【解析】【組合】AIRASIA:包租婆也有春天?


2 Oct 的Announcement, 公佈了成立AAC。

The objective of establishing AAC is to provide aircraft leasing services for the AirAsia Group. AAC will own and manage the portfolio of aircraft that is currently leased to AirAsia’s affiliate companies outside of Malaysia namely, Thai AirAsia Co. Ltd, PT Indonesia AirAsia, AirAsia Inc, Zest Airways Inc, AirAsia India Pvt. Ltd. and future affiliates (collectively known as “the Affiliates”). Aircraft owned and operated in Malaysia will however remain with the Company.The principal activities of AAC are:-- Acquiring aircraft and securing financing for these aircraft;
- Providing operating leases to the Affiliates;
- Managing the portfolio of aircraft including technical services; and
- Remarketing of aircraft leases and/or sale of aircraft.

之前在【解析】AIRASIA:#3 壯士斷臂就提過假設過AIRASIA通過收租來做個包租婆的可能性。不想這麼快就有了進展。
http://www.theedgemalaysia.com/business-news/310165-airasia-says-leasing-arm-worth-prospective-u1-billion-if-listed-.html
如以上新聞,往後若分拆上市, 估計市值是現今亞航一半。 八字還沒一撇,不論如何,長期來說是利好消息。 租憑收入對AIRASIA的現金流的幫助是巨大的, 飛機的租憑是AIRASIA的收入,是所有連號公司的成本。 也就是說, 對總公司ARIASIA來說, 連號、附屬公司盈虧與否, 租金收入都會平安流進總公司的口袋(聯號公司虧得現金流不足的情況下另當別論)。


每一季度近2億的租憑收入。一年8億, 330架未接受機隊, 租憑收入的增長還會繼續。
油價繼續下跌, 相信接下來兩個季度亞航可以交出及格的成績。

亞航動作頻繁, Tony&Kamarudin似乎計劃著些什麼事情。通過Tune Air 和Tune Group這幾個月大量拋售手上持股。

Tune Air 賣出AIRASIA
109396300股 x 2.350= 257 million

大股東賣出Tuneins
(19068+30000+27669+42500)x rm2.30 (estimate)= 274 million
257m+2.74m= 531m


Airasia 2013 Annual Report Substantial Shareholders
Tune Air 亞航持股從2013的23.03%, 大幅降低至現在的19.09% (531,212,082 )
Tunegroup 突然套現現金531m, 目的為何?

缺錢?
還是, 另有所圖?

繼續觀察跟進。。。

十次加碼累積亞航。 從高點2.65買到最低2.2, 再從最低到現在。。。希望明年會有更多好消息。

*純屬個人分析記錄,無買賣建議,盈虧自負, 阿彌陀佛。


對亞航有興趣可參考之前的一些分享:
【業績】AIRASIA: Q2 5倍盈利飆升下的真相
【解析】AIRASIA:#1 航空繚亂篇
【解析】AIRASIA:#2 亞航的不安因素
【解析】AIRASIA:#3 壯士斷臂

菩提薩埵 依般若波羅蜜多故 心無罣礙 無罣礙故 無有恐怖 遠離顛倒夢想 究竟涅盤
投資如修行,”心“很重要。 【股海无涯】投資事件簿, 
記錄股海漂泊中的 潮起潮落 是非成敗

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1 comments:

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Anonymous
12 October 2014 at 00:32 delete

now every one can fly!

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