SpiceJet jumps, Singapore Airlines and Qantas stable, Cathay Pacific down, Jet Airways slips
Asian airline shares were mixed yesterday (18-Jun-09), reflected most clearly in India, where Jet Airways' 6.0% share price reduction contrasted with SpiceJet's 5.8% increase. While the market reacted positively to SpiceJet increasing its fuel surcharge by USD8.36 (INR400) on all domestic tickets purchased from 18-Jun-09, the sentiment was different for Jet Airways, which, along with Kingfisher Airlines, also announced moves to raise fares/surcharges in response to sharply higher jet fuel prices. GoAir, IndiGo and Paramount Airways are considering plans to increase fuel surcharges.
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