Republic Holdings shares rally
After sinking through last week, shares in Republic Airways recovered 3.6% in trading on Friday, leading a better day for US airline stocks as oil prices stabilised and most global indexes regained ground. Mid-week, the carrier reported a 4Q2010 net loss of USD1.3 million and a 13.8 million net loss for the full year.
The final quarter result was affected by the rise in oil prices. The carrier expects to make more if the price of oil and jet fuel continue to climb, following on from the fare increase last week.
In trading elsewhere, Air Canada B Shares lost 3.1%. According a report in the The Wall Street Journal a "big unidentified shareholder" sold 21 million Class B shares in a block trade executed by Canaccord Capital.
There were mixed results for Latin American carriers. GOL lost 2.3% while TAM eased 0.2%. Copa Airlines was up 1.7%, while LAN gained 2.7%.
Selected AAD daily share price movements (% change): 25-Feb-2011
