BEIJING, Dec. 31 (Xinhuanet) -- AirAsia's share price dropped sharply following the disappearance of its affiliated Indonesia AirAsia's Flight QZ8501.
AirAsia's stock price fell 8.5 percent to 2.69 Ringgit per share Tuesday — the biggest daily fall since September 2011.
The company's share price has increased more than 22 percent this year and reached its highest level for 52 weeks last Friday. Analysts said the disappearance of the plane may impact AirAsia's short-term passenger growth and earnings may also come under pressure.
Such problems are mainly because of the air tragedy rather than any changes in the group's fundamentals, which remain intact with long-term potential growth prospects and low-cost competitive advantage.
(Source: CNTV.cn)
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