China Southern, China Eastern, Air China soar, Jet Airways-Kingfisher to codeshare – SHARE WRAP
China Southern Airlines’ shares surged 14% yesterday to an eight-month high, while China Eastern and Air China also shot up, by 16.9% and 8.3%, respectively. The gains related to moves by the CAAC to amend the fare pricing system, which will result in an average 20% increase in ticket prices, with fewer discounts available. Investors are hoping the move will help bolster airline earnings in coming months.
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