The majority of North and South American carriers’ shares fell on Tuesday (30-Mar-2010), as investors have become cautious ahead of the latest unemployment report, to be released this week. The AMEX Airline Index fell 0.9% as a result.
The Dow (+0.1%) meanwhile moved slightly higher, after The Conference Board announced during trading that the US Consumer Confidence Index rebounded in Mar-2010 to 52.5, after decreasing to 46.4 in Feb-2010.
Republic Airways (+2.2%) made one of the day’s biggest gains, as was Copa (+2.3%) after China Analyst identified the carriers as two of the top air transport stocks with the highest cash flow per share.
According to the analysts, Copa had a cash flow of USD6.58 per share for the last 12 months, while Republic had a cash flow of USD5.69 per share over the same period. See related report: Republic Airways' relationships gaining complexity
Alaska Air (-0.1%) meanwhile slipped, despite also being identified as having a high cash flow of USD9.44 per share.
Hawaiian Airlines falls
Hawaiian Airlines (-1.2%) fell. The Hawaii Tourism Authority announced during trading that total visitor arrivals rose 0.7% year-on-year in Feb-2010, to 531,094, as tourist arrivals by air rose 0.8%, to 817,554.
TAM to become 27th member of Star Alliance in May-2010
TAM (-2.2%) shares took the day’s biggest fall. During trading the carrier confirmed it will enter the Star Alliance on 13-May-2010, as the alliance’s 27th member.
America Airline Daily is your one-stop shop for news, data and analysis from the dynamic North American, Caribbean and Latin American aviation markets. Other stories available in today’s issue include:
- IBM to design and build cyber security system for the US FAA;
- United Airlines to add a sixth flight to its San Luis Obispo County Regional Airport service;
- Air Canada requires 72 slots at Canada’s Billy Bishop Toronto City Airport;
- WestJet reportedly in talks with Delta Air Lines to form a codeshare.
North & South America selected airlines daily share price movements (% change): 30-Mar-2010