AirAsia, AirAsia X shares continue plunge after CEO, chairman step aside

Publish date: Tue, 04 Feb 2020, 10:36 AM

KUALA LUMPUR: Shares of budget airline AirAsia Group and its long-haul subsidiary, AirAsia X , fell in early trade on Tuesday after the group's CEO Tan Sri Tony Fernandes and chairman Datuk Kamarudin Meranun said they would step aside for two months.

Both Fernandes and Kamarudin announced late on Monday that they would step aside as authorities investigate allegations that Airbus had paid a bribe of US$50 million (RM252 million) to win plane orders from AirAsia.

AirAsia Group's shares fell 5 per cent as markets opened in Kuala Lumpur, while AirAsia X shares lost 8 per cent.

On Monday, AirAsia shares fell as much as 11 per cent to RM1.27 - their lowest since May 2016; while those of AirAsia X tanked 12 per cent to their all-time low of 11.5 sen. 


 - Reuters

Labels: CAPITALAAAX

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InvestWin

To TF : Go see Tun Mahathir and offer lowest price to merge with Malaysia Airline. Have a new brand e.g Malaysia-Airasia Berhad to break away from current curse. Restart with new brand name to save yourself and all Malaysian.Put away your ego. I am sure Tun M will help for benefits of all.

2020-02-04 16:12

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