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SpiceJet and China Eastern swing to profitability, Jet Airways' woes continue

Analysis

Asian airline shares were generally higher on Monday (27-Jun-09), reflecting stronger conditions on Asian equity markets. The Chinese carriers were the strongest gainers yesterday, with China Southern, China Eastern, Hainan Airlines, Air China and Cathay Pacific rising 8.0%, 7.3%, 6.7%, 5.0%, 3.0% and 1.5%, respectively, as the Shanghai stock market gained 1.86% to a 14-month closing high.

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