Thai Airways, Asiana Airlines and Jet Airways soar
Shares in Thai Airways, Asiana Airlines and Jet Airways rallied 6.7%, 6.2% and 5.8% on investor optimism for air travel prospects in Thailand, South Korea and India, respectively this summer.
- Shares in Thai Airways, Asiana Airlines, and Jet Airways experience significant rallies on investor optimism for air travel prospects in Thailand, South Korea, and India.
- Fares for travel from certain points in Asia to Europe are up 20-30% year-on-year, driven by increased demand during the peak summer season.
- Korean stocks rise as investors respond positively to the central bank's upgraded economic growth forecast for 2010.
- Korean Air sees a 1.7% increase in its stock price.
- Virgin Blue, ANA, and Cathay Pacific experience declines in their stock prices.
- Cathay Pacific expresses caution about the sustainability of the rebound in traffic and yields, with softening cargo demand.
Fares for travel from certain points in Asia to Europe this summer are reportedly up 20-30% year-on-year, as demand surges between the mid-July and end of August peak, buoyed by a weaker euro.
Korean stocks finished 0.64% higher yesterday as investors welcomed the central bank's upgrade of its 2010 economic growth forecast, from 5.2% to 5.9%. Korean Air rose 1.7%.
Elsewhere, Virgin Blue fell 3.1%, ANA dropped 2.7% and Cathay closed 1.0% lower as it revealed its Jun-2010 traffic highlights.
Asia Pacific selected airlines daily share price movements (% change): 12-Jul-2010
Source: Centre for Asia Pacific Aviation, Reuters & Financial Times