Asia-Pac airline stocks steady despite jet fuel turbulence
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Nisha Ramchandani
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SHARE prices of Asia-Pacific carriers remained largely stable last month compared to May, while global airline shares underperformed the broader market.
Rising jet fuel prices saw global airline shares slip 2 per cent in June, while the FTSE Global All Cap edged up 3 per cent over the same period, according to the latest financial monitor report by the International Air Transport Association (Iata).
Shares in Singapore Airlines (SIA) closed at $10.39 yesterday, down one cent, while Hong Kong's Cathay Pacific and Australia's Qantas ended the day's trading two Hong Kong cents lower at HK$14.22 and one Australian cent lower at A$1.205 respectively.
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