Malaysia Airlines shares continue to dive
Investors have continued their sell-off of Malaysia Airlines shares, with the stock losing another 6.9% on Monday, after heavy falls late last week. The carrier reported a USD88 million 1Q2011 operating loss, after higher fuel prices and lower cargo revenue bit into the carrier's bottom line.
Thai Airways reported the following traffic highlights in Apr-2011:
- Passenger numbers: 1.5 million, +8.8% year-on-year;
- Passenger load factor: 71.8%, -0.3 ppt;
- Cargo volume: 58,903 tonnes, +3.0%;
- Cargo load factor: 58%, -4.4 ppts.
EVA Airways Corp agreed to plead guilty to conspiracy to fix prices in air cargo markets and pay a USD13.2 million criminal fine, according to the US Department of Justice. The US DoJ has now laid charges and fines against 22 airlines and 21 executives. Shares in EVA Airways were up 4.1% on Monday.
Selected APAD daily share price movements (% change): 30-May-2011