The Pakatan Rakyat Manifesto/ Policy Committee thinks which a share barter understanding between Malaysian Airline System (MAS) as well as AirAsia was a inapplicable designation as well as Najib as a authority of Khazanah should be responsible for this mess.
From a onset, a justification of this partnership is suspect. If a intention is for MAS to focus upon premier services whilst AirAsia upon no-frills services, no exchange of equity is needed.
Since a partnership took place, a lot of assertive route as well as capacity cuts have been undertaken, mostly involving MAS. Furthermore, it has killed Firefly's (MAS' low cost carrier) remunerative budget services which were giving AirAsia a run for a money.
Clearly, this is a form anti-competitive behaviour displayed by MAS-AirAsia. Having AirAsia's arch executive, Tony Fernandes, as well as his deputy Kamarudin Meranun upon a house of MAS only serves a interest of AirAsia during a responsibility of consumers.
Additionally, The Edge has additionally reported which a share barter understanding faced insurgency from a Malaysian Airlines System Employees Union (MASEU). It is accepted which MASEU's representative had met with Prime Minister Datuk Seri Najib Razak to air a union's unhappiness.
No bailouts as well as advisory fees paid contingency be clawed back
Unfortunately, all this reliable a predictions done by independent, not-for-profit research hospital REFSA (Research for Social Advancement) upon twelve Aug 2011, soon after a barter was announced. REFSA pronounced wh! ich this partnership would result in reduction visit flights, marked down job prospects for airline staff as well as fewer opportunities for all Malaysians due to reduction connectivity.
Speculations are now abounding upon a probability of a Prime Minister asking Khazanah to buy behind a interest exchanged with Tune Air.
In light of this development, you goal which Khazanah will not be bailing out Tune Air. Considering a fact which MAS reported RM2.52 billion net detriment for 2011, a largest detriment in history, Khazanah contingency buy behind a interest during a reduce cost to reflect MAS' terrible opening given a understanding was made.
At a same time, advisory fees paid to a GLC which advised upon a understanding - CIMB Bank - should be clawed behind given a understanding was patently flawed. In reduction than 6 months after a understanding MAS reported this massive loss.
Pakatan Rakyat Manifesto/ Policy Committee
Rafizi Ramli
Dr. Dzulkifli Ahmad
Liew Chin Tong
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Courtesy of Bonology.com Politically Incorrect Buzz & Buzz
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