Air New Zealand and South African Airways sign codeshare agreement
Air New Zealand’s shares gained 1.5% as the carrier signed a codeshare agreement with Star Alliance partner, South African Airways (SAA), enabling the two carriers to offer Auckland-Johannesburg via Perth service from 01-Nov-2009.
The codeshare will also cover the carriers' connecting domestic services in South Africa and New Zealand, and Air New Zealand's connecting trans-Tasman services from Auckland, Wellington and Christchurch to Sydney.
The move will heighten competition with SAA's existing codeshare partner (and oneworld alliance member), Qantas, on the Australia-South Africa route, as well as V Australia, which plans to commence Melbourne-Johannesburg B777 service next year. Qantas' shares fell 4.4% yesterday, while Virgin Blue dropped 6.3%.
Jet Airways losses widen; China's 'Big Three" return to the black
Jet Airways’ shares slumped 9.1% yesterday, the most in more than four months, upon the release of the carrier’s financial results for the three months ended Sep-2009 (2Q2010).
China’s ‘Big Three’ airlines, China Southern, Air China and China Eastern meanwhile all rebounded to net profitability in 3Q2009. Shares in Air China, the world’s second largest carrier by market value, were down 2.0% yesterday, with China Eastern remaining unchanged and China Southern’s shares down 2.1%. The airlines all reported their earnings after the close of market yesterday. Shares in the airlines have all gained more than 80% in Hong Kong trading this year, compared to a 54% gain in the benchmark index.
See separate report: EARNINGS WRAP: Jet Airways' losses widen; China's 'Big Three" return to the black
Asia Pacific selected airlines daily share price movements (% change): 27-Oct-09