Thursday, 10 January 2013

Euromoney: AirAsia Bhd takes top spot in Malaysia, Asian airlines

KUALA LUMPUR: AirAsia Bhd has taken the No. 1 spot as the best managed company overall in Malaysia and top spot among in Asia's Airlines/Aviation category, according to Euromoney.

The leading international magazine said on Thursday the low-cost carrier was the best managed company in Asia in the Airlines/Aviation sector for its "Best Managed and Governed Companies - Asia poll 2013".

"The poll is based on replies received from a total of 130 of the leading equity analysts at the largest investment banks and research houses in the Asia Pacific region nominating a total of 207 different companies," said Euromoney.

In the poll, analysts were asked to name which companies were the most impressive across a number of factors including; management accessibility, accounting transparency and corporate governance procedures amongst others.

The magazine said analysts praised AirAsia for its leading role in promoting transparent communication to investors, citing that "the company has a clear strategy and good visibility".

It also said analysts pointed out that AirAsia's senior management was open to all questions and requests from investors and analysts regarding the company's performance and external relations are properly maintained.

AirAsia group CEO Tan Sri Tony Fernandes said: "We are very proud of the acknowledgement that Euromoney has given us".

He said it was AirAsia management's conscious effort to ensure the company was committed in ensuring investors and stakeholders confidence were maintained through transparency and good governance.

"We have always believed we have a strong investment case and will continue to push the barriers by gaining further access to a wider investor base," Fernandes said.

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AirAsia eyes India, plans tie-up with Indian company

 

KUALA LUMPUR: AirAsia Bhd plans to tie up with an Indian partner to launch an Indian airline, according to India's Economic Times.

The newspaper said on Thursday the move to venture into India was to take a share in one of Asia's largest aviation markets despite concerns of a "hyper-competitive industry full of bureaucratic obstacles". Economic Times reported the low-cost carrier was exploring options to set up a company majority owned by an Indian promoter, preferably a well-known business group.

It said AirAsia will hold 49% in the venture which would apply for an aviation licence.

It added AirAsia has broached the issue with the Videocon Group and the talks are at a preliminary stage.

Venugopal Dhoot, the chairman of the Videocon Group, confirmed that they had been approached by the airline, said the newspaper.

"They had approached us. These were preliminary discussions. There's nothing I can say now," Dhoot was quoted saying. Economic Times said AirAsia's entry would further stir up the industry and probably force some players to consolidate.

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