AirAsia, AirAsia X shares continue plunge after CEO, chairman step aside

NSTbusiness: AirAsia Group’s shares fell 5 per cent as markets opened in Kuala Lumpur, while AirAsiaX shares lost 8 per cent.

Both Fernandes and Kamarudin announced late on Monday that they would step aside as authorities investigate allegations that Airbus had paid a bribe of US$50 million to win plane orders from AirAsia.

AirAsia Group’s shares fell 5 per cent as markets opened in Kuala Lumpur, while AirAsia X shares lost 8 per cent. On Monday, AirAsia shares fell as much as 11 per cent to RM1.27 - their lowest since May 2016; while those of AirAsia X tanked 12 per cent to their all-time low of 11.5 sen. - Reuters

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