分类： News

KUALA LUMPUR: Malaysian budget airline AirAsia X Bhd said on Wednesday it has filed an official complaint with the country’s Securities Commission against Hong Kong-based firm GMT Research over a June 10 report that questioned accounting practices at AirAsia X’s parent, AirAsia Bhd.

AirAsia, the long-haul arm of Asia’s biggest low-cost carrier, said in a statement that the GMT Research report said profits were shifted between the carriers by way of transfer pricing of service fees and costs charged by AirAsia. “AirAsia X asserts that the reports and presentation by GMT Research and its representatives concerning AirAsia X are untrue, misleading and inaccurate,” it said.

Shares of the two airlines have tumbled since GMT Research’s report said AirAsia uses transactions with loss-making associate carriers to boost its earnings.

Asked to comment on the AirAsia X filing, GMT Research partner Gillem Tulloch told Reuters by telephone, “We only do research, we don’t force people to sell (shares). Investors make their own decisions.” -Reuters

The Indonesian affiliate of AirAsia, the low-cost carrier, has four weeks to raise new equity or risk withdrawal of its operating licence in a key market.

The transport ministry of Southeast Asia’s biggest economy has set a July 31 deadline for AirAsia Indonesia and 12 local airlines to exit “negative equity” — in which their loans are greater than the value of their assets — or lose their flying permits.

继续阅读Jakarta warns AirAsia affiliate over negative equity

TORONTO – An Ontario judge has sided with the ride-hailing service Uber in its legal dispute with the City of Toronto.

The city sought a permanent injunction on the company’s operations, arguing Uber is a taxi company and must abide by the city’s regulations.

But Judge Sean Dunphy dismissed the application, saying there is “no evidence” the company is operating as a taxi broker.
继续阅读Ontario court sides with Uber in legal battle with City of Toronto

Cebu Pacific Air (5J, Manila) President and Chief Executive Officer (CEO), Lance Gokongwei, has outlined the airline’s longterm plans which will see all jet operations eventually being consolidated under Cebu Pacific while all turboprop operations will be placed under its Cebgo (DG, Manila) subsidiary.

Speaking at Cebu’s annual stockholders meeting in Manila this week, Gokongwei said that between now and 2022, the Filipino carrier would retire a total of twenty-one aircraft including six A319-100s (to be sold to Allegiant Air (G4, Las Vegas McCarran) this year), seven A320-200s whose leases will expire from 2016 to 2019, and eight ATR72-500s to be retired between 2017/18.

The CEO said Cebu’s recent order for sixteen ATR72-600s (with options for an additional ten of the type) would allow the carrier to establish new bases around the country thus alleviating pressure on its Manila hub.

“Our main opportunity is that only 29 or 30 of the 90 airports in the Philippines are jet capable. There are a lot of islands and communities that cannot be reached by jet,” Gokongwei said. “And second, there’s a limitation of slots in Manila. I think the big market is really connecting these communities or secondary cities directly with the turboprop aircraft which is a prudent aircraft.”

Among the cities mentioned as possible candidates for bases include Cebu, Davao, Iloilo, and Caticlan.

To cope with its growth plans, Gokongkwei said Cebu has increased its capital expenditure to USD280 million this year to fund the airline’s fleet acquisition.

MANILA – Several departing passengers at Ninoy Aquino International Airport (NAIA) Terminal 3 missed their flights Thursday apparently due to long queue at the departure immigration counter.

As early as 6:30 a.m., passengers were already complaining of the long and slow movement of queue at the immigration counter.

Foreign and local passengers said they waited more than an hour before they reached the immigration counter. As a result, some of them missed their flights.
继续阅读Passengers miss flights due to long immigration queue