KUALA LUMPUR – AirAsia Bhd emerged among the top three most active stock this morning on Bursa Malaysia after the low-cost carrier anounced that a cost savings of US$160 million was expected next year.
The group expected the savings to arise from weakening crude oil prices as the airline’s hedging tenure would end this year.
Meanwhile, India’s Tata Group announced that it had increased its stake in AirAsia India to 41 per cent from the current 30 per cent.
Tata said the board of the airline, in which AirAsia Bhd owned a 49 per cent equity, approved the change in equity structure last Friday.
As of lunch break, the low-cost airline’s share price was up one sen to RM1.10 with 21.36 million shares changing hands. – BERNAMA