UPDATED @ 08:51:46 PM 16-03-2012
By Lee Wei Lian
Mar 16, 2012
Md Nor (third from right) shakes hands with Tan Sri Tony Fernandes during a signing ceremony for a MAS-AirAsia share swap, in Kuala Lumpur, Aug 9, 2011. File pic
Tan Sri Md Nor Yusof pronounced a lobbying to remove a share barter as well as partnership could bluster a airline's monetary recovery, referring to unions as well as alternative employee associations' appeal for a prime minister to examination a eight-month-old share barter with AirAsia which was to assistance helper MAS behind to profitability.
Union leaders had additionally warned of a political backlash for a Barisan Nasional (BN) government, saying they would take their fight to Parliament as well as run federal lawmakers to remove a collaboration. It is learnt which Prime Minister Datuk Seri Najib Razak had calmed them down sufficiently to avert industrial action.
"I am writing in such a forthright manner because you have noted which a commercial operation devise has not been supposed by all of a stakeholders as well as has in actuality met with turmoil in a little sectors," Md Nor pronounced in a statement issued this evening.
"This turmoil has a potential to distract a courtesy of Malaysia Airlines' government group as well as its 20,000 staff from a really consequential task during hand."
Md Nor pronounced which a share barter did not cause a rare RM2.5 billion annual loss posted final month though was instead partial of a liberation plan.
"I would like to be r! eally tr ansparent in stating which a share barter is not partial of a strident monetary problems during Malaysia Airlines; it is partial of a solution," pronounced a corporate arch who had a army as MAS managing executive after a supervision paid for it behind from tycoon Tan Sri Tajudin Ramli.
"Likewise, a partnership agreement in in between Malaysia Airlines as well as AirAsia is not partial of a strident monetary problems during Malaysia Airlines. It is partial of a solution."
The MAS authority pronounced a ailing conduit must be authorised to concentration upon pulling itself out of its stream monetary crisis, as well as asked a open as well as a company's stakeholders not to pre-judge a plans which have been drawn up.
"Do decider us upon a formula you deliver with a commercial operation plan, though please give a government group enough time to implement a commercial operation devise effectively," he said.
"Similarly, to pass judgment upon a comprehensive partnership horizon in general or a share barter in sold is beforehand during this juncture."
Md Nor warned which MAS was in a apocalyptic condition as well as pronounced which a ends of restoring a airline would justify a means.
"Malaysia Airlines is a really sick patient, as well as its condition is utterly critical," he said. "Indeed, there are a full operation of prescriptions available. Judge us by a result, not by a preference of prescription."
Md Nor combined which a house had full certainty in a government group despite a warning voiced by kinship leaders who had complained of an "invasion" of former AirAsia crew into key positions during MAS.
"On behalf of my colleagues upon a house of directors of Malaysia Airlines, you wish to place upon jot down a joining as well as await for a government group of Malaysia Airlines, led by group arch executive officer Ahmad Jauhari Yahya," he said.
Key initiatives outlined in a turnaround commercial opera! tion dev ise over a subsequent 6 months embody strengthening income management, a launch of a brand brand new regional short-haul premium airline as well as a introduction of a brand brand new flagship Airbus A380 upon selected routes.
The airline is additionally looking during various options to make firm its balance sheet, which suffered a slump in cash reserves as well as net assets in a final quarter.
MAS kinship leaders pronounced which a categorical issue was which they did not "trust" AirAsia as well as were wary over proposals to cut salaries as well as benefits as well as a little of a airline's routes.
The conduit attributed its jot down losses final month to a enlarge in fuel price, which rose from US$ 95 per tub in 2010 to US$ 133 per tub in 2011.
The bigger-than-expected losses were additionally due to one-off provisions like redelivery of aircraft, spoil of freighters as well as stock obsolescence.
The Malaysian Insiderreported currently which Putrajaya is considering a special entity to take MAS off its categorical shareholders, Khazanah Nasional Berhad as well as Tune Air Sdn Bhd, if a Najib administration caves to demands from a dwindle carrier's worker unions.
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Courtesy of Bonology.com Politically Incorrect Buzz & Buzz
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