Loading
29-Jun-2009 11:45 AM

Qantas' shares stronger after B787 cancellation, Cathay Pacific up, Japan Airlines stable

Analysis

Shares in Qantas advanced 1.8% on Friday (26-Jun-09), as investors welcomed the airline's plans to cancel 15 B787s deliveries and defer a further 15 of the aircraft type. The move was described by Qantas CEO, Alan Joyce, as "appropriate in the current climate".

Qantas Group's low cost subsidiary, Jetstar, meanwhile stated it would continue with expansion plans despite the B787 decision, and is reportedly considering ordering additional A330s to support its future international expansion.

Elsewhere, Air China and Thai Airways shares rose considerably, by 6.0% and 5.0%, respectively, exceeding improvements in local stock indexes on Friday, with Cathay Pacific also advancing 2.0%. Singapore Airlines remained stable, after slipping 1.3% on Thursday.

Asia Pacific selected airlines daily share price movements (% change): 26-Jun-09

Source: Centre for Asia Pacific Aviation & Reuters

Want More Analysis Like This?

CAPA Membership provides access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More