AAX active, down 8.93% on being named among worst performers in late arrivals

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KUALA LUMPUR (Jan 8): Shares of AirAsia X Bhd (AAX) fell as much as 8.93% in an active trade this morning, after revelations that it was among the worst six carriers in terms of late arrivals last year.

As at 11.40am, the stock was trading down 2 sen or 6.56% at 28.5 sen after 38.32 million shares exchanged hands.

On Jan 5, Bloomberg reported that AAX was among the worst six performers last year for arrivals 15 minutes beyond the advertised time, according to flight-scheduling specialist OAG.

The rankings show the challenges in applying the no-frills model that has thrived on short-haul routes to the more complex inter-continental market.

"Discount specialists lack the mammoth hubs of their full-service rivals, leaving them with fewer resources to fall back on when things go wrong," Bloomberg said.