AirAsia and Qantas higher, Cathay and SIA weaker, SpiceJet, Kingfisher and Jet Airways snap winning

Shares in AirAsia continued to gain ground (+2.4% yesterday) ahead of this week’s March quarter earnings report. Qantas gained 1.1% as rumours circulate the carrier has appointed Morgan Stanley to conduct a wide-ranging strategic review of its structure and operations. Virgin Blue was steady yesterday.

Singapore Airlines and Cathay Pacific dropped back 1.2% and 0.4%, respectively, while India’s SpiceJet (-8.9%), Kingfisher (-8.8%) and Jet Airways (-8.2%) lost ground as Jet released a weak earnings report and challenging outlook.

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Asia Pacific selected airlines daily share price movements (% change): 26-May-09