Malaysia Airlines shares continue to dive
Investors have continued their sell-off of Malaysia Airlines shares, with the stock losing another 6.9% on Monday, after heavy falls late last week. The carrier reported a USD88 million 1Q2011 operating loss, after higher fuel prices and lower cargo revenue bit into the carrier's bottom line.
- Malaysia Airlines shares continue to decline as investors sell off, following a reported operating loss in 1Q2011.
- The carrier's outlook is softening, particularly in Japan due to the aftermath of the earthquake and tsunami.
- Thai Airways reports an increase in passenger numbers but a slight decrease in passenger load factor in April 2011.
- EVA Airways pleads guilty to conspiracy to fix prices in air cargo markets and agrees to pay a fine of USD13.2 million.
- The US Department of Justice has now charged and fined a total of 22 airlines and 21 executives in relation to price-fixing in the air cargo industry.
- APAD daily share price movements show fluctuations in airline stock prices.
Malaysia Airlines has warned that its outlook is softening, particularly in Japan where its operations have been affected by the aftermath of the earthquake and tsunami disaster.
Thai Airways reported the following traffic highlights in Apr-2011:
- Passenger numbers: 1.5 million, +8.8% year-on-year;
- Passenger load factor: 71.8%, -0.3 ppt;
- Cargo volume: 58,903 tonnes, +3.0%;
- Cargo load factor: 58%, -4.4 ppts.
EVA Airways Corp agreed to plead guilty to conspiracy to fix prices in air cargo markets and pay a USD13.2 million criminal fine, according to the US Department of Justice. The US DoJ has now laid charges and fines against 22 airlines and 21 executives. Shares in EVA Airways were up 4.1% on Monday.
Selected APAD daily share price movements (% change): 30-May-2011
