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AirAsia CEO says the company is prepared to face slowdown in the aviation market: Report
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
AirAsia is prepared for an inevitable slowdown in the aviation market due to trade tensions, rising fuel prices and volatile currencies, the company CEO Tony Fernandes told CNBC. The slowdown in the market is inevitable with trade sanctions and depreciation of currencies in emerging markets, accroding to Fernandes. Fernandes said as of now AirAsia hasn’t …
AirAsia is prepared for an inevitable slowdown in the aviation market due to trade tensions, rising fuel prices and volatile currencies, the company CEO Tony Fernandes told CNBC.
The slowdown in the market is inevitable with trade sanctions and depreciation of currencies in emerging markets, accroding to Fernandes.
Fernandes said as of now AirAsia hasn’t seen an impact, but the the company is ready to weather any potential storm, as geopolitical developments such as the US-China trade war, the report said.
“We’ve been through a few of these cycles. Don’t forget oil was $130 at one stage. Generally, we’re a little bit inelastic in demand when it comes to recessions because people will trade down to a low-cost carrier from a premium airline if things slow down,” he told CNBC.
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