AirAsia shares hit all-time record, Virgin Blue shares recover
Shares in AirAsia rose 6.3% on Thursday, hitting an all-time high of MYR3.04 after two days of relatively heavy trading. AirAsia shares have been trading generally upwards since May-2010, more than doubling in value. The shares have eased down 1.6% in trading to 1pm Sydney time today.
Shares in Virgin Blue were up 2.3%. Despite concerns about the affect of the Queensland floods on the carrier’s operations, its ongoing diversification and tie-up moves continue to present a challenge to the Qantas Group. Virgin Blue has recently signed deals with Etihad Airways, Air New Zealand and Skywest Airlines.
Selected LCCs' daily share price movements (% change): 13-Jan-2011