Japan Airlines and ANA slide, Cathay Pacific and Jet Airways surge

Shares in Japan Airlines (JAL) and ANA slid 3% and 3.6% on Tuesday, respectively, as investors digested JAL’s decision to suspend talks with Delta Air Lines and American Airlines over potential equity investments and alliances. The Nikkei rose 0.18% yesterday.

Cathay higher as Hang Seng gains

In Hong Kong, the Hang Seng Index added 1.9% yesterday, after Monday’s rally on Wall Street, with Cathay Pacific surging 6.1%. The carrier stated it recorded its best weekly passenger load factor for 2009 at the start of October, reflecting the Mainland’s week-long National Day holiday from 01-Oct-2009, although CEO, Tony Tyler, attributed the gains to “seasonal strength in the market” and yields remain “much reduced”.

Elsewhere, Jet Airways added to Monday’s 12.9% rise gaining a further 10.4% yesterday, while Air New Zealand added 4.1% and Qantas gained 0.4%.

Asia Pacific selected airlines daily share price movements (% change): 06-Oct-09