My Account Menu

CAPA Login


Register to trial CAPA Membership!

Air China traffic up 16%, Philippine Airlines' share slide continues

13-Jan-2011

Air China reported traffic for 2010 rose 16.1% year-on-year to 46.2 million. Domestic traffic rose 14.7% to 38.3 million, while international traffic rose 20.1%. Average load factors were 80.3%, 3.4 ppts higher than in 2010. Dec-2010 traffic was up 8.8% year-on-year to 3.5 million.

Shares in Air China rose 3.4%, with other mainland Chinese carriers generally up as well. Hainan Airlines was up 1.8%, along with China Southern (+1.7%), China Eastern (+1%) and Shandong Airlines (0.7%). Cathay Pacific shares rose 0.9%.

Also in North Asia, shares in Korean and Taiwan-based carriers eased. China Airlines fell 0.8% while EVA Airways and Korean Air were down 0.4%. Asiana Airlines proved the exception, up 0.5%.

Philippine Airlines' share weakness continued, with the carrier’s stock plummeting 6.1%. The carrier announced earlier this week it would oppose a Labour Ministry order increasing the pay of PAL cabin crew and raising the minimum retirement age to 50.

Shares in Malaysian LCC AirAsia were up 5.9%.

Selected Asia Pacific airlines daily share price movements (% change): 12-Jan-2011

APAD


Want more analysis like this? CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find out more and take a free trial.