马航与亚航3年财务分析报告Word下载.docx

马航与亚航3年财务分析报告Word下载.docx

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AirAsiaValue…………..…………………………………………………………...10

CHAPTERTHREEAnalysisofAnnualReportOfTheTwoCompanies..............11

AnnualReportof2011……………………………………………………..…….….12

AnnualReportof2012……………………………………………………………...18

AnnualReportof2013……………………………………………………………...23

CHAPTERFOURCompareBarchartsOfTheTreeYears..............................…....36

Conclusion……………………………………………………………………….......43

Reference………………………………………………………………………...…..44

INTRODUCTION:

MalaysiaAirlineswhichwasestablishedin1947asMalayanAirwaysisagovernment-ownedfullserviceairlineofMalaysiaandithasthelargestaircraftfleetinSoutheastAsia（Llc,2010）.MASisprincipallyengagedinthebusinessofairtransportationaswellastheprovisionofrelatedservices.Besidesbeinganairline,thegroupalsoinvolvedinaircraftmaintenance,overhaulandrepair,cargoandaircrafthandling（Malaysia,2011）.TheheadquartersofMASislocatedonthegroundsofSultanAbdulAzizShahAirportinSubang,KualaLumpur（Wong,Sundaram&

Chin,2006）.ThemainairtransporthubofMASistheKualaLumpurInternationalAirport（KLIA）,whileitssecondaryhubsareattheKotaKinabaluInternationalAirport,KuchingInternationalAirportaswellasPenangInternationalAirport（TravelChinaGuide,2013）.In2012,MAShasafleetof109aircraftswhichfrequent60destinationsin30countriesarossAsia,Europe,NorthAmericaandAustraliasia（Appendix2）.MASalsohas2subsidiriesnamelyFireflyandMASwings.FireflyoperatesscheduleflightsfromPenangInternationalAirportandSultanAbdulAzizShahAirports.MASwingsoperatesflightstoBorneoandIndonesia.MASalsoownsacargofreighterfleet,knownasMASkargo.Theymanagefreighterflights,aswellasaircraftcargohold-capacityfortheMASpassengerflights.

MAShadexperiencedthreeperiodsofunprofitability,namelyin1997,2005and2011（Malaysia,2011）.MASisalsolistedonthestockexchangeonBursaMalaysiabythenameMalaysiaAirlineSystemBerhad.Priorto2014,MAShasoneoftheworld'

sbestrecordswithonlytwofatalaccidentsin68yearsofservice.Thetwoincidentsthathadhappenwere（a）On4thDecember1977,93passengersand7crewswerekilledwhenascheduleddomesticflightfromPenangtoKualaLumpurcrashedatTanjungKupangand（b）OnSeptember15,199534peoplewerekilledwhenaFokker50crashedwhileapproachingTawau（Siva&

Scott,2014）.However,duetotherecentflightMH370disappearancewith239personsaboardandflightMH17whichwasshotdownwith298passengersandcrew,thiscredibilitystatementwasrevoked（.,2014）Afteryearsofbeingacknowledgedforitsexcellenceinservice,comfortandquality,MASisnowbeingheavilycriticizedforeverysingledecisiontheymakeandtake.

InAugust2014,KhazanahNasionalwhichowned69.3%oftheairlineshasannounceditsintentiontobuyoverthesharesfromtheothershareholdersat27seneachandde-listMASfromMalaysiastockexchangeonBursaMalaysia.OverintheBursaMalaysiaMASsharesarevaluedarRM0.255onlycomparedtoRm6.20backin2009.Atthemoment,MASisexpectedtobelosingmoneyoverthenextcoupleofyearsbasedontherisingjetfuelpricingandcurrentweakyield.DetailsoftherestructuringplanwhichwillbeundertakenbyKhazanahNasionalisyettobeannounced（,2014）.

MALAYSIAAIRLINEBACKGROUND:

MalaysianAirlineswasfoundedin1971whenajointairlineventurebetweenMalaysiaandSingaporeended.TheMalaysianairlinestartedasaregionalcarrierbutrapidlyexpandedserviceworldwide.

MalaysiaAirlinesachievedasignificantmilestonein2012whenitreceiveditsfirstAirbusA380-800.On1July2012,MalaysiaAirlinescementeditspositionasoneoftheleadingairlinesintheworldwiththehistoriclaunchofitsA380scheduledservicebetweenKLInternationalAirportandLondonHeathrow.

On1February2013,MalaysiaAirlinesbecameafull-fledgedmemberofoneworldallianceandisnowconnectedtosome850destinationsin150countriesacrosstheoneworldalliancenetwork.Theairlineholdsalengthyrecordofexcellence,havingreceivedmorethan100awardsinthelastdecade.

LOCATION:

MalaysiaAirlinesisaPremiumAirlinebasedinMalaysia-OperatesflightsfromKualaLumpurInternationalAirport

Onthiswebsiteyoucanfindlatestnews,announcements,promoticketsandfreeseats.

THEADDRESSOFAIRASIAINMALAYSIA:

VISION:

MASchangesitsvisionstatementfromtimetotimeaccordingtowhatthecompanywantstodointhefuture.SomeofthevisionstatementusedbyMASareasbelow:

-

∙Year2005-Tobecometheairline,uniquelyknownforitspersonaltouch,warmthandefficiency（MalaysianAirlineSystemBerhadAnnualReport04/05,2005）. 

