My Account Menu

CAPA Login


Register to trial CAPA Membership!

Virgin Blue slumps on profit warning, Kingfisher gains on profit expectation

31-May-2010

Virgin Blue’s shares plummeted 28% on Friday after releasing its second profit warning in a month (but regained over 6% in early trade today), while Qantas gained 1.2%, with a further increase during today's morning trading.

See related report: Aspirational Virgin Blue faces reality shock. Aftermath of another profit warning

Erstwhile Virgin Blue partner, Air New Zealand, also lost 1.7% on Friday and was down nearly 1% in morning trade today.

Australia's Skywest Airlines (+7.4%), which last week had its monopoly of a number of air routes extended for nearly a year, was Friday's best performer.

Elsewhere, Air China (+4.3%) also continued its price recovery, while Kingfisher Airlines gained 3.6% as it revealed sharply lower losses in FY2010 and predicted a profit in FY2011. See related report: Kingfisher Airlines heading in right direction, predicts profitable 2010/11

Asia Pacific selected airlines daily share price movements (% change): 28-May-2010

*Markets were closed in Singapore, Malaysia and Thailand on 28-May-2010 for a public holiday


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.