Malaysian airline reduces fares after drop in jet fuel prices AirAsia X Chief Executive Officer Benyamin Ismail, said the Malaysian budget carrier has reduced fares by 5 percent since 15 June and plans to continue adjusting ticket prices as jet fuel costs decline. Lingam said the US-Iran memorandum of understanding had brought welcome relief to the aviation sector, with fuel prices falling significantly from the highs reached during the conflict. "The industry has been really affected by the rise in fuel prices.