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Air China soars after upgrade, Cathay lower - share wrap

Air China CEO, Cai Jianjiang
Air China CEO, Cai Jianjiang

Air China's shares soared 8.6% on 04-Feb-09 after Deutsche Bank upgraded the airline to a "buy" on stronger domestic traffic and raised its 12-month target price by 6.5% to HKD2.45.

Deutsche Bank downgraded Air China's cross-equity partner, Cathay Pacific to "sell" from "hold" on the carrier's weak premium demand profile. Cathay shares fell 1.6% yesterday.

Asia Pacific selected airlines daily share price movements (% change): 04-Feb-09

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