Cargo weakness continues as a drag on Asia-Pacific carriers
European airlines' shares fall the most in July; solid growth seen in air travel volumes globally
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[SINGAPORE] European airline share prices took a hit in July, while their Asia-Pacific counterparts were weighed down by the weak cargo sector in the second quarter of the year.
According to the latest report from the Airlines Financial Monitor by the International Air Transport Association (Iata), European airlines' share prices fell the most among their global peers last month - shedding 9 per cent against June.
"In addition to overall market weakness, performance of European airlines' share prices reflects weakness in financial performance of some major carriers, which either declined on a year ago or fell short of meeting investor expectations," the report said.
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