00:00In the past 24 years, we've gone through many ups and downs.
00:03This is another.
00:05I can say number one, COVID was far worse.
00:12Because we couldn't fly during COVID.
00:15Now we can fly.
00:18Demand is still quite strong.
00:21In fact, demand is better than before
00:24because more people are staying in this part of the world.
00:27They're not going to Europe and America.
00:30The second part of demand is a lot of capacity has been taken out from the Gulf.
00:38Emirates, Qatar Air, Etihad are effectively not flying.
00:43That's about 15 to 20% of airline seats.
00:48So that is why yesterday when I was coming back from Vietnam, I couldn't get a seat.
00:54I had to wait for someone to not show.
00:57It was very full.
01:00So demand is good.
01:01That's number one.
01:02Number two, we can fly.
01:05And before one of you negative guys says,
01:08what if you don't have oil?
01:11Then we cannot fly.
01:13All right?
01:14Okay?
01:14So on the assumption that we have oil, demand is good and we can fly.
01:23Number two is, because demand is good, we can recover this extra cost.
01:31Right?
01:32Fares will have to go up.
01:34There is no two ways about it.
01:36It's impossible.
01:38It's impossible.
01:38Right?
01:40But our fares will go up much less than others.
01:44And there's other opportunities for us that I don't want to talk about now.
01:48I'll talk about next week.
01:49We never waste a crisis.
01:52There's always an opportunity through a crisis.
01:56And AirAsia will continue to grow through this.
01:59There are many ideas that we are working on right now.
02:03But we will talk about it next week.
02:07Probably about this time next week.
02:09Okay?
02:10Last point I want to make.
02:13This burden cannot be shared by the aviation industry only.
02:20Fuel companies have to play a part.
02:23Airports have to play a part.
02:25Other supply chains have to play a part.
02:28This is a wonderful opportunity for ASEAN.
02:31It's a wonderful opportunity to build a hub and do all these extra things.
02:37Right?
02:37So, the great thing about this is all airlines are working together.
02:43Which is fantastic.
02:45In my 24 years, I have never seen airline companies love each other as much as they do now.
02:52That's a good thing.
02:54Okay?
02:55I leave it at that.
02:56I'll summarize.
02:58Demand is good.
02:59We're not cancelling flights.
03:01We are doing our best to keep fares as low as possible.
03:07We will require help from other parts of the aviation ecosystem to keep fares lower.
03:14Right?
03:15Because we don't control everything.
03:17Right?
03:19And we are confident that we will come out of this stronger.
03:24Okay?
03:25We will come out.
03:27We will use this time to, you know, accelerate fixing some of our planes.
03:32Because after Hari Raya, demand is a bit lower anyway.
03:35So, we were going to ground some planes and Mahesh is going to fix them himself.
03:40And we will have better on-time performance.
03:44Our head of Air Force will also, also engineer, will be helping Mahesh fix planes.
03:49So, I know most of you are probably here to talk about aviation and the doomsday scenario.
04:01Because that's your nature.
04:04That's why Donald Trump always complaining about the press.
04:07But I love all of you.
04:09Okay?
04:09So, I'm giving you about a little bit of a flavour.
04:15I summarise one more time.
04:17Not cancelling anything.
04:19We remain confident.
04:21We're moving forward.
04:23Next week, we will brief you.
04:26Exactly all our plans.
04:29Okay?
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