Virgin Blue and AirAsia shares jump, Qantas higher, Singapore Airlines and Cathay Pacific fall
Institutional investors provided a strong response to Virgin Blue’s cash call, helping the airline raise AUD21 million through the placement of 105.2 million shares and AUD112.1 million from an entitlement offer covering 560.4 million shares. At AUD0.20 a pop, the shares were quickly snapped up. The airline’s shares closed up AUD0.01 (3.5%) yesterday from the previous close of AUD0.29 on 24-Jul-2009. All eyes now turn to the retail offer, in which the carrier hoped to raise close to AUD100 million.
See separate report: Virgin Blue: The New World Warrior under siege, as the guard is about to change
Qantas’ shares gained 0.9% yesterday, while Singapore Airlines eased 1.5% and Cathay Pacific dropped 4.3% after a very solid run over the past month. Other mainland Chinese carriers also came in for some profit taking.
Asia Pacific selected airlines daily share price movements (% change): 29-Jul-09
Source: Centre for Asia Pacific Aviation & Reuters