∙Year2009-Tobetheworld’sfivestarvaluecarrier（FSVC）（MalaysianAirlineSystemBerhadAnnualReportAnnualReport2009）

∙Year2010-TobetheNumberOneAirlineinAsiaby2015（MalaysianAirlineSystemBerhadAnnualReportAnnualReport2010）

∙Year2012–untilnow-TobethePreferredPremierCarrier（MalaysianAirlineSystemBerhadAnnualReportAnnualReport2012&

2013）

MISSION:

MASalsochangesitsmissionstatementfromtimetotimeaccordingtowhatthecompanywantstodoatthemomentinordertoachieveitsgoalinthefuture.SomeofthemissionstatementusedbyMASareasbelow:

∙Year2005-Toprovideairtravelandtransportservicethatrankamongthebestintermsofsafety,comfortandpunctuality.

∙Year2009–2010-Tobeaconsistentlyprofitableairline（MalaysianAirlineSystemBerhadAnnualReportAnnualReport2009&

2010）

∙Year2012–untilnow:

∙OurJourneytowardsmakingourVisionarealityrequiresusto:

∙PutourPeoplefirstandbetheEmployerofChoice

∙Anticipate,consistentlydeliverandexceedcustomerexpectations

∙Buildonourrecognizedpersonalizedandsincere'

MalaysianHospitality'

service

∙Innovatetomaketravelanddoingbusinesswithushassle-free

∙Sustainablevaluecreationforourshareholders

MALAYSIAAIRKEYSTRATEGIC:

The4strategicobjectivesofMalaysiaAirlineare:

1-Buildingaprofitablenetworkbycarryingoutrouterationalizationexercise.

2-Winningbackcustomersbyintroducingstateofartpassengeramenities.

3-Relentlesscostfocus

4-Bridgethefundinggap

SOWTANALYSIS:

Shownbelowtheinternalfactorssuchasstrengthsandweaknesses,andexternalopportunitiesandthreatstobusinessobjectives,aSWOTAnalysisofMalaysiaAirline.

1-Strengths:

1-Goodcustomerservice

2-Technologyadvancement

3-StrongBackingofMalaysianGovt

4-IthasextensiveoperationsinSouthAsia,MiddleEast,Australiaandotherglobaldestinations

5-Oneofthemostpopularairlinesacrosstheworld

6-Strongbrandrecallandvisibilityduetoexcellentadvertisingandmarketing

7-Thecompanyhasastrongworkforceofover20,000employees

8-Itcoversover50internationaland35domesticdestinationswithafleetsizeofover100 

2-Weaknesses:

1-Dependentsontechnologyandinternet

2-Customercomplaints

3-Disasterwithregardstoplanelossesandaccidents;

terrorism.

4-Governmentinterferenceandregulation

5-Highinoperationcost

6-Newentranttoprovidethepricesensitiveservices

8-RelyingHeavilyonInternationalOnwardMovingTraffic

9-VeryLittleDomesticTrafficandlimitedmarketsharegrowth

3-Opportunities:

1-IncreasingGlobalPresence

2-Higherfuelcosts

3-.Globalization

4-Importanceanddevelopingoftourism

5-Economicdownturns

6-ContinuingdevelopingandspreadingITacrosstheworld

7-MoreRoutesinternationallytopopulardestinations

8-Moreservicesandchoicestocustomersatairportfacilities

4-Threats:

1-RisingFuelCosts

2-Changinggovtpoliciesandregulationsofregulatorybodies

3-IncreasingCompetitioninSEMarket4-Accidents,terroristattacksanddisaster

4-BargainingPowerofSupplier

5-Fluctuatingoilprices

6-ITsystemdisruption

MALAYZIAAIRLINESTOWSmatrix:

Strengths

Weakness

Opportunities

SOStrategies

∙5-Starqualityproductsandservice

∙Competitivefares

∙Grownetworkandbuildcapacity

WOstrategies

∙Replacefleetwithnewairplanestocutcost

∙Cutdownonnon-profitableroutes

∙Overcomeoverstaffingandlowproductivity

Threats

STStrategies

∙Improvefuelefficiency

∙Improvecorporategovernance

WTStrategies

∙TrainemployeesusingADDIE

∙Totalrewardsystemforemployees

∙Overcapacityduetonewairlines

1-SOStrategies

Imageofafivestarvaluecarrierwherebycustomersseekqualityairtravelandrealvalueformoneyhastobemaintainedatalltime.AlthoughthereputationhasbeentarnishedfollowingtheMH17andMH370incidentsMASmustmaintainserviceexcellenceandqualityasitstargetedcustomersdonotmakedecisionssolelyonprice.Improvingononlinebookingsystem,MASpassengerservicesystemandbuildingbrandloyaltyondeliveringtrueMalaysianHospitalityataffordablequality.MASmuststrivetosetaffordablefaresforstandardpackagewithoptionalservices.MASmustbeleisurefocusedbesidesbeingbusinessfocused.Itshouldalsolowerdistributioncostandgrowitsnetworking.Fleetshouldbetightlymatchedwithyieldtopreventtoomanyem