MAS AirAsia Story - Tan Sri Azman Mokhtar and En Mohammed Rashdan Yusof be reminded that AirAsia X Sdn Bhd is a totally different legal entity to AirAsia Bhd, which is a public listed company and AirAsia X Sdn Bhd is a private limited company.

Khazanah: Who are the business partners of Tony in AsiaAsia X, a private limited company?

WEE CHOO KEONG

According to a top official of Khazanah, this so-called deal of 10% stake in AirAsia X is dodgy! I am not all surprised by this statement because from the last financial statement for the AirAsia X Sdn Bhd for its year ending 31-12-2009, which was filed with with Companies Commission on 30-06-2010, recorded an after tax loss of RM89,835,000-00.

I am just wandering whether Ministry of Transport was aware of the facts that AirAsia X Sdn Bhd is not the same as AirAsia Bhd when it granted the 32 international routes to it and recently another five new routes including Jeddah, which is very profitable. It seemed that Ministry of Transport was also helping and encouraging a private limited company, AirAsia X Sdn Bhd to compete with MAS where MAS has expanded million of tax payers money to nurture and promote the routes to London, Jeddah, Sydney and the like. AirAsia X Sdn Bhd just moved in with enormous help from the Ministry of Transport help and at the same time did not say Thank You to MAS.

Virgin Group buys AirAsia X stake

THE TELEGRAPH

10 August 2007

Sir Richard Branson's Virgin Group has bought a 20pc stake in AirAsia X, a long-haul budget airline, for about £7m.

Dato' Seri Kalimullah Hassan, chairman of AirAsia X, said: "The Virgin stamp of approval on the AirAsia X business model from Sir Richard Branson, one of the world's most successful entrepreneurs in pioneering new business models, is a great start for AirAsia X."