Thai Airways, EVA, China Airlines and AirAsia buck downward trend – SHARE WRAP
AirAsia rose 2.6% as its long-haul offshoot, AirAsia X, confirmed plans to increase Kuala Lumpur-London Stansted frequency to daily from 01-Jul-09, due to “unprecedented” demand. With fares from GBP149 one way, the response is hardly surprising.
Chinese carriers were steady, retracing heavy intra-day falls, after the CAAC clarified it has no plans to alter the current fare policy. Earlier reports suggested a new system would raise average fares by 20%, with fewer discounts available.
Virgin Blue and Qantas lost ground in a weak ASX200, closing down 4.8% and 3.5%, respectively.
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Asia Pacific selected airlines daily share price movements (% change): 21-Apr-09