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11-Feb-2009 10:52 AM

SpiceJet shares soar as it touts industry consolidation - share wrap

Analysis

Indian LCC, SpiceJet, enjoyed a 14.1% increase in its share price yesterday as new CEO, Sanjay Aggarwal, declared, "there is not enough room for five low-cost carriers in India". He said consolidation is inevitable and declared his airline would participate.

Elsewhere, Thai Airways shares rose 9.9% as the carrier stated it would suspend its fuel-hedging activity from Apr-09.

Asia Pacific selected airlines daily share price movements (% change): 10-Feb-09

Source: Centre for Asia Pacific Aviation & Reuters

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