Student Name: Tamilvani Munusamy

Student ID: JA9112679

Degree Title: MBA Programme

Level: Professional

Module: Air Asia Culture

Module code: 1

Seminar Tutor: Nith John

Assignment title: Organizational Behaviour on Air Asia

Word count: 3028

Date of submission: July 10th, 2021

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Table of Contents

1. INTRODUCTION.............................................................................................................4
2. MACRO-ENVIRONMENTAL ANALYSIS.....................................................................5
2.1. PESTEL......................................................................................................................5
a) Political Factors......................................................................................................................... 5
b) Economical Factors................................................................................................................ 5
c) Social-Cultural Factor............................................................................................................ 6
d) Technological Factor............................................................................................................. 6
e) Environmental/Ecological Factors................................................................................7
f) Legal Factors.............................................................................................................................. 7
2.2. Porter’s Five Forces Industry Analysis...................................................................8
a) Threat of New Entrants......................................................................................................... 8
b) Bargaining Power of Buyers............................................................................................. 8
c) Bargaining Power of Suppliers........................................................................................9
d) Threat of Substitutes.............................................................................................................. 9
e) Rivalry among Competitors............................................................................................... 9
3. INTERNAL ANALYSIS10
3.1. VRIO.........................................................................................................................10
4. CRITICAL EVALUATION.............................................................................................12
4.1. SWOT.......................................................................................................................12
5. ANSOFF.........................................................................................................................15
6. BCG MATRICS ……………………………………………………………….............15

7. SAFS EVALUATION FRAMEWORK………………………………………………...17

8. CONCLUSIONS............................................................................................................20
9. RECOMMENDATIONS…………………………………………………………………20

9. REFERENCES..............................................................................................................23

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Executive Summary

AirAsia is a famous company in Asia and can be considered as the

market leader in airline industry. They are well known by promising and

provide the lowest fares to their customers. The slogan of ‘Now Everyone can

fly’ has become their famous branding and successfully stand out among their

competitors.

Besides that, AirAsia’s management has a very good strategy by

educating their staffs to work hard to fulfil the mission and vision of the

company. Flat organisation structure has encouraged their employees to work

as a team despite of department limitations.

According to internal and external analysis of AirAsia, they got a good

score which shows that they are not affected by both internal and external

factors. This shows a good sign for them as they would be able to figure out

their strategy for their business in future.

Next, the analysis of SWOT come out with critical strategies that must be

applied by AirAsia in order to perform better in future. ANSOFF analysis has

analysed their development in terms of product and market. BCG matrix

evaluations shows that AirAsia has to apply few strategies which linked with

their company’s operations.

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1. INTRODUCTION

Airasia, in 2001 sold to Tune Air Sdn Bhd for RM1, started from two

ageing aircraft and accumulated debt of RM40millions (Lim et al, 2009) has

become the world’s best low cost airline. In 2016, AirAsia Berhad (AirAsia) is

being awarded World’s Best Low-Cost Airline in Skytrax World Airline Awards

for eighth consecutive years.

According to The Star news, there is 13% year-on-year increase to 15.23

million of the number of passengers carried (The Star, 2017). AirAsia flies to

total of 109 destinations. In 2016, their net profit has jumped 3.7 times to

RM2.04 billion from RM541.28 million when compared to 2015. The market

shares in Malaysia, Philippine and Indonesia are 49%, 11% and 8%

respectively.

Firefly, Jetstar, Tigerair, Berjaya Air are among the competitors that

compete over Airasia as the range of low-cost carrier (LCC). However, Airasia

stands out as the largest airline in Malaysia by fleet size, total of destinations

and dominant choice of LCC among its opponents by the total passengers

carried which increase by 6% from 2015 (AirAsia Berhad, Annual Report

2016).

In this report, macro-environment analysis is analysed by using analysis of

PESTEL and Porter’s Five Forces. Internal analysis done VRIO analysis, and

organisation’s internal and external business environment by using SWOT.

