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US airline shares dive as OPEC maintains output

9-Jun-2011

Oil prices rose again on Wednesday as OPEC announced it will maintain its current oil production quotas, against expectations it would lift output by 1-2 million barrels per day. Shares in US carriers were down significantly, with Republic Airways stock down 4%.

Shares in Hawaiian Airlines were flat. The carrier reported that May-2011 traffic rose 7.7% year-on-year, although load factors eased 1 ppt to 84.5%. 

Latin American shares were generally lower as well, with GOL losing 3.7%, Copa Airlines down 1.8% and TAM finishing trading down 1.2%. Copa Holdings reported  the following traffic highlights in May-2011:

  • Passenger traffic (RPMs): +29.2% year-on-year;
    • International: +33.5%;
    • Domestic: -6.1%;
  • Passenger load factor: 76.3%, +3.6 ppts;
    • International: 76.7%, +3.3 ppts;
    • Domestic: 72.3%, +4.5 ppts.

Selected AAD daily share price movements (% change): 08-Jun-2011


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