KUALA LUMPUR (Sept 11): Year 2018 will be a huge year for long haul low-cost carrier AirAsia X (AAX), said AirAsia Bhd group chief executive officer Tan Sri Tony Fernandes said via his Twitter account this morning.

Fernandes said this morning that AAX has been the “most undervalued airline stock in the world, just like AirAsia was”, and its profit is set to grow.

“Investors are (in) the beginning of seeing value. Long way to go growth stock, annual dividends and special dividends,” Fernandes explained.

He cited cost reduction, increased utilisation, increased country focus, growth in ancillary income and the cull of loss-making routes amongst measures to be taken.

For that, he added AAX will leverage on its strength in Asia with “three great airlines — Kuala Lumpur, Bangkok and Bali”.

As at 10.56am today, AAX rose 0.5 sen to 37.5 sen, with some 3.48 million shares exchanging hands for a market capitalisation of RM1.56 billion.

The counter has been trading between the 52-week range of 35 sen and 55 sen.

http://www.theedgemarkets.com/article/aax-most-undervalued-airline-stock-worldwide-says-tony-fernandes