AirAsia - Raising Fuel Surcharge By 30-50%

AirAsia – Raising Fuel Surcharge By 30-50%                     Market Perform

News Update

¨       AirAsia has raised its fuel surcharge by 30-50% to “offset the constant high jet fuel prices which has been trading at an average of US$136/bbl in Mar 2012”.

¨       AirAsia expects to recoup an additional US$5/bbl of the fuel bill with the fuel surcharge hikes.

¨       Fair value is RM3.72.  Maintain Market Perform.
Source: RHB Research - 28 March 2012