AirAsia falls further amid fresh accounting-method concerns

Kuala Lumpur

SHARES of AirAsia continued to come under selling pressure on Tuesday amid concerns its accounting treatment might be misleading even as the budget airline's founder, Tony Fernandes, took to assuring investors such misgivings were unfounded.

Having plummeted by about 16 per cent since a report last Friday by Hong Kong-based GMT Research questioned whether AirAsia had understated the losses of its associate companies, the carrier's shares slipped 8 per cent to RM1.64 on Tuesday after another analyst raised similar concerns.