KUALA LUMPUR, April 17 — The share price of AirAsia Group Bhd (AAGB) declined one sen to RM3.92 despite the completion of its internal reorganisation plan.

Under the plan, AirAsia Bhd (AAB) had undertaken an internal reorganisation that entailed a transfer of its listing to AirAsia Group Bhd.

Consequently, AAB is now a wholly-owned subsidiary of AAGB.

At 11.41 am, 2.31 million shares of AAGB changed hands.

Meanwhile, AirAsia X Bhd’s share price rose 1.5 sen to 40.5 sen, with 57.25 million transacted.

Public Investment Bank Bhd reiterated a "neutral” call with target price of 38 sen after AirAsia X co-group Chief Executive Officer, Tony Fernandes said he would not incorporate an Airbus A350 into the carrier's fleet despite the airline having 10 of them on order.

"The A350 is not an aircraft we will buy...too expensive. Fares would go up,” he was quoted as saying.

AirAsia X, the long-haul arm of AirAsia, placed a firm order for 10 A350s in June 2009 and later ordered 66 A330neos, an updated version of the A330s for its current fleet.

The A350-900 has a longer range, but also comes with a higher price tag of US$317.4 million (RM1.23 billion), compared with the US$296.4 million for the A330-900neo. — Bernama