Kingfisher leaps on equity raising, AirAsia rises on ancillary revenue plan - share wrap
Kingfisher Airlines' shares rose as much as 15% on 09-Feb-09, after the airline confirmed it would aim to raise up to INR20 billion (USD414 million) in fresh equity by selling a 25% stake to "strategic and financial investors". The airline (and its investors) are hopeful the government will ease foreign ownership regulations soon. The shares closed up 8.3%.
SpiceJet shares were also sharply higher yesterday (+9.5%). Kuwait's Jazeera Airways indicated it could be interested in investing in the Indian aviation market.
Elsewhere, AirAsia's shares rose 7.2% as the carrier announced a new assigned seating strategy designed to raise ancillary revenues, while Singapore Airlines shares fell ahead of today's third quarter results announcement.
Asia Pacific selected airlines daily share price movements (% change): 09-Feb-09
