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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MAS has not yet cut capacity and is instead focusing on trying to woo passengers through promotional fares. While the flag carrier has completed several initial milestones from the recovery plan initially outlined in late Aug-2014 it will take several more months for the main components of the plan to be implemented.
Bigger changes are inevitable starting in 2H2015. But adjustments to capacity levels and the carrier’s fleet could be smaller than anticipated.
AirAsia X joins AirAsia in slowing expansion in challenging Malaysia market; cuts Australia capacity
AirAsia X has joined sister low-cost group AirAsia in slowing its expansion in the Malaysian market by selling aircraft, deferring deliveries and wet-leasing excess capacity. The two Malaysian subsidiaries of the AirAsia/AirAsia X groups combined now only plan to add one aircraft, an A320, in 2015.
The adjustments should help drive improvements in yields and profitability. AirAsia X incurred a loss for the fourth consecutive quarter in the 3Q2014 while AirAsia saw its profits slip again - although remaining among the most profitable in the region.
AirAsia and AirAsia X are wisely not holding out for a restructuring at rival Malaysia Airlines (MAS), which at least for the time being is not pursuing any significant reductions to capacity. AirAsia X, which recorded 42% ASK growth in the first three quarters of 2014, will now only increase ASKs in the Malaysian market by 5% in 2015.