Mar 27 2020, 08:46 PM
QUOTE(Boon3 @ Mar 26 2020, 05:53 PM)
Just sharing some rant..
This goes to show that these rumours do not read the facts supplied by AA in their qr reports. It's really not difficult to read.
Previously, at one point, it had less than a billion cash but over 12 billion in debts. It was so bad that it is FORCED to resort to sale and leaseback to reduce debts.
Total debts as per last qr showed only 400 million plus.
They sold planes to the leading company. Problem is how big is their lease? It is now over 12 billion and counting....
Frankly, I be mighty pissed if AA is bailed out with any of our tax money. Why? My reasons...
1. company was reckless. They bought planes without a blink of an eye. The infamous plane purchase, which subsequently, got the bosses into trouble was an 18 billion USD purchase. A massive and mind boggling order of planes when Airasia still had 150+ planes yet to be delivered. And yeah the following year after that purchase cane that 50 million usd sponsorship to sports team owned by Ah Tony.
2. company is reckless with their hedging. 10 years ago they got burnt bad in their hedging and lost millions. And yet their hedging amount is crazy. They bet on oil contracts, they bet on interest rate and they bet on currencies. Can someone make a table out and show how much they made and how many millions they had lost in their hedging? Compare it with the actual running of their plane operation. Are they a hedging company or are they an airplane company?
3. The owners. So much issues I can bring out. The said sponsor money. Oh and issues like arrogantly and blatantly ignoring rules such as no credit card surcharges imposed on travellers who charge with their credit cards. Bank Negara said no surcharges and yet Airasia dared to arrogantly charge those charges. I could go on... The unbelievable special private placement of shares to JUST Ah Tony and gang who subsequently got a huge payday when Airasia paid out 2 trenches of special dividends.
Hell. I would be really pissed if they get a bailout!!
This goes to show that these rumours do not read the facts supplied by AA in their qr reports. It's really not difficult to read.
Previously, at one point, it had less than a billion cash but over 12 billion in debts. It was so bad that it is FORCED to resort to sale and leaseback to reduce debts.
Total debts as per last qr showed only 400 million plus.
They sold planes to the leading company. Problem is how big is their lease? It is now over 12 billion and counting....
Frankly, I be mighty pissed if AA is bailed out with any of our tax money. Why? My reasons...
1. company was reckless. They bought planes without a blink of an eye. The infamous plane purchase, which subsequently, got the bosses into trouble was an 18 billion USD purchase. A massive and mind boggling order of planes when Airasia still had 150+ planes yet to be delivered. And yeah the following year after that purchase cane that 50 million usd sponsorship to sports team owned by Ah Tony.
2. company is reckless with their hedging. 10 years ago they got burnt bad in their hedging and lost millions. And yet their hedging amount is crazy. They bet on oil contracts, they bet on interest rate and they bet on currencies. Can someone make a table out and show how much they made and how many millions they had lost in their hedging? Compare it with the actual running of their plane operation. Are they a hedging company or are they an airplane company?
3. The owners. So much issues I can bring out. The said sponsor money. Oh and issues like arrogantly and blatantly ignoring rules such as no credit card surcharges imposed on travellers who charge with their credit cards. Bank Negara said no surcharges and yet Airasia dared to arrogantly charge those charges. I could go on... The unbelievable special private placement of shares to JUST Ah Tony and gang who subsequently got a huge payday when Airasia paid out 2 trenches of special dividends.
Hell. I would be really pissed if they get a bailout!!
QUOTE(AVFAN @ Mar 26 2020, 06:02 PM)
1. ALL of "them" are reckless.... becos recklessness makes them richer than rich.
2. this round, not so easy... will be hard to find funds... heck, even petronas may need a bailout if crude stays at $25 for a year or longer!
we see other countries announcing tens of billions to help biz and we read meagre "millions"... and... "withdraw yr own epf"!
some shitshow coming.
anyway, back to AA... will be helluva show to keep this one flying.
it may end up as "now, everyone can own (part of) a plane".
I near to my choice want to buy because of share price drop 50 sen . Thinking twice i better invest on others , NOT AA2. this round, not so easy... will be hard to find funds... heck, even petronas may need a bailout if crude stays at $25 for a year or longer!
we see other countries announcing tens of billions to help biz and we read meagre "millions"... and... "withdraw yr own epf"!
some shitshow coming.
anyway, back to AA... will be helluva show to keep this one flying.
it may end up as "now, everyone can own (part of) a plane".
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