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.