10-22 21:16 | Report Abuse

Today seem shark sell on news. Maybe shark waiting for this kind of news to off load their big no of share to some sohai aa chaser.

Posted by ivanlau > 2020-10-22 21:37 | Report Abuse

--------- quote -----

Stock: [AIRASIA]: AIRASIA GROUP BHD

Sep 6, 2020 8:40 PM | Report Abuse

------------ quote -----------
Stock: [AIRASIA]: AIRASIA GROUP BHD

Jul 6, 2020 7:43 PM | Report Abuse

sorry to say...... new tp 65 - 70 cents...........
----------- unquote -------

As per my new calculation, new tp now change to 55 cents.

---------- unquote -------

today closing 0.555 just match my prediction at 6/sept - 55 cents

Posted by freddiehero > 2020-10-22 21:46 | Report Abuse

u so strong..

Posted by freddiehero > 2020-10-22 21:48 | Report Abuse

my prediction 0.20 until jackpot price.. since 3.60

Posted by Sweetchocalates > 2020-10-22 22:12 | Report Abuse

Parking at 0.05

Posted by freddiehero > 2020-10-22 22:33 | Report Abuse

nice tp good luck

Posted by kdginvest > 2020-10-23 09:06 | Report Abuse

AA EXPECT TO FLY TODAY!!!

Posted by mdesa5057 > 2020-10-23 09:08 | Report Abuse

https://www.msn.com/en-my/money/topstories/rm300mil-loan-for-airasia/ar-BB1ah6qv?li=BBr8Hnu&ocid=iehp

Posted by mdesa5057 > 2020-10-23 09:10 | Report Abuse

KUALA LUMPUR: AirAsia Group Bhd dipercayai memperoleh pinjaman RM300 juta dari Sabah Development Bank Bhd (SDB) untuk mengekalkannya di tengah-tengah wabak Covid-19.

Pemerhati pasaran yang bercakap dengan syarat tidak mahu disebutkan namanya mengatakan syarikat penerbangan tambang rendah (LCC) kemungkinan akan menggunakan pinjaman itu untuk membiayai operasi tempatannya termasuk membayar gaji pekerja dan penyewaan pesawat.

Posted by Donator > 2020-10-23 09:19 | Report Abuse

Is "LOAN" not income , is "LOAN" not income, is "LOAN" not income..be careful...

Posted by Godofgambler > 2020-10-23 09:29 | Report Abuse

Tony was right.
We cant live in the cave forever.
People need to fly.

Posted by yong1985cm > 2020-10-23 09:31 | Report Abuse

if bank of sabah willing to lend to AA, what on earth at this point of time got bank willing to borrow to him? isn't the bank is not stupid and have did its assessment that the AA biz can be sustained during covid19. May be AA have solid evidence/prove provided to bank of sabah that there are other funding coming in, then only bank of sabah will relief and granted the loan of RM300mil? the rest of the funding is in pipeline and coming?

Posted by sampooler > 2020-10-23 09:47 | Report Abuse

【新冠肺炎】研究指客机上感染风险低　世卫：但非不可能

https://www.orientaldaily.com.my/news/international/2020/10/23/370816

Posted by Godofgambler > 2020-10-23 09:49 | Report Abuse

Yong1985..
Airasia are doing something different..
They are diversifying. They have upcoming Santan restaurant outlets.
IT platform like alibaba.. Doing some online sles not mistaken...

Posted by DChosen2 > 2020-10-23 10:14 | Report Abuse

People will start flying despite the pandemic but with new SOP as norm. A BIG FAT BUT is AA's business model is based on cheap affordable ticket with quantity to support its profit margin. Unless they changed into premium luxury like SIA, I dont think they can survive.

Posted by Bearrabbit > 2020-10-23 10:15 | Report Abuse

Better sell buy American. Got government support guarantee die no go.

Posted by yong1985cm > 2020-10-23 11:47 | Report Abuse

Yes they do have new ventures to other biz , but the profit generated is very little and basically AA still 99% depend on its core biz which is fligt. the new ventures is very potential for somebody due to its follow the mega trend right now which is the Air Asia 3.0 (fintech, AI, big data, cloud and so on). so even the bank or whoever funder also understand this scenario well, and if these new funder willing to fund AA right now, mean they are confident that the biz will survive?

