My airline is grounded, and is Airaisa the biggest beneficiary?
On 12/10 (yesterday), Myairline announced that it would take off and be grounded without warning until further notice. As a result, a large number of passengers flew in vain, and as many as 21 flights were affected. The management issued a statement of deep apologies for this.
This Malaysian low-cost airline was founded in 2022 and officially launched in November of the same year. It initially provided major domestic routes, expanded routes to Thailand on June 28, 2023, and officially went international. Up to the latest record, it has a total of 600 employees, including 100 pilots on duty
Just three days before the flight was grounded, CEO Zhang Qingfu announced his resignation due to health issues. As early as in an interview in early April this year, he stated that the group intended to go public within the next few years and launch several international routes one after another, including Singapore, Thailand, and Indonesia. However, it was reported soon after that the group was in a financial crisis and was unable to pay salaries for several months. Coupled with the departure of the leaders, it was not surprising
In addition to the Malaysian Aviation Commission, many rivals Airasia, Malaysia Airlines, and Buddy Air have lent a helping hand, reducing the prices of many domestic routes and providing assistance to affected passengers. As MyAirline announced the suspension of services, AirAsia X and CAPITAL A's stock prices rose in response. Once regarded by the market as the biggest threat to AirAsia, they are now the main beneficiaries. It is expected that most passengers will switch to their flights one after another, leaving no one to admire the persistence and perseverance of AirAsia Chairman Tony and his management
Follow me to take back control of the Malaysian stock market
This Malaysian low-cost airline was founded in 2022 and officially launched in November of the same year. It initially provided major domestic routes, expanded routes to Thailand on June 28, 2023, and officially went international. Up to the latest record, it has a total of 600 employees, including 100 pilots on duty
Just three days before the flight was grounded, CEO Zhang Qingfu announced his resignation due to health issues. As early as in an interview in early April this year, he stated that the group intended to go public within the next few years and launch several international routes one after another, including Singapore, Thailand, and Indonesia. However, it was reported soon after that the group was in a financial crisis and was unable to pay salaries for several months. Coupled with the departure of the leaders, it was not surprising
In addition to the Malaysian Aviation Commission, many rivals Airasia, Malaysia Airlines, and Buddy Air have lent a helping hand, reducing the prices of many domestic routes and providing assistance to affected passengers. As MyAirline announced the suspension of services, AirAsia X and CAPITAL A's stock prices rose in response. Once regarded by the market as the biggest threat to AirAsia, they are now the main beneficiaries. It is expected that most passengers will switch to their flights one after another, leaving no one to admire the persistence and perseverance of AirAsia Chairman Tony and his management
Follow me to take back control of the Malaysian stock market
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