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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Malaysia Airlines' restructuring enters new phase with fleet & possible regional capacity reductions
Malaysia Airlines (MAS) has begun a new phase of its long restructuring process, as it starts to reject aircraft leases. MAS transitioned to a new company on 1-Sep-2015, but the restructuring in many respects is far from complete, and will take another year to implement.
MAS still has the flexibility to reject aircraft leases, giving it a benefit similar to US airlines that are restructuring through bankruptcy protection. While MAS cut capacity and head count prior to the transition to the new company, the flag carrier has only begun the process of reviewing its fleet.
A large portion of the fleet is expected to be returned over the next several months. More capacity cuts are possible, particularly in the domestic and short haul sectors, as MAS has already cut back its network outside Asia to a minimum level.
AirAsia Part 3: Philippines AirAsia plans 2016 growth as it establishes new secondary hubs
AirAsia’s operation in the Philippines is entering a new phase which the group hopes will lead to profitability in 2016 and eventually an initial public offering. Growth is also expected to resume in 2016, ending a phase of consolidation and fleet reductions.
The AirAsia Zest brand will be retired by the end of 2015 in favour of the Philippines AirAsia brand. AirAsia has already completed the transition to a single operating certificate in the Philippines, following a complicated and costly two years of maintaining two separate affiliates.
AirAsia’s Philippine operation has been highly unprofitable since it was launched in 2012. Turnaround efforts are banking on cost reductions driven by the transition to a single airline and higher yields that will be generated by a more international focused network. The network will be expanded to include several new routes from secondary hubs, in line with a new AirAsia Group strategy to open new unique point to point routes from secondary hubs throughout Southeast Asia.
This is the third in a Sep-2015 series of reports on the AirAsia Group, following CAPA's LCC Airports Congress in Bangkok.