Government ownership questions affect Thai Airways’ shares; reduced jet fuel prices in India
The Thai Finance Ministry is considering reducing its majority 51.03% stake in Thai Airways, according to reports in the Bangkok Post. Thai Finance Minister, Korn Chatikavanij, subsequently clarified the speculation, denying the Thai Government plans to reduce its stake in the carrier in the short term, but adding that the move may be a possibility in the long term. Thai Airways' shares slipped 0.5% yesterday.
The Thai Transport Ministry has requested the Finance Ministry inject a further USD301 million into the carrier under its USD754 million rights issue to support its turnaround plan. This would allow the government to maintain its stake in the near term.
Further reduction in jet fuel prices in India
Shares in India’s listed carriers, SpiceJet, Jet Airways and Kingfisher, were all weaker yesterday (down 2.5%, 0.4% and 0.3%, respectively) despite Indian Oil Corp (IOC), Bharat Petroleum Corp and Hindustan Petroleum reducing Indian jet fuel prices by approximately 2.5%, effective 15-Feb-2010, following a reduction of approximately 5.5% on 01-Feb-2010.
ANA passenger traffic and cargo jumps in Jan-2010
ANA’s shares remained flat yesterday, as the carrier reported a 1.3% reduction in domestic passenger in Jan-2010, and an 11.7% jump in international passengers (to 411,323). The carrier’s domestic (+0.5%) and international (+82.8%) cargo volumes also improved in the month.
Asia Pacific selected airlines daily share price movements (% change): 15-Feb-2010