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    CAPITALA   MYL5099OO006

AIRASIA GROUP

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End-of-day quote BURSA MALAYSIA  -  2022-08-16
0.6600 MYR    0.00%
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AirAsia Thailand pilots routes to China and Hong Kong SAR, indicating strong readiness to attract tourists to its Thai network

07/01/2022 | 11:32am EDT

BANGKOK- AirAsia Thailand (flight code FD) is launching direct flights to China and Hong Kong with close adherence to all travel policies. Bangkok Don Mueang-Hong Kong will begin with a weekly flight starting this 7 August 2022 before increasing to twice and thrice weekly in September and October 2022 respectively.

The promotional fare is being introduced for members starting from only 2,990 THB per trip. Book promotional seats this 1 - 3 July 2022 for travel between 7 August and 8 December 2022 using the airasia Super App.

A pilot roundtrip flight between Bangkok Don Mueang and Guangzhou will also be launched this 13 July with tickets to Thailand available on the airasia Super App. The flight is being carried out to demonstrate the carrier's readiness to serve routes to and from China as soon as the republic's government announces the country's official reopening.

The world's best low cost airline's initial goal is to bring tourists from China and Hong Kong to Thailand to help spur economic growth post-pandemic. Emphasis will be placed on AirAsia's expansive domestic network offering connections to all the Kingdom's regions to attract long-stay tourists with high spending capability.

AirAsia Thailand Chief Executive Officer, Mr. Santisuk Klongchaiya stated: 'China is Thailand's number one market for tourists and is home to a large population with high spending power. While the government of China has yet to fully allow foreign tourists, the relaxation of some measures has allowed the airline to restart its service and signals recovery for the country's economy and tourism sector. AirAsia reaffirms its adherence to established stringent health and safety protocols.'

'These two initial routes provide us an opportunity to welcome visitors to Thailand, which is already a very popular destination that many travelers from China and Hong Kong have been highly anticipating for the past two years. With restrictions further relaxed in Thailand, we have been marketing heavily in China and Hong Kong to tap into these tourism markets to sustain strong recovery post pandemic,' Mr. Santisuk said.

Note: Travelers to Hong Kong are required to undergo screening procedures. Arrivals are required to be fully-vaccinated, must produce a COVID-19 test result and required to undergo quarantine. Please review all details before departing. The Don Mueang-Guangzhou flight will be subject to a policy by the China government, which has allotted a limited entry quota to Thai airlines. Thai AirAsia is confident that once foreign travel restrictions into China are further eased, the airline will be ready to return to full service between the two countries.

(C) 2022 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2022 6 197 M 1 386 M 1 386 M
Net income 2022 -1 510 M -338 M -338 M
Net Debt 2022 14 496 M 3 241 M 3 241 M
P/E ratio 2022 -2,04x
Yield 2022 -
Capitalization 2 747 M 614 M 614 M
EV / Sales 2022 2,78x
EV / Sales 2023 1,47x
Nbr of Employees 14 778
Free-Float 49,5%
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Number of Analysts 13
Last Close Price 0,66 MYR
Average target price 0,78 MYR
Spread / Average Target 18,1%
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Anthony Francis Fernandes Group CEO & Non-Independent Executive Director
Pattra Boosarawongse Chief Financial Officer
Kamarudin bin Meranun Non-Independent Non-Executive Chairman
Kin Choy Lau Group Head-Information & Communication Technology
Nadzri Hashim Head-Engineering
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