Skymark continues strong run

Skymark continued its strong run yesterday, gaining 4.0% to close at JPY1043, a five-year high. The wider Tokyo market was similarly strong, hitting a five-month high on positive global economic news.

Skymark’s advanced for the fifth consecutive session in Tokyo. The airline had a big November and recently stated it plans to taken on 470 former JAL employees as part of expansion plans. 

Further south, AirAsia (+0.8%) and Cebu Air (+0.5%) also firmed.

In the US, all LCCs were either stable or down, despite upbeat economic data at home and abroad and a bullish sentiment on markets. LCCs in the US closed down as investors cashed in on gains earlier in the week. JetBlue (-1.4%) and Southwest (-1.0%) had the sharpest fall.

European LCCs were mixed on Thursday, despite easing pressure on the euro and gains on major financial markets. Cimber Sterling (+5.5%) was the strongest gainer, followed by easyJet (+2.0) and Air Berlin (+1.3%).

Selected LCCs daily share price movements (% change): 02-Dec-2010