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AirAsia, AirAsia X shares up on possibe route recalibration

January 12, 2018 4:58 AM
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Tan Sri Tony Fernandes speaks to the media in Kuala Lumpur June 28, 2016. ― Picture by Saw Siow FengKUALA LUMPUR, Jan 12 — The shares of budget airline AirAsia and its long-haul affiliate, AirAsia X, were up in the morning session today.

It comes on the back of a series of tweets by AirAsia Bhd’s Group Chief Executive, Tan Sri Tony Fernandes, hinting at a positive route recalibration involving both airlines.

At 11.03am, AirAsia shares perked seven sen to RM3.84 with 3.82 million shares changing hands, while AirAsia X shares improved half-a-sen to 38.5 sen with 7.47 million shares transacted.

Fernandes, in his tweet, said AirAsia would be transferring routes that are over four hours to AirAsia X as AirAsia has matured and can use the capacity for the more profitable shorter haul routes.

He also tweeted his prediction that this year would be good for AirAsia X with a further route reallocation and reduction in costs.

“Cleaning up the balance sheet in AirAsia X as we started the fourth quarter. 2018 looking good,” he said.

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Source: themalaymailonline.com

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