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KUALA LUMPUR (Dec 9): Airsia X Bhd (AAX) and AirAsia Group Bhd jumped into active trading this morning after AirAsia announced that it will likely get final approval for its loan business, BigPay, for the ending first quarter on March 31, 2021..
At 11:42 am, AAX’s shares were up 42.86% or three sen to 10 sen, valuing the shares at RM418.81 million. Some 908.04 million shares were traded, nearly 28 times its 200-day average volume of 32.59 million. The stock was the most traded stock at the time of writing.
Meanwhile, shares in AirAsia, the third largest active stock, rose 5.68% or five sen to 93 sen, with a market value of RM3.09 billion. The stock saw 131.87 million shares change hands, topping its 200-day average volume of 41.57 million.
The group said yesterday that it already received provisional approval from the Ministry of Housing and Local Government in mid-November to grant loans online under a community credit license.
Additionally, AirAsia also confirmed that it was exploring opportunities for a local airline presence in IndoChina, as recently mentioned in its Q3 earnings press release.
A Bloomberg report on Monday quoted AirAsia CEO Tan Sri Tony Fernandes as saying that air travel was expected to return to pre-Covid-19 levels in the next six to 12 months.
In the same report, he also said that AAX was more of a medium-haul than a long-haul airline, and that it had a good future.
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