AirAsia Shares Slump to Five-Year Low on Indonesia Deadline
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AirAsia Bhd., the region’s biggest budget airline, plunged to its lowest level in five years in Kuala Lumpur trading after Indonesia’s government gave the company’s local affiliate a deadline to have a positive equity position.
The stock closed down 12.8 percent at 1.30 ringgit Wednesday, after falling as much as 15.4 percent earlier in the day. The shares have dropped 52 percent this year.