Air Asia. 8th Straight Quarter Loss
Air Asia. 8th Straight Quarter Loss
http://www.bbc.com/news/business-34941119
I'm a fan of Air Asia and fly with them often, to the point of being an Air Asia High Flyer, and I was surprised to read of their 8th straight quarter loss being almost $100 million this last quarter. I wonder how many more bad quarters they can absorb before we see a hike in prices. A few weeks ago I flew from Perth to Bali for $100 and only yesterday arrived into Kathmandu from KL for $146. I expect these type of promo fares to become rare.
I'm a fan of Air Asia and fly with them often, to the point of being an Air Asia High Flyer, and I was surprised to read of their 8th straight quarter loss being almost $100 million this last quarter. I wonder how many more bad quarters they can absorb before we see a hike in prices. A few weeks ago I flew from Perth to Bali for $100 and only yesterday arrived into Kathmandu from KL for $146. I expect these type of promo fares to become rare.
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11 billion RM net debt. No real free cash flow. Dead man walking?
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That'd be a major blow to many sea xpats. Long haul isn't a profitable development, they should cancel those routes and remain regional.
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You'd have expected them to have had a big cost saving with oil in the $40-$50 range as well.
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Not if they signed long term contracts a year ago.....rl66 wrote:You'd have expected them to have had a big cost saving with oil in the $40-$50 range as well.
What seemed cheap back then, turned out to be, eh....
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Hope the scamming fuckers crash and burn. Not on Sunday though; I fly with them.
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Nearly. We got that damned work thing looming over us.Gin&Tonic wrote:Holiday finished already?andyinasia wrote:Hope the scamming fuckers crash and burn. Not on Sunday though; I fly with them.
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It's the 8th straight quarterly loss for its long-haul sub, Air Asia X. Otherwise, the parent company posted a profit in the year-ago third quarter. But this latest quarterly loss was quite a hit.
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You're quite correct Kachang, I should have said dependent on their hedging policy. Out of curiosity I did a search on that and found this article, 60% hedged at $80 a barrel to the end of the year and no hedging next year to save $160m. The comments re currency weakness and its impact are interesting.Kachang wrote:Not if they signed long term contracts a year ago.....rl66 wrote:You'd have expected them to have had a big cost saving with oil in the $40-$50 range as well.
What seemed cheap back then, turned out to be, eh....
http://www.thestar.com.my/Business/Busi ... ?style=biz
AirAsia sees US$160mil savings from lower fuel price
Tony Fernandes: (The devaluation of) oil has a much bigger impact for us (in foreign exchange terms).
Tony Fernandes: (The devaluation of) oil has a much bigger impact for us (in foreign exchange terms).
KUALA LUMPUR: AirAsia Bhd foresees US$160mil (about RM650mil) in cost savings next year from weakening crude oil prices as the group's hedging tenure ends in 2015.
"Sixty per cent of the AirAsia fleet is hedged. Oil is a very big component of our costs and that has tumbled. No hedge next year," said group chief executive officer Tan Sri Tony Fernandes.
Currently, the group's hedging level is about US$80 per barrel, which is about 50% higher than the market price.
"From the financial point, the currency devaluation is nothing compared to the oil devaluation. (The devaluation of) oil has a much bigger impact for us (in foreign exchange terms).
"The currency situation that we're in is actually an opportunity for us. We see the opportunity to attract more people (to fly). We don't see a slowdown (in our business)," he told reporters after the launch of a new in-flight menu concept themed "Santan" and the introduction of on-board purchase and pre-book menus on AirAsia and AirAsia X flights.
He said AirAsia X has benefited the most from the weakening of the local currency as the long-haul, low-cost affiliate carrier of AirAsia has a lot of income from foreign passengers, including Australians, Japanese and Koreans. - Bernama
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As an aside he's lost a shed load of cash with his shared ownership of QPR as well. $100m loss in season 12/13 was the biggest loss of any Premiership club. Qatar Airways backs Barcelona and Air Asia backs QPR
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http://www.nationmultimedia.com/busines ... 73891.html
U-tapao Airport
7 more carriers look to U-tapao Airport
SUCHAT SRITAMA
THE NATION
U-tapao
November 28, 2015 1:00 am
At least seven airlines are planning to begin operating at U-tapao Rayong Pattaya International Airport to serve tourists and business travellers.
Rear Admiral Worapol Tongpricha, director of U-tapao Airport, said it had received more commercial air traffic since it opened full services.
He said at least seven airlines including Hong Kong Airlines, China Southern, Okay Airways, Emirates, and local operator Pattaya Airlines planned to operate flights into U-tapao Airport.
Hong Kong Airlines plans to operate four fights per week, while China Southern expects to start operations in January. Pattaya Airlines will resume its services. The rest are working on their business plans.
Worapol said Terminal 2 was still undergoing construction at a cost of Bt800 million, but when it is completed next year it will increase annual capacity by a million passengers.
From October last year to last month, the number of passenger rose tenfold thanks to more airlines using the airport.
"We believe that U-tapao can attract more airlines and travellers as its passenger service charge of Bt400 per passenger is lower than Bt700 at Suvarnabhumi Airport. Parking and landing fees are also more than 60 per cent cheaper than at Suvarnabhumi," he said.
Several airlines are already operating scheduled flights at the airport such as Bangkok Airways, Kan Air, and Thai AirAsia. Tassapon Bijleveld, chief executive officer of Thai AirAsia, said the airline inaugurated four new routes yesterday, flying from U-tapao Airport to Chiang Mai, Udon Thani, Singapore and Macau.
The airline celebrated the occasion by giving 60 young people from Chiang Mai and Udon Thani their first flight experience, flying them to U-tapao to visit HTMS Chakri Naruebet, the Royal Thai Navy's aircraft carrier.
AirAsia now operates eight routes from U-tapao Airport. It flies to Kuala Lumpur four times weekly, Nanning three times weekly, Nanchang four times, Singapore seven times, Macau seven times, Chiang Mai 10 times, Udon Thani seven times and Hat Yai four times, for a total of 46 flights a week.
U-tapao Airport is AirAsia's fifth flight hub connecting the Eastern region to the rest of Thailand and international destinations, and the airline has noted a strong positive response.
"We are proud to have to started and to be a part of U-tapao Airport's burgeoning vibrancy and ability to welcome commercial air travel. We have stationed two Airbus A320 [aircraft] at U-tapao Airport, which serve a total of eight routes," Tassapon said.
Thai AirAsia expects to serve 14.5 million passengers with a load factor of 82 per cent this year. Next year, the airline hopes to carry 16.5 million passengers with an 82-per-cent load factor.
The airline is scheduled to receive five more aircraft next year, which will help it add two new routes to India and several in the domestic market.
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