Westjet traffic up 12% in Feb-2011; AirAsia Indonesia targets fourth quarter listing

AirAsia Indonesia announced it expects to raise USD150 million-200 million from the sale of a 20% stake in an IPO to be held at the end of 4Q2011. The funds raised will be used to acquire new aircraft, boost capital, finance long-term operational costs and speed corporate growth. The carrier plans to expand its fleet from 16 to 30 aircraft by 2015 and is targetting 15% revenue growth in 2011.

Westjet announced (03-Mar-2011) the following traffic highlights in Feb-2011:

  • Revenue passenger miles: +12.2% year-on-tear;
  • Passenger load factor: 83.6%, +1.1 ppts.

Global LCC share prices were typically stronger. Virgin Blue rose 5.9%, the strongest single-day rally in four weeks. Dart Group shared dropped 4.6%, ending a three-day upwards run.

Selected PEA daily share price movements (% change): 03-Mar-2011