Thursday, August 11, 2011

AirAsia remains a 'sell': UOB-Kay Hian

AirAsia Bhd, the region’s biggest listed budget carrier, fell to a six-week low in Kuala Lumpur trading amid continuing concern over a planned share swap with national carrier Malaysian Airline System Bhd.

Its shares fell 4.8 per cent to RM3.37 at 9:07 a.m. local time, after dropping 10.4 per cent yesterday.

UOB-Kay Hian Holdings Ltd maintained its “sell” call, saying in a report today that collaboration with Malaysian Air may dilute its market niche. -- Bloomberg

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