How a CEO of any company might find himself with nothing to do even at these times is beyond this writer.T
he case of Tony Fernandes reminds this writer ofTajuddin Ramli, former of MAS.The parallels are frightening,
and hence the nameTony "Tajuddin" Fernandes.
Apart from the Airbus admission (see below), Rolls Royce who supply AA and AAX jet engines and related services may also be prevented from dealing with AA and AAX given Rolls Royce's admissions to the SFO. Readers may recall that when the Rolls Royce/SFO story broke AA
responded with a press statement that implicated the entire AA and AAX board:
AirAsia Group head of communications Audrey Progastama Petriny, in a statement to Malaysiakini, said AirAsia and AirAsia X board of directors and management were kept informed at all times of the transactions relating to the jet.
TO BE READ WITH
Tuesday, April 21, 2020
Airbus will not, cannot deal with AirAsia, AirAsiaX-AA, AAX fleet is entirely Airbus, so how much are AA and AAX worth?
by Ganesh Sahathevan
AIRASIA SUPERSIZES ITS FLEET TO LOWER FARES
This was the case just under a year ago
Reuters reported:
Airbus (AIR.PA) has put six jets made for one of its largest customers up for sale after giving up on Malaysia’s AirAsia (AIRA.KL) taking delivery of them, sources familiar with the matter told Reuters.
Airbus's sale comes after its admission before UK's Criminal Court that it bribed AA officials,which Tony Fernandes and Mehranun admitted was a reference to them. That admission effectively prevents Airbus from future dealings with AA and AAX:
This was the case just under a year ago
Reuters reported:
Airbus (AIR.PA) has put six jets made for one of its largest customers up for sale after giving up on Malaysia’s AirAsia (AIRA.KL) taking delivery of them, sources familiar with the matter told Reuters.
Airbus's sale comes after its admission before UK's Criminal Court that it bribed AA officials,which Tony Fernandes and Mehranun admitted was a reference to them. That admission effectively prevents Airbus from future dealings with AA and AAX:
Airbus admission prevents further business with Airasia: BDO Governance Advisory findings meaningless. given Airbus admission before the UK Crown Court,and cannot be a substitute for MACC, police, SC investigation
AA and AAX's fleet is entirely Airbus. AA and AAX's growth is impeded, and operational issues, such as maintenance and parts, are likely.
Add to that AA and AAX's financial problems, and what really are these companies worth? Are they worth anything at all?
END
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