ID :
201319
Mon, 08/15/2011 - 10:44
Auther :
Shortlink :
https://oananews.org//node/201319
The shortlink copeid
MAS, AIRASIA COLLABORATION TO BOOST AIR TRAVEL
By Newmond Tibin
KOTA KINABALU (Sabah, Malaysia), Aug 15 (Bernama) -- Malaysia Airlines and Airasia Bhd are expected to leverage on each other's strength to develop the local airline industry and further boost air travel in the country following their recent collaboration, says Deputy Transport Minister Abdul Rahim Bakri.
He described the collaboration as very strategic and the norm among big corporations to synergise in order to face stiff international competition especially from Middle East airlines.
"This collaboration is similar to those being undertaken in the global financial and banking industry with the onslaught of globalisation and liberalisation.
"What is important is that the welfare and interest of Malaysians,
especially those frequenting domestic air travel is not jeopardised," he told Bernama here Sunday.
However, Abdul Rahim said healthy competition, affordable fares and quality service would not be compromised, at any cost.
He was confident Khazanah Nasional would have looked into all these details before deciding on the collaboration framework.
Under the agreement between Malaysia's national carrier MAS, AirAsia Bhd and AirAsia X, Khazanah will hold 10 per cent of shares in AirAsia while Tune Air Sdn Bhd will hold 20.5 per cent shares in MAS. Tune Air Sdn Bhd operates as a holding company and operates no-frills carrier AirAsia. It owns 23 percent of Air Asia.
Khazanah, the investment holding arm of the Government of Malaysia, will continue to be the single largest and major shareholder of MAS.
In addition, Khazanah proposes to acquire 10 per cent shares in AirAsia X at a price to be mutually agreed later.
Abdul Rahim said the collaborative framework was purely a business decision.
KOTA KINABALU (Sabah, Malaysia), Aug 15 (Bernama) -- Malaysia Airlines and Airasia Bhd are expected to leverage on each other's strength to develop the local airline industry and further boost air travel in the country following their recent collaboration, says Deputy Transport Minister Abdul Rahim Bakri.
He described the collaboration as very strategic and the norm among big corporations to synergise in order to face stiff international competition especially from Middle East airlines.
"This collaboration is similar to those being undertaken in the global financial and banking industry with the onslaught of globalisation and liberalisation.
"What is important is that the welfare and interest of Malaysians,
especially those frequenting domestic air travel is not jeopardised," he told Bernama here Sunday.
However, Abdul Rahim said healthy competition, affordable fares and quality service would not be compromised, at any cost.
He was confident Khazanah Nasional would have looked into all these details before deciding on the collaboration framework.
Under the agreement between Malaysia's national carrier MAS, AirAsia Bhd and AirAsia X, Khazanah will hold 10 per cent of shares in AirAsia while Tune Air Sdn Bhd will hold 20.5 per cent shares in MAS. Tune Air Sdn Bhd operates as a holding company and operates no-frills carrier AirAsia. It owns 23 percent of Air Asia.
Khazanah, the investment holding arm of the Government of Malaysia, will continue to be the single largest and major shareholder of MAS.
In addition, Khazanah proposes to acquire 10 per cent shares in AirAsia X at a price to be mutually agreed later.
Abdul Rahim said the collaborative framework was purely a business decision.