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2. MACRO-ENVIRONMENTAL ANALYSIS

2.1. PESTEL

a) Political Factors

The government stands an important role in the growth of an

airline when they broaden the restriction in migration and encourage national

carriers. (Yashodha, 2012). In Thailand, the government attempted to boost

incoming tourists by waive the temporary visa fees. (AirAsia Berhad, Annual

Report 2016). While Malaysia’s government has increased 83% of airport tax

in domestic flights and 56% increase for international flights at KLIA2 which

will reduce the demand for airline services (Matta, 2016).

b) Economical Factors

Fluctuation in fuel price causes LCCs to decrease all other costs

to a minimum in order to reserve the quota for the changes of fuel price

(Merkert, 2015). Expand market in airline industry will commit to the increase

in GDP. For example, India has increased from 6.6% to 7.6% from 2013 to

2016 (Centre for Aviation, 2016). Drop in regional currencies against US

dollar since pass few years has caused customers choose to travel to ASEAN

countries instead of travelling to Europe countries (AirAsia Berhad, Annual

Report 2016).

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c) Social-Cultural Factor

There is a huge potential for ASEAN aviation market as more

than 50% of world residents live within a six-hour flying journey from Kuala

Lumpur and a five-hour flying radius from Bangkok (Yashodha, 2012).

Customers have a common mindset which doubted the safety of LCCs

(Welford, 2010). It is important to gain customer satisfaction and trust. This is

because according to a research, 50% sales in airline are from return

customers (Welford, 2010). The regularity of ASEAN families to use airline

services is more frequent due to their families bonding culture (AirAsia

Berhad, Annual Report 2009).

d) Technological Factor

Development using e-business and online based system can attract

and ease consumers to use the system which prove to contribute extra

income to airlines business (AirAsia Berhad, Annual Report, 2009). To

achieve the objective to espial and evasion of communication disease being

transmits via air travel, engineering like temperature-screening and BioMosaic

are being developed and implemented (United States GAO, 2015). Besides

that, to achieve environment friendly, Airbus 320 aircraft built with ‘sharklet

wing tips’ are used to lower wind drag which help for preferable fuel

consumption (Vazquez, 2015).

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e) Environmental/Ecological Factors

The “No Frills Service” is constructed to improve the cooperation

between airports and airlines as this can assist to minimize overall airport

expenditure (Yashodha, 2012). Airline industry has very concern about energy

efficiency. Air pollutions can be minimized by controlling the carbon footprint

(Airasia Annual Report, 2016). Furthermore, natural disasters such as

earthquake in Nepal on April 2015, volcano eruption in Indonesia on February

2014 and viral diseases such as SARS, MERS have affected the operation of

airlines (AirAsia Annual Report 2015).

f) Legal Factors

In aviation industry, international trade, tax policy and competitions

related regulations and restrictions have the main impacts to them (Teresa,

2014). Airport-emergency plan (AEP) with variety of hazards such as aircraft

incidents and accidents, natural disasters, restricted hazardous materials are

designed by airports under FAA regulations (United States GAO, 2015).

Airlines in Malaysia are mandatory to audit by Department of Civil Aviation

Malaysia (DCAM) which listed as one of the standard requirements of

International Civil Aviation Organisation (ICAO) (AirAsia Berhad, Annual

Report, 2016).

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2.2. Porter’s Five Forces Industry Analysis

a) Threat of New Entrants

Building an airline service required huge investment cost. Either

spend on purchasing aircrafts or advertising required large amount of start up

capital (ECA watch,2015). Besides that, huge manpower is needed.

According to KPMG analysis, the approximated growth from 62000 peoples in

2011 to 117000 peoples in 2017 are required in India aviation industry (Centre

for Aviation, 2017). On the other hand, it is not an easy to get an aircraft

operating licenses as the government has fixed few specific legally-binding

conditions in order to standardize and control the safety level of each airline

industries. Therefore, the threat for new entrants to airlines industries is low.

b) Bargaining Power of Buyers

There is high demand for affordable flight but there is also high

competitive between airlines due to various competitors are growing

consistently and expanding route network. This has changed the bargaining

power of buyers from low to moderate (Yashodha, 2012). Besides that, the

switching costs are low in airlines industries. This is because the brand is not

a major consideration to buyers; they will compare the lowest fares among the

airline (Yashodha, 2012). Various airlines are competing between the similar

services and seats (Dhamija, 2006). Comparison of airfares by among airline

companies by buyers can be done through websites like Expedia and Cheap

flights. Therefore, the bargaining power of buyers is high.

