Airline and retails stock fall as lockdown in capital begins

Shares of Asia Aviation (AAV) fell around 4 per cent on Monday after the low-budget airline announced the suspension for all domestic air travel until July 31 to comply with the government’s order to help contain the spread of Covid-19.

AVV declined by 3.62 percent to 2.66 baht when the trading began, then settled at 2.68 baht as of 11 am, still down 2.90 per cent.

Bangkok Airways (BA) shares also dropped by 4.27 per cent to 11.20 baht. Some of its domestic flights, including those from Bangkok to Chaing Mai and Phuket, have been temporarily canceled till the end of July.

In the past weekend, the Civil Aviation Authority of Thailand (CAAT) has halted air transportation from 9 pm to 4 am following the government’s latest restrictions.

The suspension came into effect on Monday and airlines must rigorously adhere to social distancing procedures when allocating seats to passengers, the CAAT said.

Despite certain flight suspensions, low-fare Thai Vietjet and Nok Airline said they will continue to provide services for customers that need to travel as well as medical supplies and equipment transportation.

Central Retail Corporation (CRC)

The country’s leading retailer, Central Retail Corporation (CRC), also saw a small adverse effect from the lockdown order. Its shares fell by 2.24 per cent to 32.75 baht as of 11 am.

The company announced that the Central Department Store in Bangkok and surrounding areas, including in Songkhla, will be closed from Monday until further notice.

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