Jet Airways, Kingfisher and SpiceJet soar, Chinese stocks higher
It was Indian airlines' turn to rally yesterday, with Jet Airways (+7.0%), Kingfisher (+3.5%) and SpiceJet (+3.0%) gaining as India's Sensex Index closed at a 29-month high yesterday. Investors are hopeful of more gains to come, on rising foreign investment and robust Indian economic growth.
China's civil aviation sees double-digit growth in first half
Air China (+3.0%), China Eastern (+2.9%) and China Southern (+1.5%) were also higher yesterday as the CAAC reported China's aviation industry experienced a 31.7% increase in first half traffic (measured in ton/kms). Passenger numbers rose 17.6% to 126 million.
Skywest Airlines falls on June traffic report
Skywest, the Australian and Southeast Asian regional airline, reported a 10.8% increase in RPT passenger numbers in Jun-2010, while RPKs increased by 13.3%. Load factors surged 9 ppts to 59.1%. Investors were seemingly unimpressed, sending Skywest's shares 3.9% lower yesterday.
Asia Pacific selected airlines daily share price movements (% change): 13-Jul-2010
Source: Centre for Asia Pacific Aviation, Reuters & Financial Times