KUALA LUMPUR: AirAsia X Bhd chairman Tan Sri Rafidah Aziz and former Malaysian Airline System Bhd (MAS) chairman Tan Sri Munir Majid gave a reassurance that the MAS-AirAsia tie-up would not result in monopolistic behaviour between the two carriers following their share swap.
Rafidah told the press conference of the Malaysia-Europe Forum, of which she is patron, that the share swap agreement between the shareholders of the national carrier and the low-cost carrier would not result in behaviour that would violate anti-trust laws.
“The collaboration has to be within limits of anti-trust laws that prevail around the world. We [Malaysia] will have our own competition law soon.
“We cannot breach the antitrust laws in countries we [MAS and AirAsia] fly to. Nobody should have any undue worries, because of the limitations that are there [overseas],” said Rafidah.
The Malaysian Competition Commission is currently reviewing the possible impact of the MAS-AirAsia collaboration on the local market. It will advise both airlines and will provide MAS and AirAsia with guidelines to follow.
Munir said: “Antitrust laws don’t only make companies liable. Directors themselves are liable. We [MAS and AirAsia] are guided by lawyers specialising in anti-trust laws.”
On the issue of Khazanah Nasional Bhd buying a stake in Air-Asia X, Rafidah said: “With AirAsia X, Khazanah is intending to buy some percentage of shares. Valuation and due diligence are being done, so I won’t comment further. This process is a private deal.”
“It’s up to Khazanah if they want to buy. The board will decide if the price is good,” she said.
She was critical of the lack of discourse between the management of MAS and its employees.
“The management of MAS must have dialogue with all levels of employees,” said Rafidah, urging MAS management to diffuse the growing tension with the workers’ unions.
Over 15,000 MAS staff had threatened a picket when the MAS-AirAsia swap was unveiled in early September.
Not too far from home, Qantas flights were grounded last week as conflict between the Australian carrier’s unions and management escalated.
This article appeared in The Edge Financial Daily, November 3, 2011.
Rafidah told the press conference of the Malaysia-Europe Forum, of which she is patron, that the share swap agreement between the shareholders of the national carrier and the low-cost carrier would not result in behaviour that would violate anti-trust laws.
“The collaboration has to be within limits of anti-trust laws that prevail around the world. We [Malaysia] will have our own competition law soon.
“We cannot breach the antitrust laws in countries we [MAS and AirAsia] fly to. Nobody should have any undue worries, because of the limitations that are there [overseas],” said Rafidah.
The Malaysian Competition Commission is currently reviewing the possible impact of the MAS-AirAsia collaboration on the local market. It will advise both airlines and will provide MAS and AirAsia with guidelines to follow.
Munir said: “Antitrust laws don’t only make companies liable. Directors themselves are liable. We [MAS and AirAsia] are guided by lawyers specialising in anti-trust laws.”
On the issue of Khazanah Nasional Bhd buying a stake in Air-Asia X, Rafidah said: “With AirAsia X, Khazanah is intending to buy some percentage of shares. Valuation and due diligence are being done, so I won’t comment further. This process is a private deal.”
“It’s up to Khazanah if they want to buy. The board will decide if the price is good,” she said.
She was critical of the lack of discourse between the management of MAS and its employees.
“The management of MAS must have dialogue with all levels of employees,” said Rafidah, urging MAS management to diffuse the growing tension with the workers’ unions.
Over 15,000 MAS staff had threatened a picket when the MAS-AirAsia swap was unveiled in early September.
Not too far from home, Qantas flights were grounded last week as conflict between the Australian carrier’s unions and management escalated.
This article appeared in The Edge Financial Daily, November 3, 2011.
