Malaysia Airlines’ shares fell to their lowest level in more than seven years yesterday, to close at MYR1.92, as investors sold stock in the airline to seek cheaper rights shares. Under the rights issue, MAS is offering 1.7 million new ordinary shares at MYR1.60 per share.
In other MAS news, the carrier stated it expects at least 50% growth in frequent flyer flown revenue in 2010, following a 45% year-on-year increase in flow revenue in 2009, to USD551 million.
EVA Air's shares gained 0.8% yesterday, upon the release of the carrier’s Jan-2010 traffic results. EVA reported a slight increase in passenger revenue (+0.4% to USD139 million), as the 16% increase in passenger numbers (to 554,000) offset a 10% reduction in passenger yield, while cargo revenue growth surged off last year's weak base (+86% to USD81 million), as cargo yields gained 10.9% and cargo volumes soared 70% (to 62,861 tonnes).
Cathay Pacific rose 3.3% to HKD13.72. The airline was raised from “underperform” to “buy” by Bank of America Merrill Lynch Research.
For all this and more coverage of today's Asia Pacific aviation developments, see Asia Pacific Airline Daily.
Asia Pacific selected airlines daily share price movements (% change): 11-Feb-2010
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