Post by luckycharms on Jun 18, 2013 15:30:21 GMT
If this has already been reported apologies and please merge with the appropriate thread.
This is tangentially related to QPR (one hopes!) because I know quite a few QPR fans believing that some signings e.g that of Park and the Board's general marketing emphasis especially on Korea and the Far East has contributed somewhat to the disastrous performance of your team in the Premier. So this news might be of interest:
FYI The Korean flights would have taken off from Narita Airport under Air Asia Japan. Perhaps the cancellation of the Korea tour that would have occurred this summer was more to do with this as much as it did with being relegated? Who knows.
I bet the cynics would welcome this as 'less Korean players for marketing purposes' but with Air Asia India starting, they might be replaced with a few from the Subcontinent
This is tangentially related to QPR (one hopes!) because I know quite a few QPR fans believing that some signings e.g that of Park and the Board's general marketing emphasis especially on Korea and the Far East has contributed somewhat to the disastrous performance of your team in the Premier. So this news might be of interest:
AirAsia's Japan JV potential pull-out over differences in opinion
Posted on 12 June 2013 - 05:38am
sunbiz@thesundaily.com
Print
PETALING JAYA (June 12, 2013): Budget airline AirAsia Bhd said its likely decision to pull out of a partnership with Japan's All Nippon Airways Co (ANA) in AirAsia Japan barely a year after commencing operations was due to differences of opinion in managing the Japanese low-cost carrier.
"AirAsia Japan (49% owned by AirAsia and 51% by ANA) have been facing some challenges attributed to a difference of opinion in management, most critically on the points of how to operate a low-cost business and operating from Narita (International Airport in Tokyo, Japan)," said AirAsia in a filing with Bursa Malaysia yesterday.
It added that since AirAsia Japan was launch in August last year, it has failed to track its proposed business plan due to the inability to manage costs although it has seen customer adoption increasing as the AirAsia brand starts to resonate in the market.
AirAsia also highlighted the fact that the AirAsia Japan management team predominantly comprised ANA staff, starting with but not limited to the CEO and CFO.
AirAsia said it continues to be optimistic and committed to Japan and sees the potential for a low-cost airline to thrive in the market and would not rule out any options to make this happen, including dissolution of the joint venture.
"The parties are exploring all available options and any decision will be further subject to respective corporate approvals of ANA and AirAsia," it added.
AirAsia was responding to reports of the Malaysian carrier withdrawing from AirAsia Japan, after its group CEO Tan Sri Tony Fernandes met with senior officials of ANA Holdings, which owns ANA, recently. It was reported that the Japanese airline plans to buy the 49% stake held by AirAsia and turn the joint venture airline into a 100% subsidiary.
AirAsia was also reportedly looking to establish a new budget airline in Japan in partnership with another Japanese company.
Alliance Research aviation analyst Angeline Chin views AirAsia's potential exit from the Japan market positively, given the uncertainty of AirAsia Japan's operation which may not turnaround in the near future.
"The potential exit from the Japanese aviation market will have a neutral impact on AirAsia's earnings as equity accounting has ceased since accumulated losses have exceeded its capital in prior year," said Chin in a note to clients yesterday.
"Nevertheless, the redeployment of existing aircraft to other more "productive" markets/routes may be earnings positive (for AirAsia) in the future," she added.
AirAsia Japan currently operates four A320s and runs at a passenger load factor of about 70%.
Shares of AirAsia closed unchanged at RM3.35 yesterday, with 10.02 million shares done.
Related articles
www.thesundaily.my/news/739631
Posted on 12 June 2013 - 05:38am
sunbiz@thesundaily.com
PETALING JAYA (June 12, 2013): Budget airline AirAsia Bhd said its likely decision to pull out of a partnership with Japan's All Nippon Airways Co (ANA) in AirAsia Japan barely a year after commencing operations was due to differences of opinion in managing the Japanese low-cost carrier.
"AirAsia Japan (49% owned by AirAsia and 51% by ANA) have been facing some challenges attributed to a difference of opinion in management, most critically on the points of how to operate a low-cost business and operating from Narita (International Airport in Tokyo, Japan)," said AirAsia in a filing with Bursa Malaysia yesterday.
It added that since AirAsia Japan was launch in August last year, it has failed to track its proposed business plan due to the inability to manage costs although it has seen customer adoption increasing as the AirAsia brand starts to resonate in the market.
AirAsia also highlighted the fact that the AirAsia Japan management team predominantly comprised ANA staff, starting with but not limited to the CEO and CFO.
AirAsia said it continues to be optimistic and committed to Japan and sees the potential for a low-cost airline to thrive in the market and would not rule out any options to make this happen, including dissolution of the joint venture.
"The parties are exploring all available options and any decision will be further subject to respective corporate approvals of ANA and AirAsia," it added.
AirAsia was responding to reports of the Malaysian carrier withdrawing from AirAsia Japan, after its group CEO Tan Sri Tony Fernandes met with senior officials of ANA Holdings, which owns ANA, recently. It was reported that the Japanese airline plans to buy the 49% stake held by AirAsia and turn the joint venture airline into a 100% subsidiary.
AirAsia was also reportedly looking to establish a new budget airline in Japan in partnership with another Japanese company.
Alliance Research aviation analyst Angeline Chin views AirAsia's potential exit from the Japan market positively, given the uncertainty of AirAsia Japan's operation which may not turnaround in the near future.
"The potential exit from the Japanese aviation market will have a neutral impact on AirAsia's earnings as equity accounting has ceased since accumulated losses have exceeded its capital in prior year," said Chin in a note to clients yesterday.
"Nevertheless, the redeployment of existing aircraft to other more "productive" markets/routes may be earnings positive (for AirAsia) in the future," she added.
AirAsia Japan currently operates four A320s and runs at a passenger load factor of about 70%.
Shares of AirAsia closed unchanged at RM3.35 yesterday, with 10.02 million shares done.
Related articles
www.thesundaily.my/news/739631
FYI The Korean flights would have taken off from Narita Airport under Air Asia Japan. Perhaps the cancellation of the Korea tour that would have occurred this summer was more to do with this as much as it did with being relegated? Who knows.
I bet the cynics would welcome this as 'less Korean players for marketing purposes' but with Air Asia India starting, they might be replaced with a few from the Subcontinent
