Asia Pacific airline shares slump on oil concerns
Airline stocks dropped across the board in the the Asia-Pacific, with rising oil prices triggering profit concerns for the industry. Oil prices on the benchmark West Texas Intermediate index for April delivery surged 6.4%, hitting the highest level since Oct-2011.
Jet Airways reported the following traffic highlights in Jan-2011:
- Passenger numbers: 1.7 million, -6.6% year-on-year;
- Passenger traffic (RPKs):
- Passenger load factor: 77.8%, -4.2 ppts;
- Cargo volume: 57,666 tonnes, +7.1%;
- Cargo load factor: 53.7%, -0.8 ppt.
Thai Airways reported the following traffic highlights in Jan-2011:
- Passenger numbers: 1.3 million, +14.8% year-on-year;
- Domestic: 853,449, +13.7%;
- International: 425,847
- Passenger load factor: 80.8%, -0.3 ppt;
- Domestic: 73.8%, +0.3%;
- International: 84.2%, +17%;
- Cargo volume: 16,038 tonnes, -2.4%.
Selected APAD daily share price movements (% change): 23-Feb-2011