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.
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