Malaysia's AirAsia X lowers fares by 5% as jet fuel prices fall

Malaysia's low-cost carrier AirAsia X has cut fares by 5% since June 15 as jet fuel prices declined, CEO Bo Lingam said. He added that easing tensions in the Middle East following an initial US-Iran peace deal had provided much-needed relief to the aviation industry. Singapore jet fuel was trading at $112 per barrel on Friday after recent price declines.