SUBANG, Malaysia (AP) — New low-cost Malaysian carrier, SKS Airways, took to the skies Tuesday with short-haul flights to holiday island resorts as domestic travel rebounds after months of lockdown due to the COVID-19 pandemic last year.
SKS launched its maiden flight from the smaller Subang airport near Kuala Lumpur to Pangkor, a northern tax-free island, becoming the first carrier to fly there. It will also fly to northeastern Redang island, a popular scuba-diving haven, and southern Tioman island using 19-seater Twin Otter turboprop aircraft. There are currently no commercial flights to these islands.
The launch comes even as other airlines in the country, including the region’s budget carrier AirAsia, are still struggling to ride out the effects of the pandemic.
“As a new set-up, we are nimble, agile and flexible and able to tap into any opportunities that arise. We are positioning ourselves to capitalize on the current pent-up demand for domestic travel,” SKS Airways director Rohman Ahmad said at the launch.
SKS Airways is owned by the SKS Group, a real estate company based in southern Johor state. The airline said its operations will initially focus on island and coastal resorts with connections to major cities within peninsular Malaysia.
Rohman said SKS aims to expand regionally to Southeast Asia and southern China in the long-run.
Transport Minister Wee Ka Siong said the launch of SKS will bolster domestic tourism. He said Malaysian airports have seen an increase in passengers following the progressive reopening of the country’s borders.
Wee said Malaysia recorded only 11 million air passenger traffic last year, with the numbers picking up in the last two months of 2021. He said air passenger traffic is forecast to rise as much as 45% this year from pre-pandemic figure of nearly 120 million in 2019.
7 Precious Metals Stocks That Will Offset the Effects of Inflation
There’s no getting around it. Inflation is going to be an unwelcome guest at our holiday gatherings this year. Estimates say this will be the most expensive Thanksgiving dinner in years. The Consumer Price Index (CPI) jumped 6.2% in October. That was the biggest surge in 30 years.
But the latest inflation data only confirmed what investors already knew. At least the ones that put gas in their cars or buy groceries. And yet, Washington continues to advocate even more spending. The latest “skinny” infrastructure bill will still pump over $1 trillion (that’s trillion with a “T”) into the economy. Even economists who would usually be favorably disposed to the current administration acknowledge that this will only cause inflation to increase.
That means it’s a good time to consider investing in precious metals which are considered to be safe-haven assets and a hedge against inflation. But that’s not the only reason to consider precious metals. You can also get some nice growth. Gold, for example, is up more than 300% in the past 15 years. And we would certainly advocate that you consider owning a bit of physical metals if you can.
However, buying precious metals stocks gives you exposure to many mining companies. As the spot price for the metals rises, it becomes more profitable for these companies to run their mining operations.
View the “7 Precious Metals Stocks That Will Offset the Effects of Inflation”.