US airline stocks gained on Friday, with the NYSE Arca Airline Index rising approximately 1%. It ended a week that recorded an increase of 7%, as US carriers reported double-digit unit revenue growth in Jun-2010, coupled with strong load factors, continued careful capacity management and improved demand.
Meanwhile, JetBlue became the last of the majors to report Jun-2010 traffic results on Friday, with the results boosting the LCC’s share price by 4.9%. JetBlue stated passenger revenue per ASM (RASM) increased 19% year-on-year in Jun-2010, with passenger numbers increasing 9.7% year-on-year to 2.1 million in the month. Average load factors increased 3.9 ppts to 84.2%.
In the Canadian market, stocks rose for a fourth day on 09-Jul-2010 after government data revealed that Canada’s job creation was almost five times more than economists expected in Jun-2010, restoring most of the country’s job losses since 2008.
Statistics Canada reported that employment rose by 93,200 in Jun-2010 (following gains of 24,700 in May-2010 and a record 108,700 in Apr-2010), with the jobless rate falling to 7.9%, the lowest since Jan-2009. Meanwhile, Canada’s dollar strengthened against its US counterpart for a fourth day, rising to the highest level this month.
Canada’s employment levels: Jun-2007 to Jun-2010
Selected LCCs daily share price movements (% change): 09-Jul-2010
Want more analysis like this? CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find out more and take a free trial.