Tony Fernandes on AirAsia: Oil price makes it easier for me to drive change

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KUALA LUMPUR (Sept 13): AirAsia Group Bhd group chief executive officer Tan Sri Tony Fernandes said today that the budget airline's planned consolidation will tackle complexity, duplicity and hidden cost within the group, as it builds market share.

Fernandes said via Twitter that current oil prices offer a great opportunity for AirAsia as it builds market share.

"Our one AirAsia consolidation is going to take a lot of complexity, duplicity and hidden costs. Oil price makes it easier for me to drive change. Data and digitalisation [are] really beginning to take off.

"These are very exciting times for AirAsia. With high oil [prices], the market is shrinking and behaving so rationally. Great opportunity for us, as we build market share."

Across crude oil markets today, Reuters reported U.S. West Texas Intermediate crude futures were traded at US$69.91 per barrel at 0220 GMT. Brent crude futures were transacted at US$79.36 a barrel.