AirAsia drops as Malaysia says it hasn't agreed to financial aid

AirAsia Group Bhd. sank to its lowest level in nearly four years after Malaysia’s prime minister said the government has not agreed to provide financial support. In a written reply to Parliament late Monday, Prime Minister Datuk Seri Anwar Ibrahim—also finance minister—said there is currently no agreement or commitment for help to AirAsia, whether via guarantees, loans, or public funds injections. Shares fell as much as 5.5% to the lowest intraday point since November 2022, and the stock is down 75% this year, the weakest in the Bloomberg World Airlines Index. Any request for aid would be assessed against national interest and public finances. The move follows heightened scrutiny as Iran-linked pressures coincide with two straight quarterly losses.