Korean Air, Kingfisher and Qantas lead Asia Pacific airline stocks
Asia Pacific airline stocks were mixed yesterday, with Indian carriers higher and Taiwanese airlines falling.
SpiceJet (+4.6%), Kingfisher (+3.5%) and Jet Airways (+1.6%) enjoyed solid gains, while Korean Air (+3.9%) and Qantas (+2.0%) also rose.
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EVA Air (-3.1%) and China Airlines (-2.0%) dropped back, despite an agreement between Taiwan's Civil Aeronautics Administration and the CAAC to increase cross-Strait frequencies with an additional 72 weekly flights from 05-Jul-2010. China Airlines will add 14 weekly frequencies on services to Beijing (to daily), Guangzhou (daily), Shenzhen (daily), Ningbo and Nanjing while the privately-owned Transasia Airways will add two weekly frequencies on the Taipei Songshan-Fuzhou and Kaohsiung-Fuzhou routes, respectively.
Hainan Airlines eased 0.6% as it released its traffic figures for May-2010, handling 1.6 million passengers in the month, up just 1.9% year-on-year.
Asia Pacific selected airlines daily share price movements (% change): 08-Jun-2010
Source: Centre for Asia Pacific Aviation & Reuters