Highlight No management shake-out, AAX to turnaround by FY15, said Tony
Page 1 of 1
Highlight No management shake-out, AAX to turnaround by FY15, said Tony
Highlight
No management shake-out, AAX to turnaround by FY15, said Tony
KUALA LUMPUR (Nov 20): AirAsia Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) group CEO Tan Sri Tony Fernandes today affirmed there will not be a management shake-out in AirAsia X Bhd (AAX) ([You must be registered and logged in to see this image.] Financial Dashboard), as he expressed confidence a proposed revamp plan would turnaround AAX in the coming financial year ending Dec 31, 2015 (FY2015).
"We are still confident with the business model, and will support the current (AAX) management. They are unlucky in terms of timing where 2014 is challenging to the whole industry, not only them (AAX)," he said in a press conference today.
He outlined five main points about the yet-to-be finalised revamp plan:
"The plan will be finalised by tomorrow, internally, and we will implement it right away," he said at the launch of new Asean products by AirAsia.
AAX share price fell three sen or 4.65% to 62 sen today with 44.4 million shares done, giving it a market capitalisation of RM1.46 billion.
AirAsia fell four sen or 1.63% to RM2.42, with 3.12 million shares traded, valuing it at RM6.7 billion.
No management shake-out, AAX to turnaround by FY15, said Tony
KUALA LUMPUR (Nov 20): AirAsia Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) group CEO Tan Sri Tony Fernandes today affirmed there will not be a management shake-out in AirAsia X Bhd (AAX) ([You must be registered and logged in to see this image.] Financial Dashboard), as he expressed confidence a proposed revamp plan would turnaround AAX in the coming financial year ending Dec 31, 2015 (FY2015).
"We are still confident with the business model, and will support the current (AAX) management. They are unlucky in terms of timing where 2014 is challenging to the whole industry, not only them (AAX)," he said in a press conference today.
He outlined five main points about the yet-to-be finalised revamp plan:
- increasing revenue in the context of recovering demand in the industry
- increasing ancillary income
- slowing down capacity growth
- merging AirAsia and AAX departments to improve efficiency and lower cost and
- rationalising AAX's Australia route which has weak demand.
"The plan will be finalised by tomorrow, internally, and we will implement it right away," he said at the launch of new Asean products by AirAsia.
AAX share price fell three sen or 4.65% to 62 sen today with 44.4 million shares done, giving it a market capitalisation of RM1.46 billion.
AirAsia fell four sen or 1.63% to RM2.42, with 3.12 million shares traded, valuing it at RM6.7 billion.
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics
» Management shake-up at Maxis
» AAX’s turnaround on management’s shoulders
» VSolar eyes turnaround in FY15 on solar plant kick-off
» Highlight No slowing down for IFCA in FY15
» Highlight R&A Telecommunication to turnaround in two years
» AAX’s turnaround on management’s shoulders
» VSolar eyes turnaround in FY15 on solar plant kick-off
» Highlight No slowing down for IFCA in FY15
» Highlight R&A Telecommunication to turnaround in two years
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
|
|