AirAsia announced (15-Jan-2010) 50.36% of the issued and paid-up share capital of the carrier were held by foreigners as at 31-Dec-2009, thus exceeding the 45% limit of the carrier's total issued and paid-up share capital. Pursuant to the Securities Industry (Central Depositories) (Foreign Ownership) Regulations 1996, shares held by foreigners which are within the Prescribed Limit shall be entitled to all rights and entitlements attached to the shares. However, shares held by foreigners which have exceeded the limit shall also be entitled to all such rights and entitlements, except for the exercise of voting rights. [more]
AirAsia announces foreign ownership exceeds limits
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Lion Air Group Malaysian affiliate Malindo Air is planning to add capacity to India and Thailand in 4Q2014 as part of the next phase of its international expansion. Services to North Asia including mainland China are expected to be launched in 2015 as part of a subsequent phase.
Malindo has been focusing on Bangladesh, India and Indonesia since it launched international services just under a year ago. Malindo also now serves Bangkok in Thailand.
Malindo so far this year has concentrated on domestic turboprop expansion but will resume growing its international operation in 4Q2014 as it adds two 737-900ERs. The two aircraft will be Malindo’s first additional jets in over a year and will likely be followed by faster expansion of the 737 fleet in 2015. This is the second of a two part report on Lion Group's Malindo.
Malaysia’s Malindo Air rapidly grows turboprop operation with new Penang base and Subang expansion
Lion Air Group Malaysian affiliate Malindo Air is focusing expansion in 2014 on its turboprop operation in response to opportunities on short routes within Malaysia. Malindo added five ATR 72-600s in 1H2014 and is taking another five in 2H2014, giving it a fleet of 13 ATR 72s but only eight 737-900ERs.
The heavy reliance on turboprops was not expected but enables Malindo to serve routes that are under the radar screen of all-A320 operator AirAsia. Malindo is instead competing mainly with Malaysia Airlines regional subsidiary Firefly as it has focused most of its expansion so far this year at Kuala Lumpur’s second airport Subang.
Malindo is planning to open by the end of 2014 a second turboprop base at Penang and is also looking at potentially opening bases in the east Malaysian cities of Kota Kinabalu and Kuching. The new bases will support several new routes, some of which are completely unserved.