Asian airline stocks surge as oil price fall, India's carriers lead the way

Asia Pacific airline stocks surged on Friday following the sell off in oil prices on Thursday.

Oil prices in New York fell below USD100 per barrel for the first time since mid-Mar-2011 on Thursday, losing 8%. Losses continued on Friday.

Gains were led by Jet Airways, which surged 11.9%, while Kingfisher and SpiceJet also rose by more than 10%. See related report: Air India writes its own melodrama

Selected Asia Pacific airlines daily share price movements (% change): 06-May-2011