Oil prices rose again on Wednesday as OPEC announced it will maintain its current oil production quotas, against expectations it would lift output by 1-2 million barrels per day. Shares in US carriers were down significantly, with Republic Airways stock down 4%.
Shares in Hawaiian Airlines were flat. The carrier reported that May-2011 traffic rose 7.7% year-on-year, although load factors eased 1 ppt to 84.5%.
Latin American shares were generally lower as well, with GOL losing 3.7%, Copa Airlines down 1.8% and TAM finishing trading down 1.2%. Copa Holdings reported the following traffic highlights in May-2011:
- Passenger traffic (RPMs): +29.2% year-on-year;
- International: +33.5%;
- Domestic: -6.1%;
- Passenger load factor: 76.3%, +3.6 ppts;
- International: 76.7%, +3.3 ppts;
- Domestic: 72.3%, +4.5 ppts.
Selected AAD daily share price movements (% change): 08-Jun-2011