You are here

Air Asia X shares take a beating on news of wage-bill woes

Intense competition first sent AAX into the red in FY2013; its first half 2014 loss was RM140m

The largest shareholder in AirAsia X is Tune Ventures, a private firm comprising Tony Fernandes, the founder of AAX's sister budget airline AirAsia, and his business partners.

Kuala Lumpur

MALAYSIA'S long-haul budget carrier Air Asia X (AAX) was one of the most heavily-traded stocks on the Kuala Lumpur stock exchange on Tuesday, declining 6 per cent to RM0.70 apiece on news that the carrier was having trouble meeting its wage bills.

The Edge Financial