Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. Malaysia
  5. AirAsia Group Berhad
  6. News
  7. Summary
    AIRASIA   MYL5099OO006


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Asia's airlines ramp up flights, offers as tough COVID travel curbs ease

10/13/2021 | 03:57am EST
FILE PHOTO: A Malaysia Airlines plane carrying the first batch of tourists arrives as Langkawi reopens to domestic tourists, amid the coronavirus disease (COVID-19) pandemic, in Malaysia

SYDNEY/SINGAPORE (Reuters) - Asia-Pacific airlines have lost billions of dollars this year, with jets grounded in COVID-19 transportation freezes. Now, as some of the world's strictest pandemic-related travel rules begin to ease, they're ramping up flights and ticket offers.

Asian travel agencies and carriers told Reuters they're seeing a surge in bookings and travel enquiries as countries like Malaysia and Vietnam allow domestic flights to resume from this week after months of strict lockdowns.

India is lifting a domestic capacity cap, while Singapore, Thailand and Fiji are opening without quarantine to vaccinated international travellers from select countries.

While airline industry group IATA does not expect a significant improvement in Asia-Pacific international travel until "later in 2022 https://www.reuters.com/business/aerospace-defense/iata-sees-sharp-fall-airline-losses-2022-2021-10-04/#:~:text=The%20losses%20for%202021%20were,from%20%24126.4%20billion%20estimated%20earlier.&text=%22We%20are%20past%20the%20deepest,told%20the%20group's%20annual%20meeting" - predicting cumulative losses of $11.2 billion this year, narrowing to $2.4 billion next year - carriers from AirAsia Group to VietJet Aviation, Singapore Airlines, Fiji Airways and Qantas are already increasing capacity.

"The most important thing is practically all governments in the Asia-Pacific region with maybe one or two exceptions are abandoning their COVID-zero strategies and moving to a sort of COVID-normal framework," said Association of Asia Pacific Airlines Director General Subhas Menon.

"Vaccination rates are also beginning to ramp up."

While curbs are easing, a full return to normal operations is a long way off. IATA estimates global aviation industry losses from the pandemic will be a towering $200 billion for 2020-2022, and losses in Asia alone were close to $50 billion in 2020. International travel in the Asia-Pacific region was at around 4% of 2019 levels in August.

And though the relaxation of restrictions will open the way for some tourism, initially it will mean a comparative trickle: Thailand expects only around 100,000 foreign visitors this year, down from nearly 40 million in 2019.

Still, there's pent-up demand from those who have longed to be able to take a break overseas.

Dickson Ng, a 24-year-old consultant based in Singapore, said he plans to travel to Europe in January.

"We don't know if these VTLs (vaccinated travel lanes) could be rescinded, right now there's opportunity and there's COVID fatigue, so I think getting out of the country will be a good thing," he said.

Meanwhile Fiji Airways has had thousands of bookings since the country on Sunday announced it would open borders to vaccinated travellers from some destinations on Dec. 1, the vast majority from Australians, an airline spokesperson said.


Some carriers are already promoting bargain fares.

Vietnamese low-cost carrier VietJet is offering some free domestic one-way tickets, excluding taxes and fees, while Malaysia's AirAsia has fares as low as 12 ringgit ($2.88) as it ramps up flights.

AirAsia said traffic to its mobile app had surged by more than 140% since the government relaxed domestic travel rules.

But Singapore has capped the number of arrivals under its VTL programme at 3,000 a day in total, a tiny fraction of pre-pandemic traffic - a move that has kept ticket prices higher.

Singapore tour agency Chan Brothers Travel said enquiries had increased 50-fold in the last week since VTLs were added to more countries including South Korea, the United States and Britain.

Return economy-class fares from Singapore to South Korea have nearly doubled to around S$1500 ($1,107.50) from S$800 previously, a spokesperson at Singapore's Dynasty Travel said.

"Some travellers may wait for the initial price surge for flights to pass, but we can expect quite a number of travellers taking to the skies by the first half of 2022," she said.

($1 = 4.1630 ringgit)

($1 = 1.3544 Singapore dollars)

(Reporting by Jamie Freed and Aradhana Aravindan; Additional reporting by Liz Lee in Kuala Lumpur and Chen Lin in Singapore; Editing by Kenneth Maxwell)

By Jamie Freed and Aradhana Aravindan

ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AIRASIA GROUP BERHAD -4.17% 0.805 End-of-day quote.-9.04%
QANTAS AIRWAYS LIMITED 0.40% 4.98 End-of-day quote.2.68%
SINGAPORE AIRLINES LIMITED 0.21% 4.88 End-of-day quote.14.02%
VIETJET AVIATION JOINT STOCK COMPANY 0.08% 120500 End-of-day quote.-3.60%
03:22aAIRASIA BERHAD : Philippines expands commercial flights, restarts Hong Kong route
12/05AIRASIA BERHAD : Academy collaborates with Malaysia Red Crescent to make volunteer work mo..
12/04AIRASIA BERHAD : Philippines resumes Regional Flights, launches inaugural flight to Singap..
12/04AIRASIA BERHAD : Indonesia Domestic and International Travel Requirements During COVID-19 ..
12/03AIRASIA BERHAD : celebrates its 20th birthday with amazing sales on the Super App!
12/03AIRASIA BERHAD : Indonesia Domestic and International Travel Requirements During COVID-19 ..
12/02AIRASIA BERHAD : ride collaborates with Carsome to provide unbeatable deals for drivers to..
12/02AIRASIA BERHAD : Important Relevant Dates For Renounceable Rights (Amended Announcement)
12/02AIRASIA BERHAD : Notice Of Rights Entitlement
12/02AIRASIA BERHAD : Renounceable Rights Issue Of RM974,513,219.25 In Nominal Value Of 7-Year ..
More news
Analyst Recommendations on AIRASIA GROUP BERHAD
More recommendations
Sales 2021 1 332 M 315 M 315 M
Net income 2021 -2 596 M -614 M -614 M
Net Debt 2021 14 474 M 3 423 M 3 423 M
P/E ratio 2021 -1,22x
Yield 2021 -
Capitalization 3 138 M 741 M 742 M
EV / Sales 2021 13,2x
EV / Sales 2022 2,30x
Nbr of Employees 21 059
Free-Float 60,7%
Duration : Period :
AirAsia Group Berhad Technical Analysis Chart | AIRASIA | MYL5099OO006 | MarketScreener
Technical analysis trends AIRASIA GROUP BERHAD
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus UNDERPERFORM
Number of Analysts 18
Last Close Price 0,81 MYR
Average target price 0,89 MYR
Spread / Average Target 10,6%
EPS Revisions
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
Sector and Competitors