Posted by humbleisland > 2020-10-23 12:22 | Report Abuse

Regardless of potential of its business, no banker in his/her right mind will lend to a company in AA's situation unless it is secured by substantial collateral, guaranteed by creditworthy parties and/or the company has agreed to do certain things (e.g. raise funds within a certain period).

1. Collateral seems highly unlikely as the company either may not have assets of that value to give as security or its assets are already charged/assigned to other creditors. An intercreditor arrangement may be possible but unlikely due to the nature of the matter.

2. Guarantee may be possible, either from TF/KM or soft guarantee from the state of Sabah or government of Malaysia. If TF/KM guarantees, they need to ensure that the company survives otherwise they will also need to out of pocket potentially the entire RM300m, so no. 3 below is likely.

3. Company doing certain things, e.g. taking on another loan of X value and/or fund raising (private placement or rights issue)? If another loan, see no. 1 and 2 above. If private placement, then up to 20% of the enlarged ordinary share capital can be issued to an investor/financier. If rights issue, TF/KM must mop up all the remaining shares to show confidence.

Everything suggests that further funding will be obtained in the near term.

Posted by NoNonsenseHere > 2020-10-23 13:09 | Report Abuse

"gLoVe Is A BubbLE" "wiLL BuRsT"
Burst what? You can lie but the numbers never lie.

Gloves going to burst?

Glove supply will not meet demand in next three years
https://www.theedgemarkets.com/article/glove-supply-will-not-meet-demand-next-three-years-says-hartalega-executive-chairman

The Big 4 Glove companies can't even meet the demand for the next 3 YEARS.
Meanwhile, hotels will remain closed for years, airlines have nowhere to go to and banks CANNOT lend.

Genting LOST RM786 million in one quarter and will continue to incur losses.
Supermax GAINS RM1 billion (28 Oct QR expected) in one quarter and will continue to grow.

Maybank market cap (80b) is THREE TIMES larger than Supermax (26b) but Supermax defeats Maybank's profits.
Fantastic.

Supermax's Own Brand Marketing in North America:

Supermax's Canada OBM Aurelia Gloves™: https://aureliagloves.com/about/

Supermax OBM Mask BeyondMask™: https://mybeyondmask.com/

Posted by NoNonsenseHere > 2020-10-23 13:11 | Report Abuse

-
The naysayers say, "HOW CAN SUPERMAX EARN RM1 BILLION AND ACHIEVE AN EPS OF 37 IN ONE QUARTER?"

The answer:

Supermax's Canada OBM Aurelia Gloves™: https://aureliagloves.com/about/

Supermax OBM Mask BeyondMask™: https://mybeyondmask.com/

Supermax's is earning USD and Canadian Dollars with their own brand marketing and huge production capacity of gloves and masks.

Maybank market cap (80b) (RM940 million profit previous quarter) is THREE TIMES larger than Supermax (26b) (RM1 billion profit Oct 28 QR) but Supermax defeats Maybank's profit.

Posted by newbie1111 > 2020-10-23 13:31 | Report Abuse

RM 300 enough for two months?

Posted by Alfonso > 2020-10-23 16:51 | Report Abuse

300M cant stay for long but better than nothing..............

Posted by steven20 > 2020-10-23 17:03 | Report Abuse

I believe today many people get trap. hahahah

Posted by i3lurker > 2020-10-23 17:04 | Report Abuse

RM300 million just lasts few seconds to pay old debts

Posted by aliyusof > 2020-10-23 20:00 | Report Abuse

Stop RM300 million Sabah loan to AirAsia, says SAPP chief

https://www.freemalaysiatoday.com/category/highlight/2020/10/23/stop-rm300-million-sabah-loan-to-airasia-says-sapp-chief/

Posted by aliyusof > 2020-10-23 20:04 | Report Abuse

Yup, RM300 m loan is chicken feed vs the huge debt incurred.

Posted by limkokthye > 2020-10-23 21:50 | Report Abuse

ask tan sri lim wee chai to take over airasia