Air Asia still under high risk.
1. Airline stock is high risk, because high capital requirement, volatile and competitive market, protectionism, publicity etc.
2. AA balance sheet  not so strong, cash generated just enough to cover capital commitment.
3. Share just diluted with private placement.
4. Thai associate co still making loss.
5. Big order of A320, where to deploy etc, cannot park and let it rust, right?
and so on and so on...

But I still hold and looking into addition if price drop... high risk high return...
Personal opinion only...