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c) Bargaining Power of Suppliers

The manufacturing of aircraft was monopolized by Boeing and

Airbus (Yashodha, 2012). There are also limited fuel suppliers in today’s

market and still ned to relay on jet fuel (Dhamija, 2006). The other supplier

such as food supplier will supply base on the market condition, they can not

increase the price as it will affect the long term business cooperation. Besides

that, the switching cost is high because the supply of aircrafts, fuel and

sufficient workforce are pertinent to the airline industry. As such, the

bargaining power of suppliers is high.

d) Threat of Substitutes

Railway and landed transport are more reasonable choices in

most ASEAN countries compare to domestic air transport (Yashodha, 2012).

However, in terms of time and convenience, the planes are the fastest among

all and might surpass all transportation services. Consumers may opt for rail

than bus services when travelling between Malaysia and Singapore which

offered lower fares and aware of the environmental impact of using air travel.

Therefore, the threat of substitutes for airlines is moderate.

e) Rivalry among Competitors

Increasing demand due to globalization has triggered the increasing

rivalry among airline industries especially the development of new LCCs

which provide lower airfare compared to traditional airlines (Yashodha, 2012).

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According to Centre for Aviation, it shows the top 5 fleet of airlines in Asia

Pacific from 2013 to 2016 are all from LCCs (Centre of Aviation,2015).

Furthermore, because of high exit barriers, LCCs are forced to expand their

business with providing services like hotel booking, cabs and other package

deals. Therefore, the rivalry among competitors is high.

3. INTERNAL ANALYSIS

3.1. VRIO

Resources / Organisational Competitive

Value Rarity Inimitable
Capabilities Support Implication

Competitive Competitive
Yes No No Yes
Airfare parity

Physical and Temporary

Organization Yes Yes No Yes Competitive
Resources advantage

Company Sustained
Branding and Yes Yes Yes Yes Competitive
Image advantage

Table 1: VRIO Analysis for AirAsia

Table 1 shows the VRIO analysis for AirAsia by comparing three

resources and capabilities.

Airasia is able to provide affordable airfares to consumers by hedging

for low fuel price, cost savings from single aircraft operations, fuel and energy

consumption management systems. This capability is not exclusive and can

be easily achieved by other competitors. Therefore, it serves as competitive

parity.

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Besides that, physical and organization resources in tangible wise

like group fleet size of 174 Airbus-A320 in 2016 and owns subsidiaries in

Thailand, Indonesia, Philippines, India and Japan (AirAsia Berhad, Annual

Report 2016).

On the other hand, the intangible resources can be obtained from

sustainability policy such as SMS, talent attraction program, the management

on fuel and energy consumption which leads Airasia to the World’s Best Low

Cost Airline awarded by Skytrax World Airline. The way of their management

is rare but still can easily imitate by competitors which lead temporary

competitive advantage to AirAsia.

Airasia has been very creative in creating their own company branding

and images which successfully influenced their consumers. With their famous

slogan “Now Everyone Can Fly” and “Free Ticket” campaign, they have

implant an oppose image of flying with aircraft which is very expensive and

non-affordable to buyers (AirAsia Berhad, Annual Report 2016). In addition,

they have been very focus in marketing their brands through all social medias

available in order to reach all potentials buyers. This capability is hard to be

imitated by competitors so that AirAsia can sustain competitive advantage.

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4. CRITICAL EVALUATION

4.1. SWOT

Internal: 1. AirAsia is able to provide lower airfares to obtain large

Strengths amount of passenger loads by reducing the expensive in-

flight services, selling tickets online directly to passengers

and minimizing labour, facilities and overhead costs (Zhu.

