Saturday, March 20, 2010

AirAsia downgraded to 'sell'

15 March 2010

Kuala Lumpur: AirAsia Bhd, Southeast Asia's biggest budget carrier, was downgraded to "sell" from "hold" at Maybank Investment Bank Bhd, which said slower profit growth may prompt write-offs.

The share price estimate for the stock was reduced to RM1.15 from RM1.33, Maybank Investment said in a report Monday.

The shares of the airline dropped 2.3 per cent to RM1.30 at midday close, set for the lowest close since December 9.

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