AirAsia X gains 5.3% on plans to fly to US, Europe route resumption

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KUALA LUMPUR (Dec 16): AirAsia X Bhd shares surged as much as 5.3% after the media reported that Asia's best budget long-haul airline planned to fly to the United States and resume its Europe route.

At the midday break, the stock was traded at 39.5 sen, up 1.5 sen or 3.95%, after hitting a high of 40 sen earlier in the trading day.

A total of 24.56 million shares changed hands between 37.5 sen and 40 sen, making it the third most active stock on the exchange this morning.

At the current price of 39.5 sen, AirAsia X has a market value of RM1.57 billion.

Meanwhile, its warrant AAX-C3 was also actively traded, registering a volume of 10.42 million units.

Earlier, its sister company — AirAsia Bhd — managed to lost ground. At 12.30pm, it fell three sen to settle at RM2.53, after sliding to a low of RM2.49, for a market value of RM6.96 billion.

The Wall Street Journal (WSJ) had reported that AirAsia X will begin flying to Hawaii in the first half of next year and also speed up the resumption of European flights.

Quoting an airline spokesman, WSJ reported that the group had initially targeted an earlier start date to link Kuala Lumpur with Honolulu via a refuelling stop in Osaka, Japan, but had to push back the start date as it awaits approval from the US Federal Aviation Administration.

"AirAsia X also plans to resume flights to Europe once it takes delivery of the new Airbus Group SE A330neo planes in 2018, and said it plans to fly its new Airbus," the report said.