AirAsia-related actions rise as travel restrictions lifted

0


KUALA LUMPUR (October 11): Shares of AirAsia Group Bhd (AAGB) and AirAsia X Bhd (AAX) rose mid-morning on Monday as inter-state travel restrictions during a pandemic were lifted.

By 10:06 a.m., the AAGB had risen 8.4% or one sen to RM 1.29, valuing it at RM 5.03 billion, while the AAX jumped 23.53% or two sen to 10 , 5 sen, with a market cap of RM 435.56 million.

The AAGB plans to reactivate around 30 to 45 planes this month if interstate borders were lifted, group (airlines) chairman Bo Lingam said last week.

“We look forward to the reopening of interstate travel. We have started retraining pilots in anticipation of the opening. If interstate travel is allowed, we hope to have 20 planes ready to be reactivated by October 10 (Sunday) and about 10 more by October 20. If all goes well, we plan to reactivate 15 other planes by the end of the month ”, Lingam Told The edge when contacted.

On how much the airline would have to spend to reactivate its operations, Lingam said it would involve a one-time cost of around RM 3-5 million to retrain pilots, and around RM 5-10 million to have its pilots re-trained. planes go through all the necessary steps. check before returning to the plane.

Interstate travel is now allowed for all fully vaccinated Malaysians between all states – starting Monday – Prime Minister Datuk Seri Ismail Sabri Yaakob said in a special televised address on Sunday.

It also means that international travel and domestic tourism are fully open and Malaysians no longer have to apply for MyTravelPass approval to travel abroad, Ismail Sabri said.

International travel was previously only allowed to Malaysians for business or educational purposes, as well as for official government matters.

Read also:
AirAsia plans to reactivate 30 to 45 planes this month if interstate borders are lifted
PM: Interstate and overseas travel allowed for fully vaccinated people from October 11


Share.

Leave A Reply