Sun. Dec 4th, 2022

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Asia-Pacific airline stocks take a hit

1 min read
Aviation

Airline stocks in Asia-Pacific tumbled in Tuesday trade as corona virus fears returned, with major stock markets also seeing declines.

In Hong Kong, shares of China Eastern Airlines dropped 1.98% while China Southern Airlines fell 2.86%. Cathy Pacific also slipped 0.88%. Over in South Korea, Korean Air Lines was down 2.12%. Australia’s Qantas Airways declined 2.34%. Singapore Airlines shares in Singapore also shed 1.46%.

The moves came as concerns over the outlook for travel resurface, with analysts warning that European countries are likely to impose more restrictions on public life in the coming days amid a rapid rise in the number of daily corona virus infections. The U.K. is set to reimpose some restrictions from Thursday as the country faces a second wave of infections, according to Reuters.

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