Tag: corporate

Six Airbus A320s that were operated by MyAirline, will be leased by AirAsia as part of an effort to grow its operations. Bo Lingam, group CEO of AirAsia Aviation Group Ltd, stated that the lessor organisation, which owns the aircrafts that were leased to MyAirline, contacted AirAsia to inquire about the need for additional aircraft. “I said, yes, we would like to have the aircrafts. “Once MyAirlines returns the aircrafts to the lessor, they will lease them to us,” he said at a press conference on Monday, adding that the number of aircrafts will be confirmed next week. To assist MyAirline passengers impacted by flight suspensions, AirAsia has offered 50% discounted fares. “I think so far there are 10,635 MyAirline passengers who have taken up the 50% discount to fly with...

Batik Air and AirAsia are providing support to any passengers impacted by the cancellation or rescheduling of their flights following the cash-strapped low-cost carrier MYAirline's suspension of operations as of Thursday. There are many one-way tickets available from Batik Air, all of which are subject to seat availability and include all fees. Penang costs RM129, Langkawi RM159, Kuching RM199, Don Mueang (Bangkok), and Kota Kinabalu RM299, among others. In the meantime, AirAsia is providing affected passengers with confirmed flight reservations to and from a few specific locations (Kuala Lumpur, Langkawi, Penang, Tawau, Kota Bharu, Kuching, Kota Kinabalu, Kota Kinabalu-Tawau, Don Mueang-Bangkok, and Suvarnabhumi-Bangkok) a 50% discount on base tickets. “To redeem this off...

APB Resources Bhd (APB) intends to invest RM38 million for a leasehold property and a 16-story office building, Menara Serba Dinamik, in Shah Alam, Selangor. The planned acquisition is part of APB's plan to use the land for its objectives while generating rental income, and it is subject to the High Court's approval. Serba Dinamik Group Bhd (SDGB), which is presently going through liquidation, is the current owner of Menara Serba Dinamik. Following a letter from the liquidator of SDGB informing APB of the sealed copy of the summons papers for the liquidation's request for instructions about the sale of the property, the transaction was started. After discussions between the parties and evaluation of the property's net book value and market value, as calculated by PPC Inter...

MYAirline, a low-cost airline, is anticipated to have a new owner soon. According to a source familiar with the situation, the new owner, a local businessman, plans to invest additional money in the airline, which launched last December. “We had a town hall with the incoming owner, and now they are fine-tuning the details,” the source who spoke on condition of anonymity told FMT Business. It was revealed in October of last year that local billionaire Goh Hwan Hua owns 88 percent and 10 percent, respectively, of the private companies Zillion Wealth and Trillion Cove Holdings, which have holdings in the airline. Rayner Teo, who resigned as CEO earlier due to health issues, owns the remaining two percent of the company. Teo and the airline's senior management formerly work...