(March 10): Low-cost carrier AirAsia X Bhd (KL:AAX) is paying a steep price for its wrong-way bet on jet fuel. Management’s decision not to hedge when oil was cheap has backfired after the Iran war, and the company is now the worst-performing airline stock in the world. The stock rebounded around 13% on Tuesday after oil prices retreated from an earlier spike. The epicentre of the war is far away from AirAsia X, but the ripple effects on the industry are being felt globally. AirAsia X now consists of all aviation businesses from parent Capital A Bhd (KL:CAPITALA), merging the carrier’s short- and long-haul operations.

Source: The Edge Markets March 10, 2026 04:39 UTC