Air Asia keeping my money for 3-4 months

I'm just curious!
On the first of March this year, Air Asia informed me that they have suspended the flight that I booked a month earlier.
Now, almost 4 months later they say that the money will be back in my account next month.
Is this really according to the law? In Europe, where I come from, I guess this wouldn't be possible.
Can I fight them?

Kindly,

My advice is for you to read first about Air Asia's policies on refund.

They don't have any policy about that!
I'm from Europe so I'm surprised to see how companies here can do whatever they want.
In my part of the world I'd been making money out of this behaviour of a company!

It's now 6 months since they suspended one flight that I'd paid for, and two weeks later another flight was suspended.
The clever thing for Air Asia is, that there's no way to contact anybody with authority. Only live chat or twitter. So I'm still on square one - nobody is answering anything with substance!
Utterly boring situation!
I'm just bumping my head against the wall (the wall that Air Asia put there, knowing that it will save money for the company).