Malaysia's PM told parliament no financial support deal exists yet for AirAsia, whose shares fell as much as 5.5% to a near four-year low. AirAsia has no fuel hedging, posted losses for two straight quarters, and is restructuring US$1bn of debt. For Thai SMEs, the signal is that fuel-driven cost pressure is hitting regional carriers hard. Expect pricier air freight and travel, and watch for fare or route changes on budget flights. No direct action needed.