Air New Zealand shares spike on recovery talk
Air New Zealand CEO Rob Fyfe has stated that the carrier could return to profitability within months and he would be surprised if it suspended any routes. Air New Zealand issued a profit warning earlier this week, due to the increasing cost of oil and natural disasters in Christchurch and Japan, but Mr Fyfe insisted that while the airline's full-year pre-tax profit could be NZD50 million-60 million lower than initial estimates, operations could be profitable in the first half of its next financial year, commencing 01-Jul-2011.
Shares in the carrier rose 7.5% yesterday, on an otherwise weaker day for Asia Pacific airline stocks. Most heavily affected were several Chinese carriers, with China Eastern down 5.5%, China Southern down 5.3% and Air China 3.7% lower.
China Southern Airlines traffic highlights in Feb-2011:
- Passenger numbers: 6.0 million, +1.5% year-on-year;
- Domestic: 5.4 million, +1.0%;
- Regional: 133,870, -2.1%;
- International: 432,550, +9.8%;
- Passenger load factor: 80.3%, +2.3 ppts;
- Domestic: 82.1%, +3.5 ppts;
- Regional: 72%, -2.2 ppts;
- International: 72.4%, -2.6 ppts;
- Cargo volume: 59,820 tonnes, -8%.
Thai Airways traffic highlights in Feb-2011:
- Passenger numbers: 1.6 million, -6.0% year-on-year;
- Passenger load factor: 77.6%, -4.7 ppts;
- Cargo volume: 51,390 tonnes, -0.3%;
- Cargo load factor: 56.6%, -3.8 ppts.
Selected APAD daily share price movements (% change): 17-Mar-2011