Friday 29 Mar 2024
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KUALA LUMPUR (April 20): With low-cost carrier AirAsia Group Bhd set to resume its domestic flights in the country on April 29, it has fuelled investors’ interest in the counter, making it the third most actively traded stock on Bursa Malaysia.

At 9.55am, the counter rose 7.5 sen or 9.55% to 86 sen, with some 56.84 million shares traded. This brings its market capitalisation to RM2.86 billion. Over the past year, the airline’s share price has fallen some 65% from RM2.47.

On the other hand, the resumption of flights of AirAsia X is still to be determined.

At 9.56am, AAX was up 2.5 sen or 18.75% at 9.5 sen, with some 60.51 million shares traded. This values the airline at RM394.07 million. On Bursa, it is the second most actively traded counter.

In a statement last Friday, AirAsia said the resumption of services will first be for key selected domestic routes, which will be increased gradually to include international destinations once the situation improves and governments lift borders and travel restrictions.

The resumption in flights will be followed by Thailand and the Philippines on May 1, India on May 4, and Indonesia on May 7, subject to approval from authorities.

The flights are already open for booking via its website and mobile app. Further details on more routes and flight schedule will be announced in the coming weeks, it added.

“We have undertaken a thorough review of our guest handling procedures both on ground and onboard in light of the Covid-19 pandemic. We have been working closely with the airport authorities to ensure that all the relevant precautionary measures are in place to ensure a safe, pleasant and comfortable journey for everyone," said AirAsia Group president (airlines) Bo Lingam.

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