A,2010).

2. AirAsia combines Malaysia, Indonesia and Philippines

units as OneAirAsia, which can share a single cost

structure, brings prodigious benefits in the scale of

economies and achieve a superior position in the markets

(Idris, A.N,2017).

3. Tony Fernandes focused in employee value and join

every airline workers to accomplish the share goals.

AirAsia become the market leader in 2017 by owning 80

aircrafts while Malindo owns 43 aircrafts

(Airfeets.net,2017).

Internal: 1. Air Asia does not have its own maintenance, repair and

Weakness overhaul (MRO) facility (Palansamy, Y,2015)

2. The rate of customer complaints on Airasia service are

quite high (Complaint board,2017).

3. Airasia heavily reliance on online sales which exposed to

a risk of system disruption (Zhu.A,2010).

External: 1. Waived of temporary visa fees in Thailand to attract

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tourists visiting (AirAsia Berhad, Annual Report 2016).

Opportunities

2. The engine of A320neo aircraft are capable to improve

fuel efficiency and seat capacity (AirAsia Berhad, Annual

Report 2016).

3. “Wonderful Indonesia” campaign is promoted by the

government of Indonesia in order to achieve the objective

to increase the number of travelers (AirAsia Berhad,

Annual Report 2016).

External:

Threats
1. Increasing of transmissible diseases affecting travelers’

travel frequency (United States GAO, 2015).

2. Company’s financial performance can be affected by the

fluctuations of currencies and interest rates (AirAsia

Berhad, Annual Report 2016).

3. Increase in fuel prices from US$64 per barrel in 2016 Q4

to US$66 in 2017 Q1 (Lee 2017).

4. Customers’ perspective on low cost airline on poor safety

maintenance that may affect the ticket sales.

Table 2: SWOT Analysis for AirAsia

Table 2 reflects the critical evaluation on AirAsia by using SWOT

analysis.

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The strength of AirAsia is that they are able to provide low cost

airfares by reducing management and operation cost. They make good used

of technology for them to be able to reach their buyers directly through

website which helps in reducing labour cost. This has been their trademark of

the company. Airasia has cooperated with Shin Corporation, the largest

commercial company in Thailand by holding 50% of AirAsia Thai share which

allows AirAsia to grow bigger market size in Thailand (Academia, 2016).

In the contrary, the major weakness of AirAsia is they are too relying

on online sales as there will be a risk of system disruption. This would result

to loss the customer satisfaction and confidence on their services. Besides

that, AirAsia does not have their own maintenance, repair and overhaul facility

(MBO) which will cause the lack of ability to handle emergency cases and

poor maintenance on the aircraft.

Furthermore, there are many opportunities to boost tourist arrivals as

many countries have use their own way to promote and provide special

services to attract their consumers. For example, ‘AIRASIA ASEAN PASS’

started from 2015, has provided an opportunity for them to build a strong

image which provide the lowest fares among ASEAN workforces.

Lastly, the fluctuation of fuel price and currencies would be the threat

for AirAsia. The unpredictable rates of airport taxes and landing charges are

beyond the company’s control. The customer’s perspective might affect the

image of LCC airlines which think that it may be poorly maintained to keep the

fare low. This may affect the sales of tickets.

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5. ANSOFF

Market Penetration Products Development

-Increase flight frequency to various -Provide new routes in existing

destinations. market.

-BIG Duty Free, BIG Pay, BIG Loyalty

program, Rokki on-board WIFI

Market Development Diversification

-AirAsia uses their operating -Ancillary new business and services

experience in Malaysia to expand such as T& Co Coffee and SATS Ltd.
their airline business to various
countries such as Thailand,
Philippine, Indonesia and India.

