by Earheart Lindhberg, Donplaypuks® intrepid correspondent for aviation industrious crashing affairs
Malaysian newspapers, online news portals and blogs are awash with breaking news that a certain share swap deal between Tony F of AA and major shareholder of Mana Ada Sistem Airlines (MASA), the Great Khazi, is just a precursor to the eventual complete takeover of MASA by TF who will finally be appointed the Managing Director and become the public face of MASA.
Many suspect, and not without considerable justification, that the current situation where TF is a non-independent non-executive director of MASA is just an interim face-saving Ali-Baba arrangement to quell rebellion in the ranks and the natives in the "Malay heartland" (wherever that may, er, east of Kuala Selangor?) getting restless and rioting and looting (in Malaysia, no, never!) a la London and the Arab Spring Movement.
In any event, the deal would make no sense unless TF has been given assurances that for the moment at least, he will be calling and firing the shots from behind the scene regardless of whom the Great Khazi says is the Chairman and the CEO.
Many are against this share swap deal mainly because of the monopoly it will create and the hammering consumers will get from its price fixing.
Nevertheless TF's management and entrepreneurial flair may just be what MASA needs to shake off over 30 years of social welfare-type management style, Government interference and mismanagement and crony and management led plundering and looting that has brought MASA to its knees. A prime example is the allegation that outsourcing of MASA's catering requirements to a relative of a former sleeping prime minister resulted in $2 nasi lemak packets being procured for $20!! More shocking are allegtaions that Indian vegetarian meals cost MASA $200 per set!!??
Forget me not too that Perterjunan Malaysia Berhad (PMB, 100% owned by the Great Khazi/Taxpayer) is said to be saddled with some estimated $10 billion over of re-structuring losses and irrecoverable aircraft leasing charges.
Expect nothing less now than total staff shakeout and management re-structuring and VSS at MASA.TF and the Bina Fcukir boys will be fools if they don't start pruning, chopping, cleaning and clearing. An opportunity like this may not present itself more than once in 50 years!
