28-May-2010 3:46 PM
Good day for LCC shares despite surging oil price
Analysis
LCC shares around the world rose strongly yesterday, led by South America's GOL (+7.3%), despite a 4.3% (USD3 per barrel) surge in the price of oil to USD74.55 on the New York Mercantile Exchange.
Summary
- LCC shares around the world rose strongly, led by South America's GOL, despite a surge in oil prices.
- GOL's shares increased by 7.3%.
- AirAsia's shares gained 5.4%.
- Virgin Blue's shares remained flat initially but slumped later due to a profit warning.
- The price of oil rose by 4.3% to USD74.55 per barrel.
- The data is sourced from the Centre for Asia Pacific Aviation, Yahoo! Finance, and Reuters.
See related reports:
AirAsia gained 5.4%, while Virgin Blue was flat, though the Australian airline's shares have slumped today as it published a fresh profit warning.
Selected LCCs daily share price movements (% change): 27-May-2010
Source: Centre for Asia Pacific Aviation,Yahoo! Finance & Reuters