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Allegiant hits bumps. GOL rises. Swine flu outbreak effects uncertain - SHARE WRAP

Allegiant fell victim to profit taking on Friday, its shares falling -7.4%, while Brazil’s GOL rose 5.5% in a strong market. Otherwise, by recent standards, the Wall Street Casino was relatively calm.

The big question in today’s trading will be how the Mexican swine flu pandemic threat will affect airline stocks – with memories of the impact of SARS in 2003.

In early trading in Asia, Cathay Pacific shares were down more than 8%, but other airlines generally were not as badly affected. Cathay’s fleet was close to being grounded when the SARS effect was at its peak, six years ago.

American airlines may be worse affected, due to the local focus and the intensity of media coverage.

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North & South America selected airlines daily share price movements (% change): 24-Apr-09