AirAsia reports solid traffic figures, but shares fall on Monday
AirAsia's shares slumped 4.1% yesterday, reflecting foreign selling of the stock, according to analysts cited by Bloomberg.
The carrier yesterday revealed the AirAsia Group (representing its Malaysia, Thai and Indonesian units) reported a 13.1% increase in passenger numbers in 2010 to 25.7 million, while load factor rose 3ppts to 78% as capacity, measured by seats flown, increased by 9.2%.
The group's average stage length rose 6.9% to 1176 km and its fleet rose by six to 90 aircraft at year-end.
Dec-2010 was a particularly strong month. The Malaysia, Thai and Indonesian units reporting passenger number increases of 9.9%, 14.6% and 10.4%, respectively.
Elsewhere, Virgin Blue's shares eased a further 2.3%, while Cebu Pacific lost 1.8%.
Selected LCCs' daily share price movements (% change): 24-Jan-2011
