Malaysia’s aviation industry was downgraded to “neutral” from “overweight’ at ECM Libra Capital Sdn Bhd, which said this is to reflect rising fuel costs.

Malaysian Airline System Bhd’s share estimate was cut to RM2.38 from RM2.95, ECM Libra analyst Azida Nor- Azizi said in a report today.

AirAsia Bhd’s share estimate was reduced to RM3.65 from RM4.15, the report said. -- Bloomberg