China Southern reported continued double-digit year-on-year traffic gains, with passenger numbers increasing 17% to 6.0 million. Domestic passenger numbers gained 15% to 5.5 million, international passenger numbers were up considerably, by 41% to 420,070 and regional passengers rose 34% to 127,010.
China Southern Airlines’ shares slipped 2.7% yesterday, following a 6.5% gain on Monday (which was the largest gain in three weeks), as the Chinese Government moved to loosen controls on the exchange rate, allowing the Yuan to strengthen against the US Dollar.
China Southern's passenger load factors also improved by 3.4 ppts to 75%, while cargo volumes gained 34.9% to 89,980 tonnes. The airline's shares fell 2.7% yesterday.
Similarly, shares in Air China slipped 0.6% yesterday, after surging 6% to a two-year high in Hong Kong trading on 21-Jun-2010.
Hainan Airlines gained 4.3% yesterday, following a 9.9% advance on 21-Jun-2010. The carrier’s shares have also been positively affected by the National Development and Reform Commission’s approval of a plan (first announced in Dec-2009) to make Hainan Province an international tourism destination. See related report: Hainan Airlines parent, HNA Group, supercharged for growth
In Southeast Asia, shares in Thai Airways gained 2.8%, while Singapore Airlines and Malaysia Airlines remained flat. In the South Pacific, Qantas, Air New Zealand and Virgin Blue shares all declined, by 2.0%, 1.7% and 1.6%, respectively.
Asia Pacific selected airlines daily share price movements (% change): 22-Jun-2010
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