October 2018. "
Panasonic Avionics Corporation will pay FLYHT a subsidy of USD$3.3 million. PAC’s total subsidy can be increased or reduced if FLYHT’s income relating to the acquired PWS assets falls short of or exceeds certain agreed upon thresholds. Pursuant to the terms of the acquisition of PWS assets and the transition agreement, FLYHT is paying no monetary consideration to PAC for the PWS assets."
Why such a sweet deal? I believe PAC was trying to create a soft landing for PWS (Panasonic Weather Services) employees and the Tamdar-related product line amidst the company's many legal woes.
https://www.flightglobal.com/analysis/analysis-the-legal-travails-of-panasonic-avionics/127981.article The final subsidy exceeded USD$3.3 million. If interested, financial reports at the time showed the amounts as line entries.
AirAsia was a big part of that business with expansion planned, and when COVID hit, AirAsia really struggled. International flights were hit hardest. AirAsia has not fully recovered even to this day, perhaps by later this year. If the contract is still in place, the returning volume of sellable data should help FLYHT revenue.
KUALA LUMPUR, 24 January 2024 - Capital A Berhad (“Capital A” or the “Group”) has announced operating statistics for its aviation, digital, logistics and aviation services segments for the Fourth Quarter ("4Q2023") and Full Year of the Financial Year 2023 (“FY2023”).
AIRASIA AVIATION GROUP
The airlines – AirAsia Malaysia, AirAsia Thailand, AirAsia Indonesia, and AirAsia Philippines (collectively the “Group”) – have consistently recorded load factors in the high 80s every quarter, leading to a robust Group load factor of 88% for FY2023 - a Year-on-Year (“YoY) increase of 5 percentage points (“ppts”). This achievement signifies the return of strong travel demand, which was aligned to the Group’s relentless effort in injecting capacity back into the market and reinstating the route network. As more capacity is made available, operations continue to stabilise and customer experience improves.
Closing the year with 162 operational aircraft, overall the Group carried nearly 57 million passengers for the entire year. Compared to pre-Covid levels, the aviation group passenger carried recovery reached 77% on the back of 74% capacity recovery. Leading the way is the domestic recovery which stands at 82%, while the international recovery is at 72%. Within the Group, AirAsia Indonesia and Thailand experienced the most substantial recovery at 90% and 85%, respectively, followed by AirAsia Malaysia and Philippines at 72% and 77%.