Business Daily from THE HINDU group of publications
Wednesday, Apr 29, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Wednesday, Apr 29, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Markets
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Stocks Logistics - Airlines Industry & Economy - Health
Shubhra Tandon Mumbai, April 28 Fears of a swine influenza pandemic dragged airline stocks down on Tuesday. In India and across the globe the scare that the viral infection could further hamper the already sagging travel and tourism industry saw share prices of airlines in the red. Naresh Goyal-owned Jet Airways’ stock price dipped 4.30 per cent to close at Rs 192.50 on the Bombay Stock Exchange on Tuesday. Vijay Mallya-owned Kingfisher Airlines witnessed a sharper fall as the share price dropped 7.58 per cent to Rs 36.60. SpiceJet also fell steeply by 8.61 per cent to close at Rs 14.12. Around the world“The fear that swine flu will have an impact on the overall travel and airline business saw the airline stocks fall,” Mr Mahantesh Sabarad, Senior Analyst from Centrum Broking, told Business Line. Fall in stocks of airline, hotels and cruise operators was witnessed across the globe. According to foreign media reports, US airlines, which were most heavily exposed to Mexico, suffered big losses in trading. Continental Airlines, American Airlines parent AMR Corp and US Airways Group, which carry large number of passengers to Mexico, also suffered on Tuesday’s trading. Asian carriers Cathay Pacific Airways, Air China and AirAsia also suffered losses. In Europe, stocks of British Airways and other carriers fell on same fears. According to reports, shares of US hotels and cruise operators also fell as some market analysts suggested they could be most hurt among travel and leisure companies of a swine flu outbreak occurs worldwide. More Stories on : Stocks | Airlines | Health
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