AirAsia's Tony Fernandes Warns Airline Fuel Costs Will Jump as Hedges Expire

AirAsia co-founder Tony Fernandes warned that airline fuel costs will "go up dramatically" over the next 12 months as carriers' hedges expire. Asian jet fuel is trading at just over double last year's average, per IATA, and AirAsia shares are down almost 75% this year as it plans to raise $1 billion for debt refinancing. Fernandes also said the next travel boom will target secondary cities, with AirAsia launching a 160-seat A220 version.