KUALA LUMPUR (June 11): Shares in low-cost carrier AirAsia Group Bhd rose as much as 2.94% in active trade this morning, after the group launched its unlimited Cuti-Cuti Malaysia pass campaign priced at RM399 nett to stimulate the country's domestic tourism.

At 10.53am, shares in AirAsia rose three sen or 2.94% to RM1.05, valuing the group at RM3.41 billion. It saw some 47.31 million shares traded.

AirAsia was among the top active stocks in Bursa Malaysia's morning trade today.

Yesterday, the group said the unlimited pass was available to all Malaysia-based AirAsia BIG members and for travels from June 25, 2020 up to March 31, 2021.

It said the pass would cover 16 domestic destinations including Alor Setar, Langkawi, Penang, Ipoh, Johor Baru, Kuala Lumpur, Kota Baru, Kuala Terengganu, Kuching, Miri, Bintulu, Sibu, Kota Kinabalu, Sandakan, Tawau and Labuan.

AirAsia added flights redeemed with the unlimited pass were subject to government taxes and fees, add-ons and other applicable charges. Flight bookings must be made at least 14 days before departure; embargo period and other terms and conditions apply.

Following the government's announcement on the Recovery Movement Control Order, its chief executive officer Riad Asmat said yesterday that the group welcomed the reopening of domestic travel, along with incentives such as the RM1,000 income tax relief for domestic tourism expenses up until December next year.

"We are all in this together. Reviving the travel and tourism industry will need to be a collective effort, and we look forward to working together with all tourism stakeholders from hoteliers to travel agents to achieve this objective.

"For AirAsia, the unlimited pass is our key offering for guests to redeem unlimited flights within our domestic network across 16 destinations," he said.

"By travelling domestically, we can all support the local communities and contribute to rebuilding our economy. As travel reopens we ask for the cooperation and understanding of our valued guests — please remember to practise high personal hygiene and wear a mask," he added.