According to Malaysia Airports Holdings Bhd (MAHB), AirAsia owe it RM110.4 million for service charges were accumulated from 2002 until March 31, 2008. The interesting part is AirAsia started her operation at 2002, which means AirAsia had pay zero for the service charges.
The MD of MAHB told media that AirAsia had made request to the government for sub-consideration for reduction and for incentives and he emphasized the rates of service charges are determined by government and not by them.
The problem is how long already AirAsia did the request. If long enough, why still no response from government. If just did that request, why MAHB only now raise the issue out. I cannot commend much because I do not know the detail on the payment of service charges.
I just want to show how significant of the service charges as a cost for AirAsia. The service charges should categorize as operating expenses and it should affect the operating profit. Refer to AirAsia annual report 2007, the operating profit for financial year ended 31June2007 is RM262 million. I assume AirAsia operated 7 years from 2002 until March 31, 2008, and then the service charges are average RM15.8 million per year. The service charges can reduce the operating profit by 6% for every year from 2002 until now.
It is big amount if you ask me and I hope AirAsia successes in the request.
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