Singapore Airlines shares slumped to their lowest since May-2003 as the airline reported passenger traffic in Jan-09 fell the most in more than five years. Shares fell 4.5% to SGD9.97, extending losses this year to 11%.
Passenger traffic (RPKs) dropped 6.9% last month, while passenger numbers dropped 10% to 1.4 million. The carrier yesterday said it will cut capacity by 11% and take 17 passenger aircraft out of its fleet from Apr-09, due to weak forward bookings.
Shares in Qantas fell 5.1% to a 13-year low of AUD1.765, as the airline announced plans to inject Jetstar into the New Zealand domestic market, triggering a fare war. Air New Zealand shares eased 1.1% and Virgin Blue dropped 3.9%.
Asia Pacific selected airlines daily share price movements (% change): 17-Feb-09
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.