Air Asia X : IPO, Air Asia X
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 Nov 1 2012, 08:45 AM
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#1
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Senior Member
1,139 posts Joined: Nov 2008  
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QUOTE(zitis @ Nov 1 2012, 04:19 AM) Is this another trap by Ananda? The man behind the shadow for AAX.. Is Ananda is behind AirAsia X? I thought Tony Fernandes.No prospectus but the application is out via MITI ???.... Friends, this time better study the prospectus first before apply... Dont let urself drown for second time...   |
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Nov 1 2012, 09:40 AM
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#2
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1,139 posts Joined: Nov 2008
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QUOTE(zitis @ Nov 1 2012, 08:58 AM) Tony is the face.... While ananda is the shadow.. He is one of AAX investors.. I see, then better to wait for the prospectus & more details . |
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Nov 1 2012, 10:40 PM
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#3
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1,139 posts Joined: Nov 2008
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QUOTE(Oracles99 @ Nov 1 2012, 10:29 PM) AsiaX reported 1H2012 result a pretax loss. For 2011 also loss.. |
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Nov 1 2012, 10:46 PM
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#4
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I can see that their biggest expenditure is Aircraft fuel. I think as long as fuel price still high, their account may be still in red.
This post has been edited by GHz: Nov 1 2012, 10:46 PM |
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Nov 1 2012, 10:52 PM
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#5
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QUOTE(yfchin2 @ Nov 1 2012, 10:47 PM) fuel price is not really that high atm??? correct me if im wrong I think it is higher when compare to 2 years ago when AirasiaX making profit. Just imagine what happen if fuel price rise much further. |
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Nov 2 2012, 12:09 PM
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#6
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QUOTE(gark @ Nov 2 2012, 10:57 AM) AAX Summary... for the benefit of forumers I think fuel surcharge does not enough to cover for fuel cost increase. Fixed Asset = 2.16 billion (including 700 mil in tax asset and deposits) Current Asset = 224 mil (only 24 mil cash) Current liability = 953 mil (including 464 mil short term borrowing) Non-Current liability = 917 mil long term borrowing NTA = RM 0.35/share Debt/Equity Ratio = 3.61  2009 EPS = RM 0.66/share 2010 EPS = RM 0.63/share 2011 EPS = RM -0.36/share 2012 EPS (Proforma) = RM -0.22/share 2009 and 2010 gain is mostly in deferred taxation.. and not based on performance Operational Profit/loss 2009 = LOSS RM 31 mil 2010 = PROFIT RM 7 mil 2011 = LOSS 60 mil 2012 (proforma) = Loss 10 mil Now looking at how much future profit AAX can make Gross Margin 2009 = 3.4% 2010 = 12.7% 2011 = 9% 2012 = 15.4% Please note that revenue growth has been more or less stagnant in 2011 to 2012. 2009 = 8 planes 2010= 11 planes 2011 = 11 planes 2012 = 9 planes (  ) , 2 plane classified as asset for sale  Future = 2 more plane on order Revenue per ASK is stagnant 2009-2012, cost per ASK also stagnant 2009-2012, basically cost of fuel is countered by fuel surcharge... Now lets see what the pricing/share will be  If look at how much they collect fuel surcharge in 2011, it is only 44 million. On the other hand fuel cost increase by 421million from 2010 to 2011. From 597million to 1,018 million. Yes they maybe fly more as we can see the increase in revenue but revenue increase only 42% compare to fuel cost increase by 70% in the same period |
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Nov 2 2012, 02:54 PM
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#7
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QUOTE(gark @ Nov 2 2012, 12:17 PM) Yes you are right.. but we have to see the overall picture.. thats is why we commonly see the ASK cost. If like that, why they are in red in 2011 & 2012 ?ASK = Available Seat Kilometer, means total cost or revenue divided by number of seats and km traveled. If you see this the cost increase in fuel has been countered by lowering the non-fuel ASK cost, it means they are using other method to counter rising fuel cost such as shorter haul flights and/or higher frequency flights. In maintaining ASK even though fuel cost is up, AAX is doing a great job... |
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Nov 2 2012, 03:12 PM
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#8
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QUOTE(gark @ Nov 2 2012, 03:00 PM) cause ... price < cost LOL  All those cheap flight offer they advertise all rugi one...  . That's very bad management. Advertise cheap flight until company losing money for years. |
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