Thai Airways shares leap; Cathay Pacific falls. Qantas performs worse than Indian carriers this year

Thai Airways' shares (+11.1%) leapt yesterday, presumably on either rumour or inside information about a government support programme coupled with credit restructuring. The flag carrier is searching for a suitably strenuous corporate restructuring plan, which will provide a basis for the government to provide loan guarantees - and in turn allow the carrier to roll over its current short term debt facilities and/or find new ones.