NY-listed LCCs strengthen; Virgin Blue upgraded
Virgin Blue and Cebu Air fall on upgrade
Cebu Air was rated “buy” with a 12-month share price estimate of PHP160 by Citigroup. JPMorgan has assigned the stock an “overweight” rating with a price estimate of PHP145. Cebu fell 3.2% yesterday to PHP120.10.
SpiceJet falls 4.2%
India’s SpiceJet was the day’s sharpest loser, falling 4.2%. The carrier has recently announced a major reshuffle of senior management following Kalanithi Maran’s acquisition of 38% of the airline’s stock. Mr Maran is the LCC's chairman.
Selected LCCs daily share price movements (% change): 17-Nov-2010