AirAsia has a valuation problem.
The Malaysian company saw its stock soar at the start of the year. Investors flocked to the company’s shares in January, ahead of a full-year profit announcement that saw the company earn RM2.03 billion $470 million after tax, a jump of around 275% compared to 2015. A share price fall after weaker first quarter profits turned out to be a temporary blip, and the stock is now up more than 40% on the year.
But despite the rally, AirAsia still trades at much lower multiples than its rivals around the world. The company was trading at RM3.32 on...
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