SpiceJet and Virgin Blue gain ground - share wrap

SpiceJet's shares rose as much as 6% yesterday in early trade after the airline confirmed it would consider acquisition opportunities in the Indian airline industry. SpiceJet predicts a wave of consolidation to reach the sector soon. Shares in the company closed up 2.4%.

Meanwhile, Virgin Blue regained the previous day's losses, rising 4.3%, as long-haul unit, V Australia announced it received its Air Operator's Certificate, paving the way for the launch of services to Los Angeles from Sydney next week.

Asia Pacific selected airlines daily share price movements (% change): 19-Feb-09