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Asia Pacific airline shares have another weak session

Asia Pacific airline stocks had another poor day yesterday, with broad-based falls of 1-4% for most carriers, reflecting higher oil prices.

All Nippon Airways was one of the few to gain (1.3%), in the wake of its LCC subsidiary announcement, while Singapore Airlines was flat. SIA announced plans to set up a long-haul low-cost carrier after the market closed.

See related report: SIA's long-haul low-cost subsidiary strategy to restore growth after a lost decade

Selected APAD daily share price movements (% change): 26-May-2011