Asia Aviation has decided to walk away from a potential stake acquisition in struggling low-cost rival Nok Air.With respect to announcement of Asia Aviation Public Company Limited to the Stock Exchange of Thailand on February 25, 2019 regarding the clarification of news in relation to an acquisition of shares, please be advised that the Company shall not further proceed on such matter,” says the parent of Thai AirAsia in a brief stock exchange statement.Asia Aviation gave no details for it...
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Indonesia AirAsia's (IAA) parent company, AirAsiaIndonesia, posted an operating loss of Rp782 billion ($55.6 million) for 2018 as the airline was hit by higher fuel and operating costs. The result is a stark contrast to the Rp328 billion operating profit realised in 2017.Revenue for the year to December 2018 rose 11% to Rp4.2 trillion, while expenses jumped 31% to Rp5.52 trillion, due to higher fuel, maintenance, airport charges, and aircraft leasing costs took a hit on the company.Indonesia...
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Thai AirAsia parent company Asia Aviation (AAV) has confirmed that it is considering taking a stake in loss-making carrier Nok Air. The company confirmed its interest in a Stock Exchange of Thailand disclosure, following Thai media reports indicated that it had come to an agreement to acquire a stake in Nok from that carrier's majority shareholders, the Jurangkool family.In its statement, AAV's chief financial officer Santhat Sanguandikul states that while the company is "currently ...
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AirAsia X posted a full-year operating loss of MYR204 million ($50 million) in 2018, reversing last year's operating profit of MYR113 million as flat revenue and higher fuel costs took a hit on the operator. Revenue for the year fell by 0.4% to MYR4.54 billion. Expenses rose 5.9% to MYR4.78 billion, as higher fuel prices offset lower maintenance and aircraft leasing cost.The company also turned in an attributable net loss of MYR313 million, compared to a MYR98.9 million net profit last year....
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Thai AirAsia X will launch four-times weekly services from Bangkok Don Mueang to Brisbane from 25 June, making it the first AirAsia-branded carrier to serve the Queensland capital. FlightGlobal schedules data shows that the flights, which will be operated by Airbus A330-300s, will compete with Thai Airways International’s four weekly Boeing 777 services that fly to Bangkok Suvarnabhumi airport.This new route to Brisbane will not only increase traffic between Thailand and Queensland, but im...
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AirAsia and AirAsia X have increased their claim against Malaysia Airports Holdings (MAHB) by around MYR80 million ($19.5 million), as it presses for mediation with the airport operator. The low-cost carrier says that the "main part" of the MYR480 million in claims comes from a loss of customers in the last four years, owing to disruptions and poor condition of the KLIA2 terminal at Kuala Lumpur International airport.The two carriers had previously indicated that they would make a clai...
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AirAsia and AirAsia X have filed motions to have an MYR36.4 million ($8.8 million) lawsuit brought against them by Malaysia Airports (MAHB) over unpaid passenger service fees struck out, and made a separate MYR400 million claim against the airport operator. In December 2018, MAHB issue of a writ of summons for MYR9.4 million from AirAsia, and an MYR27 million claim against AirAsia Xover unpaid passenger service charges....
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AirAsia X Group co-founder Tony Fernandes claims that long-haul, low-cost carrier will see its most successful year in 2019. In a series of tweets, Fernandes says that the company is "the most undervalued airline", and that it has "done all the hard work".This includes having cut "silly routes", renegotiated [aircraft] leases, increase utilization and cut costs. Moreover, he adds that its competitors Its airlines that were burning taxpayers' money that caused Ai...
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AirAsia has confirmed that it has been approached by 13 potential purchasers for some of its aircraft and its aircraft leasing business, including US fund Castlelake. The carrier issued a stock exchange statement on 13 December, noting that the expressions of interest were from buyers interested in its leasing unit, Asia Aviation Capital, and/or a number of our remaining aircraft assets. However, the company has not entered into any legally binding contract with any of the parties involving the ...
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AirAsia has signed a memorandum of cooperation for a Vietnamese joint venture with Thien Minh Travel, a unit of the tourism group that AirAsia previously tapped as its local partner in April 2017. A joint statement from AirAsia the Thien Minh Group reaffirmed their intentions to launch the carrier but gave no details of the memorandum’s contents, nor any mention of the joint venture’s proposed launch date, fleet composition, and route network. To demonstrate the joint venture’s...
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