AirAsia X Bhd. co-founder Tony Fernandes said he’s preparing to launch a new airline, betting that expanding while the aviation industry’s being roiled by high oil prices will pay off in the future.

The new airline will be announced in the next month or two, Fernandes said in a video interview from Montreal late Wednesday. The low-cost Southeast Asian carrier group is moving some planes for the business it’s starting, he said, without providing further details.