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Asia Pacific airline shares slump on oil concerns

Airline stocks dropped across the board in the the Asia-Pacific, with rising oil prices triggering profit concerns for the industry. Oil prices on the benchmark West Texas Intermediate index for April delivery surged 6.4%, hitting the highest level since Oct-2011.

Leading the decline was India's Jet Airways, which plummeted 11.9%, as did Korean Air. Thai Airways' stock was down 10.8%.

Jet Airways reported the following traffic highlights in Jan-2011:

  • Passenger numbers: 1.7 million, -6.6% year-on-year;
  • Passenger traffic (RPKs):
    • Domestic: -15.4%;
    • Regional: -1.8%;
    • Australia: -3.1%;
    • Europe: -5.2%;
    • North Pacific: +4.9%;
  • Passenger load factor: 77.8%, -4.2 ppts;
    • Domestic: 76%, -8.8 ppts;
    • Regional: 74.1%, -3.0 ppts;
    • Australia: 75%, +0.4 ppt;
    • Europe: 83.3%, -6.9 ppts;
    • North Pacific: 83.5%, +3.9 ppts;
    • Africa: 62.3%, n/a;
  • Cargo volume: 57,666 tonnes, +7.1%;
  • Cargo load factor: 53.7%, -0.8 ppt.

Thai Airways reported the following traffic highlights in Jan-2011:

  • Passenger numbers: 1.3 million, +14.8% year-on-year;
    • Domestic: 853,449, +13.7%;
    • International: 425,847
  • Passenger load factor: 80.8%, -0.3 ppt;
    • Domestic: 73.8%, +0.3%;
    • International: 84.2%, +17%;
  • Cargo volume: 16,038 tonnes, -2.4%.

Selected APAD daily share price movements (% change): 23-Feb-2011