Exactly. Sometimes if one takes the stock out of the equation, they will then understand if the stock is worth bothering....

For me, I always ask the simple question...

How was Airasia able to pay big dividends not too long ago?

Well, they already decided they needed the sales and leaseback. Debts gearing was way too big already. Unsustainable. Esp when you have less than 1 billion cash and carry more than 12 billion bank borrowings. New planes are coming in regularly (that 19us billion plane order). Ticket sales are simply not growing fast enough. So sales and leaseback was needed.

They then created a wholly owned subsidiary to handle the leaseback, called AAC.

So AAC but the planes and leaseback to their parent company, Airasia.

So voila. Airasia became rich by selling own planes and leasing back own planes. How rich? Was it 1 billion?

And they then got some company to buy this leasing company. LMAO!!

So Airasia got millions and millions and millions to give back to shareholder.

They needed the money cause too much bank borrowings. Instead of trying to lower the debts and improve their balance sheet, they gave out millions and millions in dividends.

Wait. The curveball was the previous year(s), Airasia did a cash call but that cash call (private placement of shares) as offered to only Tony and his partner.

Thinking about it. It was genius. Share placement to its big boss. Subsequently big dividend was given out. I think it was genius. You say?
Yes, the brand Airasia is there. Cheap flights are good. Who doesn't love cheap flights? But since there exist so many other stocks why should I bother trading the stock that carries so much questionable issues?