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Asian airline shares snap back - Jet Airways rises despite doubling of quarterly loss

Asian share prices rebounded on Friday after struggling for much of the week. Airline shares were no exception, despite a continuation of weak traffic reports for the sector.

Virgin Blue and Qantas advanced 6.0% and 4.7%, respectively, while Mainland Chinese airlines also had some respite. Jet Airways shares lifted 1.3% despite the carrier reporting a USD44 million loss in the Oct-Dec-08 quarter, compared to a USD23.7 million loss in the previous corresponding period.

Asia Pacific selected airlines daily share price movements (% change): 16-Jan-09