AirAsia, AAX in focus on being named best low-cost airlines

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KUALA LUMPUR (Nov 14): Shares in low-cost carriers AirAsia Group Bhd and AirAsia X Bhd (AAX) rose in the morning session today after they were rated the best low-cost airlines in the Asia-Pacific region by AirlineRatings.com.

At 11.56am, AirAsia Group rose 7.12% or 19 sen to RM2.86 with 8.91 million shares done while AAX gained 4.08% or 1 sen to 25.5 sen with 33.21 million shares traded.

Shares in the airlines were also in focus today as crude oil prices continued to struggle for traction on weakening global demand and oversupply concerns.

US crude futures dived 7% the previous day, suffering their biggest one-day loss in more than three years. The contracts last stood at US$55.38 per barrel for a loss of 0.55%, following a descent to a one-year low of US$54.75 overnight, according to Reuters.