Table 3: ANSOFF

Market Penetration

AirAsia as a market leader in Asia tends to increase the flight frequencies

to various destinations for example South Korea. They planned to increase

the flight frequencies to South Korea as they targeted 80% load factor in the

first 12 months to meet the anticipated robust market demand (Nikkei Market,

2017). Besides that, AirAsia decided to rise to 18 weekly flights from Kuala

Lumpur to Seoul from the current 14. Besides that, AirAsia also announced

the flight frequency from Trichy and Kochi will increase from 11 times to 14

times a week. The flight service from Kuala Lumpur to Balikpapan has

increased from three times a week to once a day.

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Market Development

AirAsia uses their operating experience in Malaysia to expand their

airline business to various countries such as Thailand, Philippine, Indonesia

and India (Yoshodha, 2012). Besides that, AirAsia Malaysia introduced new

routes from Johor Bahru to Langkawi, Cebu to Caticlan, Utapao to Phuket

(Liu,2017). From this, we can see that AirAsia has strong intention to continue

expansion.

Product Development

One of the vision of AirAsia is to turn into digital airline by investing BIG

Duty Free, BIG Pay, Rokki Wifi and various digital services. The expected

increase income from RM46 to RM60 per passenger. Moreover, they also

keep improving their website by helping to save the last search for the ease of

searching experience of customers (Corinne, 2017).

Diversification

AirAsia also invests for other fields business such as T&CO Coffee, one

of the forward integration strategies by acquiring 80% of stakes. From this,

they are able to supply good coffees and also earned extra profits from the

coffee retail shops (Gho,2017). Furthermore, the joint ventures with SATS

company from Singapore who provide ground handling and in-flight catering

services has helped AirAsia to save cost and produce additional profits.

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6. BCG MATRICS FLIGHT ROUTES

STARS
QUESTION MARKS

KL to Penang
KL to Gold Coast
KL to Johor Bahru

CASH COW DOGS

KL to Singapore KL to London

Table 4: BCG Metrics on Flight Routes

STARS

The star is diametrically opposite the dog as it shows the high market

share with high growth market. It makes maximum profit and comprise strong

branding and marketing. The domestic flight route from KL to Penang and JB

has 98% sold out rate. AirAsia produced 90% of high profit margin. For

recommendation, AirAsia can provide special counter or express counter for

who taking flight on this route.

QUESTION MARKS

Question Marks presents the high growth in market but having low

market shares. It has potential to become stars if the company has sufficient

funds to invest and advertise on the particular routes or else it will fail and

become a dog. For example, KL to Gold Coast is a potential flight routes as it

provides the cheap options than flying a long haul flight to European

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countries. For recommendations, AirAsia can increase the flight frequency

and believes it will bring high profits for them.

Cash Cow

Cash Cow will be high market shares but with no growth or little growth.

In this case, AirAsia should not focus on advertising but on the retention on

customers. For example, the flight route from KL to Singapore, the growth is

slugging but the demand is aggressive. In cash cow, this route has great

potential to become a star.

DOGS

Dogs considered as low market shares and growth. It will become high

in liabilities as company need more money to support it. For example, the

flight route from KL to London. Consumers rather choose for better services

flight company than go for low cost due to the long haul journey to London.

Due to this reason, AirAsia has stopped this route from January 2012.

7. SAFS EVALUATION FRAMEWORK

7.1 Suitability

AirAsia strategies to increase the flight frequencies from Bangkok to

Chiang Mai (Ross,2017), Manila to Kuala Lumpur (AirAsia Annual Report,

2016) and Kuala Lumpur to Kaohsiung (Malaymail Online,2017) due to the

high demand and tentatively growth of load factor in 2016. This can reduce

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the competitive intention, at the same time help on the economical growth

and maintain their position as market leader in low cost airline industry.

7.2 Acceptability

For “Return’ criteria, AirAsia achieved 9% growth in revenues on 2016

and increased in net profit from RM83 millions in 2014 to RM541 millions

in 2015 (AirAsia Annual Report 2015). Besides that, AirAsia successfully

reduce their total debt from RM 12.61 billions in 2015 to RM10.58 billion in

2016 with their high net profit (AirAsia Annual Report 2016).

