by Ganesh Sahathevan
Flightgobal has reported that Macquarie Group's Macquarie AirFinance is among Tony Fernandes' Air Asia X creditors.
As reported previously on this blog, Airbus has admitted facts before the UK Crown Court, which effectively prevent the company from dealing Air Asia X for so long as Tony Fernnandes and Kamaruddin Mehranun remain in charge of the company:
For so long as Tony Fernnandes and Kamaruddin Mehranun remain in charge of the company other companies dealing with AAX, including Macquarie Group's Macquarie AirFinance would be seen to be dealing with a company and persons against whom there are findings which relate to corruption, AML and CTF rules in the UK, and in Australia, which has similar rules to the UK.
This not to say that Macquarie is required to write-ff the debt; it simply means that a solution will have to be found so as to not offend Australian and other know your customer rules.
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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