Tony Fernandes (co-founder of AirAsia X Bhd.) is gearing up to announce a new airline within the next one to two months, indicating a bold expansion strategy despite the current challenges in the aviation industry, particularly high oil prices. In a recent video interview from Montreal, Fernandes mentioned that the airline group is reallocating aircraft for the new venture, although specific operational details were not disclosed. This initiative follows AirAsia's substantial multibillion-dollar order for 150 Airbus SE A220 jets, which Canadian Prime Minister Mark Carney described as the largest purchase of Canadian-made commercial planes. Fernandes emphasized the need to seize opportunities during crises, stating, “Why waste a crisis? There are opportunities in a crisis.” Despite facing financial pressures and a 35% drop in share prices since the onset of the Iran conflict, AirAsia remains committed to its strategy of not hedging fuel costs. To support its expansion, the company is preparing a bond sale of up to $600 million and is negotiating a refinancing package with Malaysian banks. Additionally, AirAsia is exploring expansion into Vietnam and has announced plans to start flights from Bahrain, with aspirations to establish a local unit in the Gulf nation.