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March 15, 2021

AirAsia Rises Back

 AirAsia Group Bhd's share price jumped to its highest level in a year after rising 12 sen or 10.43% to RM1.27 in this morning's trading session.

The increase was due to the positive development of the Covid-19 vaccine which prompted the recovery of several sectors including the aviation sector.

On Bursa Malaysia, AirAsia Group hit RM1.25 as of 10.08am and about 65 million shares changed hands after investors considered several reports including confirmation of Thai AirAsia Co Ltd which will restart 40 domestic flights in Thailand starting next month.

At RM1.25, AirAsia Group has a market value of about RM4.64 billion based on 3.71 billion shares traded.

The company's share price had previously dropped to 52 sen on March 19, 2020.

According to Thai AirAsia's Chief Executive Officer (CEO), Santisuk Klongchaiya as quoted by TTR Weekly, the flight service will resume covering all flights from Bangkok's two airports, Suvarnabhumi and Don Mueang, as well as 14 routes across the country.

Starting April 1, AirAsia will increase frequencies on popular routes such as from Don Mueang to Chiang Mai with 13 flights a day, Phuket (11 flights a day), Hat Yai (eight), Surat Thani (six) and five flights a day to Chiang Rai, Khon Kaen and Udon Thani.

"AirAsia will also reopen five routes from Suvarnabhumi Airport to Chiang Mai, Phuket, Hat Yai and Nakhon Si Thammarat," TTR Weekly reported.

Santisuk added that he would be happy with the high demand for air travel in Thailand and was also proud to be part of the recovery of the tourism industry in the country.

"AirAsia is closely monitoring the Covid-19 pandemic and we are very pleased to be able to improve our flight services following the improving situation," he said.

According to several reports, Thai AirAsia has stopped its international flights since March 22 last year.