Qantas, Cathay Pacific, Singapore Airlines, Tiger Airways & Virgin Blue rise, China Southern soars
Cathay Pacific’s shares gained 4.7% to HK15.20 yesterday, its highest close since Jul-2008, after the carrier reported its best half-year result in two years and a return to profitability for 2009.
See related report: Cathay Pacific cautious on 2010 outlook, but in the midst of a solid turnaround
Qantas’ shares rose 2.5% as it reported an improvement in yields in Jan-2010, while Tiger Airways soared 4.9% to SGD1.70 as it reported rising load factors and soaring demand. It was Tiger’s highest close since it commenced trading on 22-Jan-2010. Virgin Blue also advanced 2.7%.
See related report: Qantas yields heading in the right direction, but still weaker than 2008. Tiger traffic zooms
Singapore Air, the world’s second-biggest airline by market value, climbed 3.5% to SGD15.94 yesterday.
Elsewhere, China Southern Airlines continued to soar in the wake of its announcement of its massive capital expansion plans. See related report: China Southern Airlines' shares soar on big capital injection
Asia Pacific selected airlines daily share price movements (% change): 10-Mar-2010
Source: Centre for Asia Pacific Aviation & Reuters