Jet Airways’ pax up by double-digits; load factors improve significantly; JAL gains on support
The carrier also reported notable load factor improvements, with domestic load factors up 9.4 ppts (to 72.3%) and international and JetLite load factors up by double-digits (International up 12.5 ppts to 81.9% and JetLite load factors up 12 ppts to 76.7%).
Jet Airways added that it has experienced “enhanced yields helped by innovative pricing to match capacity with demand”. Investors, it seems, were looking for even greater improvements by the airline.
Japan Airlines gains on Government loan-guarantee expectations
Japan's Nikkei stock average climbed 1.5% to a six-week closing high on Monday.
Shares in Japan Airlines also gained yesterday, jumping 7% for three consecutive days of gains and to a three-week high, following reports the airline is set to receive JPY700 billion (USD7.7 billion) in loans and other funds for the debt-laden airline.
AirArabia expecting a turnaround in 2010
The Dubai Bourse tumbled almost 6% to a 20-week low on Monday, reversing gains made on Sunday.
Investors reacted to comments by Dubai Finance Department Director-General, Abdul Rahman al-Saleh, in which he stated that while Dubai World might sell some assets to finance its commitments, the Dubai Government would not make any disposals of its own, suggesting that firms including Emirates would not be involved in any asset sales.
In the Middle East region, shares in Air Arabia and Jazeera Airways both tumbled 5.3% yesterday. AirArabia’s share price slump occured despite CEO, Adel Ali, stating the carrier expects to see the airline industry's performance “turning around” in 2010. Mr Ali told Arabian Business, “every time we have seen a recession we have seen it coming back quickly. 2010 we will see turning around, it wont be a boom year, but we will see the trend in the right direction. It is as simple as history repeats itself”.
Asia Pacific selected airlines daily share price movements (% change): 07-Dec-09