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02-Dec-2010 12:20 PM

Skymark to hire former JAL staff; AirAsia X to launch services to Christchurch

Analysis

Asian stocks generally rose yesterday as reports showed US consumer confidence increased and China's manufacturing activity expanded.

Skymark Airlines stated it plans to hire 470 former Japan Airlines employees including 120 former JAL captains and first officers in addition to around 50 mechanics and 300 cabin crew. The carrier's shares jumped 5.0% to JPY1003 yesterday.

Shares in Cebu Pacific remained unchanged yesterday while shares in parent company, JG Summit Holding, advanced 5.1%, snapping a six-day 19% loss.

Shares in Air New Zealand were unchanged yesterday at NZD1.38 after Malaysian-based AirAsia X announced plans to launch Kuala Lumpur-Christchurch service in Mar-2010 or Apr-2011. The carrier is expected to undercut existing fares by as much as 50% with the carrier stating it would offer the "cheapest international airfares New Zealand has seen". Shares in AirAsia X parent company, AirAsia, declined 2.6% yesterday.

Asia Pacific selected airlines daily share price movements (% change): 01-Dec-2010


Source: Centre for Asia Pacific Aviation, Reuters & Financial Times

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