AirAsia plans share buy-back

Price recovery: A file picture shows AirAsia aircraft parking on the tarmac at KLIA2. The airline’s share lost more than half its market value year-to-date to 78 sen on Aug 26. It remained under RM1 for almost two weeks before closing at RM1.31 yesterday. – AFP

PETALING JAYA: AirAsia Bhd is proposing a share buy-back of up to 10% of its issued and paid-up share capital at an upcoming EGM to stabilise its share price which is recovering from a sell-down.

“The proposed share buy-back is to stabilise the market price, stop speculation of the shares and enhance investor confidence.