AirAsia X shares accessible to Gen-Y

KUALA LUMPUR, (MLP) - AirAsia X shares rose to 1.60 per cent at the opening of trading, 9.00am this morning on the Main Market of Bursa Malaysia Securities Berhad (Bursa Malaysia). The carrier was trading at RM1.27, a rise from an initial valuation of RM1.25 and the company has raised RM740.7 million in proceeds based on the IPO price. Dato’ Tajuddin Atan, Chief Executive Office of Bursa Malaysia Berhad commends AirAsia X on being part of Malaysian’s retail participation in the capital market, with the first of its kind retail roadshow and shareholders’ benefit program. “We need to be where our brand is the strongest. Consumers choose to fly in our planes and AirAsia X is a product they can trust,” Chief Executive Azran Osman-Rani answers as to why AirAsia X has chosen to open in Bursa Malaysia and not in their other operating countries. Azran adds that the airline shares are also accessible to young investors such as the Gen-Y because with the internet, it is easy for them to access information on investment and even engage with AirAsia X’s key management. “Gen-Y will know investment like how they consume travel, through recommendations on the internet and via social media. We make ourselves accessible through retail network and the social media. You can tweet us via Twitter or talk to us through Facebook.” Azran says that AirAsia X would use the primary proceeds for different purposes including capital expenditure on acquiring engineering and air-craft related parts, expansion of the company, repayment of bank borrowings and last but not least; working capital and listing expenses.