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Commentary on prospects
The quarter ended 31 December 2022 ended with strong load factors for the routes that the Group currently operatesas historically this is our strongest quarter. The operating environment for the next quarter is expected to contributepositively towards our financial results, where fuel prices are currently trending in our favour and the Company isseeing a stronger demand.
The Group is optimistic that the positive results will be sustainable well into the coming quarters. The Group expects16 aircraft within its fleet by end of 2023 fully activated and operational to cater to its network growth trajectory inthe coming quarters. Continuous plans are in place to relaunch scheduled flights, namely Hangzhou, Shanghai; andincrease in frequency of networks, namely Gold Coast, Seoul, and Busan.
Everything started to change in November 2021 when AAX had a debt restructuring exercise where they threatened creditors that non-acceptance of their proposed scheme would lead them to close down and the creditors would lose everything. AAX's scheme involved terminating all existing contracts and turning RM34 billion in liabilities (owed to Airbus, lessors, Malaysia Airports, banks, passengers etc) into just RM200 million! Guess what? The creditors agreed!
12 November 2021 was the day the creditors voted for the resolution and AAX effectively became one of the world's healthiest airlines financially on that day!
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The group sees fare trends to hover above pre-pandemic levels albeit with some rationalisation on the back of high international air travel demand.
“Ancillary revenue per passengers marked RM196 during the quarter, up 17% compared with the same period in 2019,” it added.
AirAsia X (AAX) 4th Mar 23 menyambung semula perkhidmatannya ke Shanghai, China dengan empat penerbangan mingguan dari Kuala Lumpur yang bermula kelmarin.
Penerbangan sulung pascapandemik dari Kuala Lumpur berlepas dengan muatan penumpang yang menggalakkan, manakala penerbangan pertama dari Shanghai pada awal semalam mencatatkan muatan 373 tetamu, iaitu hampir 100 peratus.
"Kami juga memulakan perkhidmatan penerbangan mingguan ke Hangzhou yang mencatatkan muatan 97 peratus Dr Kuala Lumpur,"
The core profit next quarter will also get larger because jet fuel prices have fallen significantly by around 20%. This reduction in fuel cost will flow straight to AAX's bottom line next quarter. In the latest quarter, AAX disclosed that they consumed 255.4k barrels of fuel at a price of USD129/barrel. Jet fuel is now at around USD100 per barrel. At the difference of USD29/barrel, AAX will earn an additional profit before tax of around RM33 million (USD29 x USD/MYR rate of 4.4 x 255.4k barrels)
At current moment vol is not enough to support this current price 1.35 is my point of view. Tomorrow Friday so be caution lar.... Trade at your own risk please don't blame others if things go side way
JQ ..I think cap A a lot of tickets...too heavy to move. furthermore, AAX latest EPS much more better .
AAX both profit and revenue was 4 folds Compare to previous Qtr.
AAX will takeover CapitalA aviation business and its net liabilities of RM 9.5 billion at RM10 Billion by issuing RM 10 billion AAX share to CapitalA. , around 8000M AAX additional share will appear in this account soon . it is a trap as i see it .
Actually, CapA can't enjoy the fruits of the aviation segment, if they really move the local airlines business to aax. That mean no matter how strong the aviation sector will be in the future, it not related with CapA anymore.
The digital business is still an unknown sector, CapA keeps pursuing people that digital business is a future and keeps growing, but we can see it still in loss.
Third, CapA still owed a big amount to its debtors, but aax did not.
Tan....what ever Cap A being to AAX.
the must being the Asets together, if not I do not think current AAX share holders so stupid to accept the proposal.
the current creditors already kena tipu once with accept the proposal in 2021...ha!
Everything started to change in November 2021 when AAX had a debt restructuring exercise where they threatened creditors that non-acceptance of their proposed scheme would lead them to close down and the creditors would lose everything. AAX's scheme involved terminating all existing contracts and turning RM34 billion in liabilities (owed to Airbus, lessors, Malaysia Airports, banks, passengers etc) into just RM200 million! Guess what? The creditors agreed!
