Wednesday, December 24, 2008

Jetstar Says There Is NO Discussion Of Merger With AirAsia!

Rather embarrassing yet again for AirAsia.

Blogged yesterday:
AirAsia Merger With Qantas's Jetstar?

  • The talks are still in preliminary stages and it is learnt that AirAsia’s boss Datuk Seri Tony Fernandes and Qantas new chief executive officer Alan Joyce have been mulling over it. They last talked on the issue last week, a source said. ( see AirAsia-Jetstar merger brewing )

Today, Business Times rebroadcasts the following news posted on Bloomberg: Jetstar denies merger plan with AirAsia

  • SINGAPORE: Jetstar Asia Airways Pte Ltd, the Singapore-based budget carrier backed by Qantas Airways Ltd, denied a report saying it was in talks with AirAsia Bhd (5099) on a possible combination.

    There is "no discussion on any merger", Jetstar chief executive officer Chong Phit Lian said in an e-mail reply to Bloomberg queries. The two are working on commercial arrangements, such as transferring passengers between each others' flights when delays occur, she added.

    AirAsia, Southeast Asia's biggest discount airline, and Jetstar may be in exploratory talks on a possible merger, a Malaysian newspaper reported yesterday, citing people it didn't identify.

    Sepang, Malaysia-based AirAsia's chief executive officer Datuk Seri Tony Fernandes didn't answer calls to his mobile phone or reply to an e-mail seeking comment.

    AirAsia closed half a sen lower at 92.5 sen in Kuala Lumpur trading, after earlier rising as much as 2.2 per cent. The shares have declined 43 per cent this year. Jetstar is closely held, with Qantas owning the largest stake. - Bloomberg

Didn't answer any calls?

Don't you get the feeling that lately AirAsia is trying desperately to talk itself up in the media?

There was the audacious plan to privatise itself but what was more daring, a GO takeover price was boldly announced! ( Is it wrong to speculate that perhaps AirAsia was trying to create a support for its stock price?)

And now a merger with Jetstar?

Now who is that source mentioned by Star Biz in its article AirAsia-Jetstar merger brewing

Yes who?

Did the source simply created this merger story to drive up the stock price?

Don't we want to see the end of this nonsensical 'according to sources' type of reporting here in Malaysia?