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    AIRASIA   MYL5099OO006

AIRASIA GROUP BERHAD

(AIRASIA)
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AirAsia Berhad : Airline Holding Company renamed in reorganisation to create clear Airline vs Digital distinction

10/14/2021 | 01:02am EST

Group CEO of AirAsia Aviation Limited Bo Lingam said: "This structural change helps facilitate strong projected growth in both airline and non-airline portfolio businesses.

"The AirAsia Aviation Limited entity holds our existing airline investments and paves the way for new airline ventures to be formed in due course. We have also established a new AirAsia Consulting division tasked at reviewing new airline partnerships and franchise opportunities.

"By creating this airline holding company we can focus on continuing to be the world's best low cost airline. We have spent the past 18 months reviewing every aspect of the operation to ensure that our airlines will return stronger than ever before. The world is finally opening up and we foresee a V-shaped rebound in air travel in the near future. In Malaysia, we are already seeing huge pent up demand for air travel since the government's recent announcement of the resumption of interstate travel on 11 October. We are operating over 60 daily flights to 16 key leisure destinations and more frequencies and routes will continue to be added in response to significant consumer demand.

"Pleasing progress is also underway in our other airlines in Thailand, Indonesia and the Philippines as services are resuming in line with accelerated vaccination rates and the easing of travel restrictions in our key markets.

"To ensure the safety of our staff and guests, we are also implementing stringent health and safety measures, with the highest standards of hygiene.

"We look forward to the opening of international borders as the next key milestone. We will continue to review new markets to operate from in the future, like Cambodia for example, when we can connect Asean once again with the best value fares and lifestyle offerings."

Disclaimer

AirAsia Group Berhad published this content on 14 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 October 2021 05:01:02 UTC.


© Publicnow 2021
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Financials
Sales 2021 1 332 M 316 M 316 M
Net income 2021 -2 596 M -616 M -616 M
Net Debt 2021 14 474 M 3 431 M 3 431 M
P/E ratio 2021 -1,34x
Yield 2021 -
Capitalization 3 450 M 820 M 818 M
EV / Sales 2021 13,5x
EV / Sales 2022 2,34x
Nbr of Employees 21 059
Free-Float 60,7%
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Mean consensus UNDERPERFORM
Number of Analysts 18
Last Close Price 0,89 MYR
Average target price 0,89 MYR
Spread / Average Target 0,56%
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Managers and Directors
Anthony Francis Fernandes Group CEO & Non-Independent Executive Director
Pattra Boosarawongse Group 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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