Guess what? The creditors agreed! 12 November 2021 was the day the creditors voted for the resolution and AAX effectively became one of the world's healthiest airlines financially on that day!
Capital A still mother of AAX , if after RM10 Biilion Share to capital A , Capital A own over 70% of AAX dude , and Capital A airasia apps is selling above 95% of airasia tickets . Alan Gan wish you know what you are talking . capital A just pass the liabilities and cost to AAX in short say . it is games play by airasia .
major shareholders at capital A are not stupid , capital A must own AAX in order or agreement of exchange . Capital A still boss to AAX no matter what. RM10 billions worth share in agreement 。 how much total shares of AAX will be in near future? Current market capital you need to sum up rm10 Billions capital to consider the future pricing .
The Board of Directors wishes to announce that the Company and the appointed advisers are in the midst of formulating and/or evaluating the proposals to develop the Proposed Regularisation Plan to holistically restructure its business and financial condition.
Pursuant to the announcement dated 2 November 2022 in relation to the approval from Bursa Securities for the extension of time up to 28 April 2023 for the Company to submit its regularisation plan to the relevant regulatory authorities,
AAX reported a net profit of RM153.5 million or an EPS of 37sen. Stripping out unrealised gains, AAX reported a core net profit of RM90.2 million. Core profit excludes profits or losses that are one-off or unrealised. This is why it is called core profit, that is, the profit that is sustainable going forward. In the latest quarterly results report,
In the latest quarterly results report, it was disclosed that AAX incurred a positive other operating expense of RM48 million and an unrealised FOREX gain of RM15.3 million. Excluding these unrealised and one-off gains, AAX's core profit would be RM90.2 million (153.5 - 48 - 15.3) or EPS of 21.7sen.
We must also not forget that AAX reported a positive operating cash flow of RM93.6 million as disclosed in the latest quarterly report.
Alan Gan it is on the news , bro .. and inside the term agreement , if not do you think shareholders will agree , and at future capital a gain commision on every airasia tickets and business sale , and all aircraft repair and services will be done by capital a , mean most operation costs and so on wil be bear by aax , and capital a is focus on gaining profit from it . what nothing related to aviation , you comment are funny . Captain A is the mother, AAX is one of its son among other business.
"As one company, we can take out a lot of costs, but there will be separate operations by each individual airline," he told the media after launching the AirAsia SUPER+ Unlimited subscription package here on Monday (Dec 5).
Citing an example, Fernandes said the new separate operations will be of the same structure as International Airlines Group (IAG), which owns British Airways, Iberia Airlines and Aer Lingus.
He noted that once all the airlines are under one entity, each one will maintain its respective operation of short-haul and medium-haul flight services, with the company’s total of 225 aircraft comprising the Airbus A320 and A321 models.
“Going forward, [we see that our] major planes will be the A321 for both airlines. We want to grow again. Now we have an order book of 326 A321 aircraft,” he added.
He said this implies that four airlines under Capital A, namely AirAsia Malaysia, AirAsia Thailand, AirAsia Philippines, and AirAsia Indonesia, and AirAsia X Bhd (which operates AAX Malaysia and AAX Thailand) will be operating separately under AirAsia Aviation Group (AAG).
"We are just injecting AirAsia airlines into AAX’s listing status...there is no merger. AAX will be renamed as AAG, and there will be six airlines under it.
Adama...it's means AAX listed company under AAG umbrella??
AAG as a parent company , 5 below airline companies under it:
AirAsia Malaysia,
AirAsia Thailand,
AirAsia Philippines, and
AirAsia Indonesia, and
AirAsia X Bhd (which operates AAX Malaysia and AAX Thailand)
1.68. about fpe 1.68
with assumption AAX can make profit 414 M per year....so, the current price reasonable? too low? too high?
let's the market decide.