Qantas losing international market share, Air India strike costs USD21 million
Qantas' shares slipped 3.4% yesterday, with Virgin Blue also down (-2.2%) in a weaker market.
Australia's Federal Government reported earlier this week that Qantas Airways is losing international market share. In Jul-2009, the share of passengers operated by Australian-designated carriers increased 1.1% to 33%, while Qantas' market share decreased 3.6 ppts, the largest reduction for any airline, to 20.6%.
Among those gaining market share was Emirates (+1.0 ppts to 8.1%), Qantas Group subsidiary, Jetstar (+1.4 ppts to 7.2%) and Virgin Blue Group subsidiary, Pacific Blue (which doubled to 6.2%).
Air India strikes costs USD21 million in lost revenue; fare sale to result in further revenue pressures
In the Indian market, Air India has implemented a similar move to Jet Airways and reduced fares by up to 8%, following its four day pilots strike, which cost the carrier an estimated USD21 million in lost revenue.
Vietnam Airlines expects passenger numbers to more than double in 2009
Vietnam Airlines expects the handle 9 million passengers this year, more than double 2008 levels (which stood at 4 million).
The carrier expects to carry 2.9 million passengers between Sep-2009 and Dec-2009, a 6% year-on-year, although international passenger traffic is expected to decrease 7% during the four month period.
Singapore Airlines' and Malaysia Airlines' shares slipped 1.7% and 1.0%, respectively, yesterday, while Cathay Pacific was up 0.2%.
Asia Pacific selected airlines daily share price movements (% change): 01-Oct-09
Source: Centre for Asia Pacific Aviation & Reuters