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Hainan Airlines may ask for government funding - so shares go through the roof

10-Dec-2008

With Asian markets relatively benign on Tuesday, following Wall Street's lead, airline stocks were largely unmoved.

The major exceptions - reflecting a lot of subterranean activity in Beijing - involved Chinese carriers.

Air China (-7.0%) and, at the other end of the scale, Hainan Airlines (+10.1%) were the prime movers.

The volatility and uncertainty in China's aviation sector was clearly apparent as Hainan's shares were stopped at the 10% upside limit. Despite Hainan Airlines' poor performance, its parent company announced that a request might be made to the Hainan government for bailout funding.

Asia Pacific selected airlines daily share price movements (% change): 09-Dec-08


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