EVA Air, China Airlines soar on Mainland investment hopes – SHARE WRAP
Last weekend, Taiwan and Mainland China signed an expanded agreement on direct cross-Strait services this Summer, involving an increase in total passenger services from 108 to 270 per week, as well as 28 cargo frequencies. A doubling in frequencies was previously seen as a good outcome by industry participants, so the almost trebling in capacity has been a welcome development for both sides (and more bad news for Cathay Pacific/Dragonair/Air Macau). Six new destinations were added in Mainland China (Hefei, Harbin, Nanchang, Guiyang, Ningbo and Jinan) increasing the total to 27.
Elsewhere, Malaysia Airlines jumped 5.7%, Singapore Airlines added 3.9% and Korean Air rose 3.4%, but China Southern eased 0.5% and Air NZ was 1.9% lower.
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Asia Pacific selected airlines daily share price movements (% change): 30-Apr-09