Research house expects zero share price for AirAsia X

Ragananthini Vethasalam

Long-haul budget carrier AirAsia X Berhad’s share price is expected to dip to zero after recording its biggest quarterly net loss yet. – The Malaysian Insight file pic, July 31, 2020.

A RESEARCH house has cut the Target Price (TP) for AirAsia X Berhad’s (AAX) share to zero after the long-haul budget carrier recorded its biggest ever quarterly net loss.

CGS-CIMB Equities Research, in maintaining a reduced rating on the stock, said in a note today that the airline group’s net liability position prompted the cut of the target price from 7 sen to zero.

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