Apr 13 2020, 01:14 PM
QUOTE(yhtan @ Apr 13 2020, 12:37 PM)
That hedging on currency i tak tau lah 
But fuel hedging remain as the same issue at year 2008, i remember Tony hedge it when oil price at peak at year 2007 $100, 2008 financial crisis oil price drop gao gao, MAS also did hedging but they cut loss in one shot, Airasia opted not to cut loss in one shot and honour the contract when it is due. That time AA still able to sell future ticket and having cash flowing in. This time, not much of cash flowing in for sure.
Based on the CIMB research by Raymond Yap, he wrote a well piece of advices there, he was criticise Tony for going asset light model business. When asking for government loan, why not he chip in private placement since both of them already got RM5bil dividend from the sales and leaseback.
The government also headache who to save, for sure they will prioritize MAS.
LOL. I guess I am not the only one bashing AA then. But fuel hedging remain as the same issue at year 2008, i remember Tony hedge it when oil price at peak at year 2007 $100, 2008 financial crisis oil price drop gao gao, MAS also did hedging but they cut loss in one shot, Airasia opted not to cut loss in one shot and honour the contract when it is due. That time AA still able to sell future ticket and having cash flowing in. This time, not much of cash flowing in for sure.
Based on the CIMB research by Raymond Yap, he wrote a well piece of advices there, he was criticise Tony for going asset light model business. When asking for government loan, why not he chip in private placement since both of them already got RM5bil dividend from the sales and leaseback.
The government also headache who to save, for sure they will prioritize MAS.
When you go asset like, I feel that the most important asset left is the cash. That's the last line of defence. But no, AA shot itself in the groin when it decided to give away 5 billion as special dividend. Now it wants help? What's the Cantonese phrase 'Deserve to die'?
Rights issue is one way out. But when you look at the shareholder structure.. Tony and his sidekick, owns more than 60% of AA directly/indirectly. So are these 2 jokers (who benefited the most from the 5 billion special dividend) willing to fork out the money to safe their company? Or do they still believe that Other People Money will save their ass?
They could do a placement of shares to raise money but who would want to buy in an asset light company? And more so in a period such as now when air travel is almost dead for dunno how long....
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