Skymark Airlines shares slump on new offering, AirAsia X signs engine deal
The company hopes to raise JPY21.29 billion (USD261 million) in the share offering, which will increase its outstanding shares by 28%.
AirAsia X has meanwhile signed a USD600 million contract with General Electric to purchase six CF6-80E1 engines from GE Aviation, to power three new A330-200 aircraft scheduled for delivery beginning 2012, with the remainder by 2014. The agreement signed on 18-May-2011 includes a 20-year service agreement and the option to buy four more engines. CEO, Azran Osman-Rani stated that by 2020, AirAsia X's fleet will increase to 38 aircraft from 11 currently. AirAsia Bhd's shares fell 1% yesterday.
Tiger Airways gained 1.3% ahead of its 4Q earnings announcement later today.
Selected LCCs daily share price movements (% change): 18-May-2011