Qantas, Singapore Airlines and Cathay Pacific slip, reflecting overall market weakness

Shares in the major Asia Pacific carriers were generally down on Monday (06-Jul-09), reflecting overall weakness in Asia Pacific markets. Cathay Pacific, Singapore Airlines, Japan Airlines and Qantas shares were all down, by 0.6%, 0.9%, 1.1% and 2.3%, respectively.

Deep stock market losses experienced by Indian carriers in Jun-2009 have continued into Jul-2009, with Kingfisher, SpiceJet and Jet Airways falling 8.4%, 5.9% and 2.6%, respectively, on Monday, following losses of 28.9%, 17.9% and 19.8% in Jun-2009. The carriers' shares are now back to 10% above start of year levels.

Kingfisher, Jet Airways and SpiceJet share price index: Jan-2009 to Jul-2009

Elsewhere, only Hainan Airlines, China Southern, Thai Airways and Asiana shares gained yesterday, up 3.3%, 2.0%, 1.4% and 0.3%, respectively.

Asia Pacific selected airlines daily share price movements (% change): 06-Jul-09