Sometime in the future, the Khazanah people together with CIMB I suppose, will lend Tony’s Tune Air a lot of money to mop up the entire shares in Air Asia. Then Air Asia will be injected into a listed vehicle like MAS freeing Tune Air from debt. Tony’s share via Air Asia which will then be injected into MAS will be converted into substantial shareholding in our national carrier. Maybe from 20% to 40 pct.
Then with so many factors assisting Tony and Kamarudin, MAS does indeed make profit. Some bright people at Khazanah will advise the PM to suggest since Mr. TF is already the single largest shareholder of MAS and he has made profit why not merge Air Asia with MAS? By Jove, what a jolly good idea, I'd say.
It’s a long bullshiting exercise but one necessary to lead astray so many pesky bloggers. Some of them buyable but others are not
The people at MAS appear to blame some unprofitable costs center (such as Firefly) for its losses. And it believes that removing this will turn MAS profitable plus having Tony and whoever else on board will allow MAS to benefit from their skills.
What does the deal give Air Asia? It will also involve actually giving unhindered access to Air Asia to get more profitable routes. It will also involve removing a potential competitor in the form of Firefly which will be re-launched to become a regional carrier. Will that place it on a collision course with the AA associate Asia X? (Is that a porn rated business or what?)
It has chosen the easy way out at the behest of some vested parties in Khazanah, Air Asia and the common matchmaker. Plus it’s all done in a cloak of secrecy? Why? Afraid someone else can turn out to be a spoiler?
Yes we all agree it’s the business acumen, it’s the entrepreneurial talent that are needed to help out MAS. Because if it’s a question of only the amount of grey matter, then those existing in Khazanah alone can potentially turn out to a source of star business school professors.
So that at the end of Tengku Azmil’s tour of duty, khazanah could declare to the PM, MAS is a hopeless case and the only way that it can saved is to bring in the white knight in the person of Tony Fernandes? (No pun intended yes Tony).
As promised I am now returning to a favorite hunting ground- the MAS AIR ASIA deal. It may been a slip of the tongue; the banker involved as match-maker said that, the arrangement between MAS and AIR ASIA was planned as far back as 2 years ago. That means some people undertook to grant unto themselves, god like qualities in deciding the fate of MAS.
Well, I think this is a stupid way of trying to solve MAS problems if it thinks the solution is injecting Fernades’s business acumen into the running of MAS. He is good- we can grant him that, but good for Air Asia not necessarily for MAS.
Next: Just a foot more, and MAS would have struck mother lode.