South Asian airlines shares continue to fall
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.
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