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Asian airline shares ease as economic conditions worsen - share price wrap

  • Asian airline shares lower on renewed concerns about the global economic outlook.

Asian airline shares have come under pressure in a wave of selling that has hit global stock markets in the past week over renewed concerns about the outlook for the world's leading economies. The gloomy is set to continue, as IMF Managing Director, Dominique Strauss-Kahn, releases new global economic forecasts in the next few days which will show sharp decreases on previous estimates.

Jet Airways shares lost a further 8.8% on 13-Jan-09. The carrier earlier this week forecasted a further USD2 billion loss for India's airlines this year. SpiceJet also fell 6.7%.

AirAsia eased 2.7% as it announced a new baggage policy and Malaysia Airlines (+0.6%) dropped its domestic fuel surcharge - a move enacted by AirAsia almost two months ago.

Asia Pacific selected airlines daily share price movements (% change): 13-Jan-09

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