Cebu Pacific gains, AirAsia falls

It was Cebu Pacific’s turn to surge on the stock market yesterday, following hefty gains by rival Philippine Airlines earlier in the week, as the aviation landscape in the country shifts.

See related report: Philippine Airlines faces storm as Cebu Pacific grows, Tiger and AirAsia enter market

Southeast Asian LCC rival, AirAsia slumped 5.6% yesterday as Malaysia Airlines tied up with KLM for network cooperation. See related report: Malaysia Airlines jumps on KLM cooperation plans

Selected LCCs daily share price movements (% change): 23-Dec-2010