Besides that, in “Risks” criteria, AirAsia India scaled up to larger

workforce from 650 to 1050 peoples and will increase from 8 planes to 14

planes by October hold a certain risk because of their small market share

of 2 to 3% (The Economic Times,2017). However, by developing good

financial performances, they forecasted to make profit by 2019.

Furthermore, AirAsia successfully gained satisfactory reactions of

stakeholders with the rising of stock price at RM3.25 in August 2016 from

RM1.44 in January (AirAsia Annual Report,2016). AirAsia had signed a

shareholders’ agreement and a share subscription agreement with Gumin,

Tran Trong Kien and Hai Au Aviation to establish a LCC in Vietnam which

are positively reviewed (The Star Online,2017).

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7.3 Feasibility

AirAsia owned strong cash recourses at RM2.43 billion in 2015 and

RM1.74 billion in 2016. Besides that, their total debt has dropped from

RM12.6 billion in 2015 to RM10.58 billion (AirAsia Annual Report,2016).

Moreover, AirAsia practiced flat organization structure which help in cost

saving on labor cost , adaptability in market change, promotes oneness

among the staffs (Deal Street Asia, 2017).

7.4 Sustainability

AirAsia has been voted as the world’ best LCC for subsequently 9

years. To maintain as market leader, AirAsia has increased their flight

frequencies, adding routes and boosting capital investment while other

airlines are cutting down due to the raising of fuel price.

8. CONCLUSIONS

As a conclusion, PESTEL analysis shows that the number of airlines

and air passengers has grown as the increasing demand for airline

services. Besides that, Porter’s 5 forces demonstrate the airline industry is

highly competitive, low threat of new entrants, moderate bargaining power

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of buyers but high bargaining power from supplier and moderately high

threat of substitutes.

Airasia is strong in its branding and marketing strategies however due to

they allow limited cost on their management and maintenance, customer

satisfaction and reliance are low. Besides that, they have been too relay on

online sales which might be the threat for them when the system disruption

happened. Lastly, in VRIO analysis presents that Airasia should focus on

promote and enhance its branding and image to sustain competitive

advantage.

For ANSOFF analysis, market penetration can be done by increasing

the routes to more destinations so that can reach to more customers. Product

development can be done by evolved to more digital services to ease the

customer usage and market development to other countries can promote the

branding name. Through BCG matrices can be concluded that AirAsia need to

focus more on cash cow development and try to improve or eliminate dogs to

prevent loss. Lastly, SAFS evaluation can be concluded that sustainable

strategy as market leader has to be made and evaluate time by time in order

to maintain in market position.

9. RECOMMENDATIONS

For long term value creation, recommendations can be made

through few perspectives. Air Asia can build up their own MRO facilities

and maintenance teams for repair and service airplanes. Besides that, on

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financial perspective, AirAsia has to ensure that they are able to achieve

below following initiatives to be achieved in order to sustain the targets for

the following years. AirAsia should work out to reduce the increasing rate

of customer complaints on their service by allowing phone calling for easy

reachable customer service. They have comparatively bad reputation with

customers due to the frequent delay and cancellation of flights. Therefore,

improvements are needed to gain customers’ trust. Moreover, AirAsia has

to be aware of the internet system failures that would seriously effect the

operations for such a technologically reliant company. AirAsia must always

has back up facilities or IT staffs to stand by whenever there is system

failure.

Furthermore, risk management is crucial for them to stimulate and

figure out the right strategies to be applied to succeed in the unstable

market trend. To align with Malaysia Government vision to have good

cooperation with China and India, AirAsia should plan to expand their flight

destinations to different states of China and India in order to increase their

brand name as low cost leading airlines so that it helps to overcome the

risk of potential newcomers and raise the market share in future. This can

also boost up the number of China visitors.

Moreover, AirAsia should collaborate with famous brands to build

relationships with them for branding images purpose. Lastly, AirAsia can

strive into educations fields by provide education funding and build training

centres or maybe few years later can organise an AirAsia University.

