21-Mar-2011 12:41 PM
South Asian airlines shares continue to fall
Analysis
Asia Pacific airlines had a better day on markets on Friday, although shares in airlines in South Asia continue to fall. Pakistan International Airlines, SpiceJet, Jet Airways and Kingfisher all recorded share price drops in trading on Friday.
Summary
- Shares in airlines in South Asia, including Pakistan International Airlines, SpiceJet, Jet Airways, and Kingfisher, experienced a drop in share prices on Friday.
- Cebu Pacific reported positive financial results for the 12 months ended 31-Dec-2010, with a significant increase in revenue, operating profit, net profit, and passenger numbers.
- Cebu Pacific's EBITDAR margin also improved by 5.7 percentage points.
- Cebu Pacific forecasts a 12.1% increase in passenger numbers for 2011.
- Shares in Cebu Pacific increased by 0.7% on Friday.
- Tiger Airways showed strong share price growth, with a 6% increase.
Elsewhere, Cebu Pacific reported the following financial highlights for the 12 months ended 31-Dec-2010:
- Revenue*: USD665.7 million, +24.8% year-on-year;
- Operating costs: USD518.1 million, +12.4%;
- Operating profit: USD147.6 million, +103.9%;
- EBITDAR margin: 34.9%, +5.7 ppts;
- Net profit: USD158.4 million, +112.5%;
- Passenger numbers: 10.7 million, +21%;
- International: 2 million, n/a;
- Assets: USD1143 million, +40%;
- 2011 forecast:
- Passenger numbers: 12 million, +12.1%.
* Based on the conversion rate USD1 = PHP43.7.
Shares in Cebu Pacific were up 0.7%. Tiger Airways showed strong share price growth, up 6%.
Selected APAD daily share price movements (% change): 18-Mar-2011
