Airline Share Prices Up 2.3 Pct In December, Says IATA

KUALA LUMPUR, Jan 13 (Bernama) -- Worldwide airline share prices rose 2.3 per cent in December, outperforming the wider global equity market over the second half of 2016. This outperformance was led by North American shares, on renewed optimism that such airlines can stabilise unit revenue in 2017, according to the International Air Transport Association (IATA). IAITA released its Airline Financial Monitor report for November-December 2016 today. Overall, global airline shares fell by 5.7 per cent during the course of 2016, having lagged behind the wider global equity market during the first half of the year. "European airline share prices rose by 3.3 per cent in December, but the Asia Pacific index fell for the tenth time in 12 months (-3.3 per cent). "But the recovery in airlines shares from their June low means that the margin of underperformance has narrowed markedly in recent months," IATA said. Meanwhile, annual growth in industry-wide passenger traffic accelerated to a nine-month high of 7.6 per cent year-on-year in November, while, global air freight volumes increased by a robust 6.8 per cent year-on-year in November, underlining the strong 2016 peak season for air cargo. -- BERNAMA