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10. REFERENCES

AirAsia (2009) Annual Report [online] available from

<https://www.airasia.com/iwov-resources/my/common/pdf/AirAsia/IR/annual-

report-2009.pdf> [15 September 2017]

AirAsia (2016) Annual Report [online] available from

<https://www.airasia.com/cdn/docs/common-docs/investor-relations/airasia-

annual-report-2016.pdf> [15 September 2017]

Airfeets.net (2017) Malindo Air fleet details. available from <

http://www.airfleets.net/flottecie/Malindo%20Air.htm> [12 October 2017]

Brown, A., Gogzheyan, R., Huwei, G., Meininger, M., Riedel, J., and Ryan, C.

(2009) Airline Industry Analysis [online] available from

<https://www.nku.edu/~fordmw/mgt490projectairlines.pdf> [4 October 2017]

Burns & McDonnell (2011) Keeping Commerce in Flight: 100 Years of

Commercial Airports [online] available from

<http://www.burnsmcd.com/insightsnews/insights/aviation-special-

report/2011> [4 October 2017]

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Cederholm, T. (2014) Must-know: External factors that influence the airline

industry [online] available from < http://marketrealist.com/2014/09/must-know-

external-factors-influencing-airline-industry/> [4 October 2017]

Centre for Aviation, CAPA (2016) CAPA India Aviation Outlook 2017/18:

Surging Traffic but Infrastructure Constraints Become Critical [online]

available from < https://centreforaviation.com/insights/analysis/capa-india-

aviation-outlook-201718-surging-traffic-but-infrastructure-constraints-become-

critical-314982> [4 October 2017]

Complaint board (2017) AirAsia Customer Care Service, Complaintboard,

[online] available from < https://www.complaintsboard.com/air-asia-b119170>

[13 October 2017]

Dhamija, A. K. (2006) Strategic Management – Porter Analysis for Civil

Aviation Industry [online] available from

<http://akdhamija.webs.com/consultancy/Porter%20Airline%20Industry1.pdf>

[4 October 2017]

Hunter, M. (2016) ‘Is it time for Air Asia to reinvent itself?’. ASEAN

Correspondent [online] 7 March. available from

<http://asiancorrespondent.com/2016/03/is-it-time-for-air-asia-to-reinvent-

itself/#ABISk2V8WR4GRBgC.97> [4 October 2017]

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Idris, A. N. (2017) ‘AirAsia sees 2017 results surpassing that of 2016 despite

lower profit in 1Q’, The Edge Markets, [online] 25 May. available from <

http://www.theedgemarkets.com/article/airasia-sees-2017-results-surpassing-

2016-despite-lower-profit-1q> [13 October 2017]

Lee, L (2017) ‘UPDATE 1-Malaysia's AirAsia X feels impact of weak ringgit,

higher fuel cost’. Reuters [online] 23 May. available from <

http://www.reuters.com/article/airasiax-results/update-1-malaysias-airasia-x-

feels-impact-of-weak-ringgit-higher-fuel-cost-idUSL4N1IP3TD> [13 October

2017]

MalayMail Online (2016) ‘AirAsia promises to appeal if new airport tax same

for klia2’ MalayMail Online [online] 23 September. available from

<http://www.themalaymailonline.com/malaysia/article/airasia-promises-to-

appeal-if-new-airport-tax-same-for-klia2#UJ1eqTcwK3u2PM7W.97> [4

October 2017]

Merkert, R. (2015), ‘Explainer: fuel hedging and its impact on airlines and

airfares’. The Conversation [online] 30 January. available from

<http://theconversation.com/exlainer-fuel-hedging-and-its-impact-on-airlines-

and-airfares-36773> [27 September 2017]

Palansamy, Y (2015) ‘Government bias towards AirAsia caused MAS

downfall, union claims’, Malaymail Online, [online] 16 June. available from <

http://www.themalaymailonline.com/malaysia/article/government-bias-

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towards-airasia-caused-mas-downfall-union-claims#BzRLflc2yjyHsbWR.97>

[13 October 2017]

United States Government Accountability Office, GAO (2015) Air Travel and

Communication Diseases: Comprehensive Federal Plan Needed for U.S.

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