AirAsia X gains 6% on European route revival plans

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KUALA LUMPUR (Mar 12): AirAsia X Bhd rose as much as three sen or 6% on news the company plans to resume flights to Europe next year.

Long-haul budget airline AirAsia X (fundamental: 0; valuation: 0.3) shares rose to an intraday high of 52 sen before reducing gains.

At 2.46pm, the stock was traded at 51 sen with some 14 million shares transacted. At 51 sen, AirAsia X has a market capitalisation of RM1.21 billion.

Reuters quoted AirAsia Bhd chief executive Tan Sri Tony Fernandes as saying today that AirAsia X planned to resume flights to Europe next year.

Speaking to reporters in Sydney about the carrier's operations, Fernandes said that London will be the likely first destination for AirAsia X flights. It previously operated Airbus A340s to London and Paris, but cancelled those services in 2012.

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