01-Apr-2011 12:00 PM
Qantas' outlook downgraded by Moody's to negative, Virgin Blue's February load factors slump
Analysis
Summary
- Moody's downgrades Qantas' credit rating outlook to 'negative' due to high jet fuel prices and natural disasters.
- Qantas' stock eases by 0.5% following the downgrade.
- Virgin Blue reports a 6.7% reduction in domestic passenger demand for February 2011.
- Virgin Blue's domestic passenger load factor drops by 7.3 percentage points to 76.8%.
- Virgin Blue's international passenger numbers decrease by 23.7% due to the withdrawal from the domestic New Zealand market.
- Virgin Blue's on-time performance declines by 14.5 percentage points to 71.9%.
Virgin Blue meanwhile released its Feb-2011 traffic figures showing a 6.7% reduction in domestic passenger demand. Its domestic passenger load factor slumped 7.3 ppts to 76.8%. Full traffic highlights are as follows:
- Passenger numbers: 1.3 million, -9.2% year-on-year;
- Domestic: 1.2 million, -6.7%;
- International: 170,639, -23.7%;
- Load factor: 75.7%, -4.7 ppts;
- Domestic: 76.8%, -7.3 ppts;
- International: 74%, -0.5 ppt;
- Average aircraft in fleet: 88.5, +4%;
- On-time performance: 71.9%, -14.5 ppts.
Virgin Blue stated, "International passenger numbers for the month of February decreased by 23.7% over the previous year, principally due to the withdrawal of Pacific Blue from the domestic New Zealand market". The airline's shares were flat yesterday.
NB: CAPA members can now generate graphs and download three years of monthly Virgin Blue traffic data at the airline's profile page.
Selected Asia Pacific airlines daily share price movements (% change): 1-Apr-2011
