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Japan Airlines shares jump, Virgin Blue falls further

Japan Airlines Group President and CEO, Haruka  Nishimatsu
Japan Airlines Group President and CEO, Haruka Nishimatsu

Japan Airlines shares shrugged off a 0.7% fall on Tokyo's Nikkei 225 Index yesterday to rise 4.9% as the carrier reported a stabilisation in traffic in Jan-2009 and announced a revised network and fleet plan for FY2009.

Services will be boosted to Incheon from 29-Mar-09, to meet stronger demand primarily from passengers in Japan, backed by the strong yen and by the reduction in fuel surcharges. But JAL is also cutting capacity to Beijing, Shanghai, Taipei and Tokyo (Haneda)-Hong Kong.

JAL group passenger numbers growth by international and domestic: Feb-08 to Jan-09

Also in North Asia, China Airlines shares rose 2.1% as the company announced plans to raise USD426 million through a combination of private and public share sales and foreshadowed a capital decrease.

Elsewhere, Virgin Blue shares dropped 4.3% and Kingfisher eased 3.9%.

Asia Pacific selected airlines daily share price movements (% change): 03-Mar-09

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