Malaysia has reversed its decision on building a new low-cost air terminal, after last month rejecting budget carrier, AirAsia's plan to build and operate a 1.6 billion ringgit (US$432 million) budget terminal amid concerns it may undermine the main Kuala Lumpur International (KLIA) airport. It subsequently said it has allocated 2 billion ringgit (US$540 million) to build a new low-cost terminal near the main airport as part of a massive economic stimulus package. To be built by 2011, the … [Read more...] about Malaysia reverses decision on new LC terminal
AirAsia
AirAsia posts first loss since going public
Noncash losses on fuel hedges and currency fluctuations dragged AirAsia to its first quarterly loss since going public in 2004, a MYR465.5 million ($128.2 million) third-quarter deficit that represented a reversal from the MYR180 million earned a year earlier. Principal charges comprised a MYR215 million loss related to the unwinding of the carrier's fuel hedges, a loss it said it will recover "in less than three months," and a MYR213 million translation loss resulting from the US dollar's rise … [Read more...] about AirAsia posts first loss since going public
Malaysia : AirAsia in top 5 Asia-Pac airline brands
AirAsia has emerged in the Top 5 among airlines in the Asia-Pacific region in a recent survey conducted by leading market insight company TNS. The ‘Top 10 Asia-Pacific Airlines’ category forms part of the Asia Pacific Top 1,000 Brands 2008 survey. The airline has recently updated its entire Malaysian fleet with the more modern and fuel efficient Airbus A320, making it the youngest, all brand new fleet in Asia. AirAsia Group CEO, Tony Fernandes said: “To be the only … [Read more...] about Malaysia : AirAsia in top 5 Asia-Pac airline brands