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Thai Airways rises as leadership resolution nears; China Airlines, EVA, Air China down - Share Wrap

13-May-2009

Thai Airways’ shares surged 8% yesterday as the government has reportedly moved a step closer to appointing economist and former Energy Minister, Dr Piyasvasti Amranand, as the airline’s new President, replacing Apinan Sumanaseni, who stepped down in Nov-2008 citing a dispute with the airline’s Board over strategy. Developing a strong working relationship with the Board will be Dr Piyasvasti’s major priority, as the airline can ill-afford more leadership uncertainty and internal wrangling.

Meanwhile, China Airlines, EVA Air and Air China shares fell 7.0%, 6.4% and 4.8%, respectively, yesterday as Beijing stepped up flu monitoring nationwide after confirming the Mainland's first swine flu case. China has two confirmed cases of A(H1N1) virus, according to the WHO, including the new one in Chengdu and one in Hong Kong SAR.

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Asia Pacific selected airlines daily share price movements (% change): 12-May-09


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