By Stella Goh

After Russia announced the registration of the world’s first coronavirus vaccine, investors expect to defeat the coronavirus. It has caused a sharp drop in the share price for gloves counters but for tourism and aviation related stocks rally based on the vaccine hopes.

AirAsia secures RM1 billion financing

AirAsia was forced to shut down its operations for almost a month in April due to Covid-19 pandemic. The LCC resumed its operation in May by flying mainly domestic routes. The passenger bookings, flight frequencies and load factors are gradually improving. However, the fleet of 245 planes are still under-utilized as it is mainly servicing for domestic routes. The domestic travel is said to be back at 90% capacity but the airline is unable to make up for the traffic as the AirAsia enjoyed pre-coronavirus period if it does not fly outside of Malaysia.

According to the sources of consortium of local banks, they have put together the financing package that LCC can withdraw overtime. It will seek a guarantee from Danajamin for 80% of the loan. The drawdown on the loan is contingent upon AirAsia flying to the international destinations. The money should be enough for AirAsia to tide over the turbulent times that the airline industry is going through due to the Coronavirus pandemic and it may help it through next year.

AirAsia partners with JIFFY.ai to accelerate digital transformation

AirAsia is collaborating with the US-based and India-based JIFFY.ai to accelerate the budget of airline’s digital transformation via Robotic Process Automation (RPA) which began in May2020. The implementation leverages JIFFY.ai Artificial Intelligence (AI)-enabled automation platform, which brings intelligence automation, intelligent document processing and analytics together in a single solution.

The pioneering RPA projects are identified through AirAsia Group’s CEKAP framework, which is designed to facilitate the innovation and promote efficiency internally. Among the departments identified to-date include AirAsia Global Shared Services, which experts to achieve significant costs savings and efficiency gains within 180 days of RPA adoption.

AirAsia’s latest key milestones in digital transformation journey include the implementation of end-to-end contactless procedures in May 2020 to facilitate the essential travel. These procedures include contactless payment kiosks, enhanced features on AirAsia mobile apps and contactless kiosks in all operating airports across Malaysia, Thailand, Philippines, Indonesia and Japan.

AirAsia’s Teleport to launch campaign to support East Malaysia merchants

AirAsia’s Teleport is launching new “Shop Sama Kamek” campaign to support more East Malaysia merchants to ell food items online on their OURSHOP, the e-commerce site for AirAsia in September. The campaign is held in conjunction with the government’s Short-Term Economic Recovery Plan (PENJANA) Micro and SMEs (MSMEs) E-Commerce Campaign that was rolled out in June by the Malaysia Digital Economy Corporation (MDEC). OURSHOP will recruit 300 merchants from small and medium enterprises in East Malaysia ranging from food categories of fresh, frozen and packaged food.

AirAsia has received approval from the government for a grant to initiate the cross-border delivery, marketing efforts and training for merchants in order to fulfill the campaign needs and revive the local economy. The campaign will not only promote products by East Malaysian merchants direct to consumers but also raise awareness on the ease and affordability to order fresh, frozen or packaged food from East Malaysia to Klang Valley. The company also announced selected merchants registering with Teleport will be auto-enrolling into a specialized development programme by RedBeat Academy called “BINA Digital” to help enhance in skills and certify merchants to prepare them to customers in other part of Malaysia and regionally.

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