久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

Airline stocks stay grounded despite oil price slump

Updated: 2014-10-31 07:57

By Sophie He in Hong Kong(HK Edition)

  Print Mail Large Medium  Small

The oil price plunge in international markets is not expected to benefit the prices of airline shares on the Hong Kong bourse in the short term, stock analysts said.

After a steady buildup of supply and weakening demand, international oil prices have declined by more than 20 percent since June this year. The price of Brent crude, the global benchmark, fell to $82.6 a barrel on Oct 16 - the lowest in almost four years - from $115.71 on June 19.

Airlines are expected to benefit most from falling oil prices, as fuel costs are their largest expense item, accounting for 30 to 40 percent of operation costs, according to a research report released by SWS Research Co on Wednesday.

Jet fuel price is historically closely related to oil price. Weak fuel prices will help domestic airlines save operation costs and increase profits, the report said.

Nevertheless, the prospects of the mainland three major airlines - Air China, China Eastern Airlines and China Southern Airlines - look anything but rosy. Their stock prices didn't see any meaningful increase in the past months, and it's unlikely to happen anytime soon, stock analysts said.

Airline stocks stay grounded despite oil price slump

"Domestic airlines are certainly paying less for fuel, but their share prices are influenced by many other factors," Dickie Wong, executive director of research at Kingston Securities Ltd, told China Daily.

"Airlines' share prices usually reflect their overall operating situations, including passenger load factor, cargos they have carried and financial results," said Wong, adding that the domestic airlines have not had a fantastic time so far this year. The depreciation of the yuan earlier this year didn't help either," he said.

Wong explained that domestic airlines' interest-bearing liabilities are usually dollar-denominated while their assets are yuan-denominated. For that reason, a weaker yuan against the US dollar will result in exchange losses for domestic airlines, he said.

China Eastern Airlines, which reported its financial results for the third quarter of 2014 on Wednesday, posted a 26.7 percent decline in profit from the same period a year earlier to 2.04 billion yuan ($333.5 million). Its revenue during the period was 26.14 billion yuan - up 2 percent.

But analysts are expecting domestic airlines to fare better next year.

According to a research report by China Galaxy Securities Research, every 10 percent drop in the fuel price can be translated into a saving of between 3 billion yuan and 3.5 billion yuan for carriers. Meanwhile, economists are foreseeing a two percent appreciation of the yuan against the US dollar from mid-2014 to mid-2015.

"We believe that as the crude oil price is still trending lower, the exchange gain will have a notable positive effect on domestic airlines' financial results for the first half of 2015. We expect domestic airlines to see positive profit growth in the first half 2015," the China Galaxy report said.

sophiehe@chinadailyhk.com

 Airline stocks stay grounded despite oil price slump

espite favorable exchange rates and a drop in jet fuel prices, share prices of airline companies have changed little as the companies' operation strategies and methods remain the biggest concern among investors. AFP

(HK Edition 10/31/2014 page5)

久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

    欧美日韩精品一区二区三区| 2023国产精品自拍| 五月天激情综合网| 91精品国产综合久久久久久 | 欧美日韩在线播放| 老色鬼精品视频在线观看播放| 久久久综合精品| 成人性生交大合| 一区二区三区不卡视频在线观看| 91 com成人网| 国产在线播放一区二区三区| **欧美大码日韩| 欧美日韩成人综合| 国产精品综合网| 亚洲人成人一区二区在线观看| 欧美精品vⅰdeose4hd| 激情深爱一区二区| 日韩毛片视频在线看| 欧美夫妻性生活| 懂色一区二区三区免费观看| 亚洲一区二区美女| 久久天天做天天爱综合色| 91香蕉视频在线| 久久er99精品| 亚洲欧美一区二区三区孕妇| 欧美一级黄色大片| eeuss影院一区二区三区| 日韩国产一二三区| 欧美国产乱子伦| 欧美日韩一区成人| 大白屁股一区二区视频| 亚洲.国产.中文慕字在线| 2020国产精品自拍| 欧美亚洲一区二区在线| 国产一区二区三区免费在线观看| 亚洲美女精品一区| 精品国产sm最大网站| 在线看国产日韩| 国产一区二区三区免费观看| 亚洲国产精品久久久久秋霞影院 | 一色桃子久久精品亚洲| 欧美人成免费网站| 国产精品一区三区| 亚洲不卡av一区二区三区| 国产亚洲成av人在线观看导航 | 精品欧美一区二区在线观看| 色综合中文字幕| 精品一区二区三区视频 | 亚洲一二三区不卡| 亚洲国产精品国自产拍av| 欧美猛男超大videosgay| 成人美女在线视频| 极品美女销魂一区二区三区| 亚洲国产一区二区在线播放| 国产片一区二区三区| 欧美一区二区精品久久911| 91小视频在线| 成人综合婷婷国产精品久久 | 欧美日本不卡视频| av中文字幕亚洲| 国产精品99久| 乱一区二区av| 日韩精品一级二级| 一区二区三区丝袜| 国产精品福利一区二区| 久久久久久久综合色一本| 91精品国产综合久久福利软件| 91久久香蕉国产日韩欧美9色| 国产成人免费av在线| 国产91精品欧美| 久久国产尿小便嘘嘘| 亚洲男人电影天堂| 国产女人18水真多18精品一级做| 91麻豆精品国产| 欧美三级在线视频| 色婷婷综合久久久久中文| 国产.欧美.日韩| 国产真实乱偷精品视频免| 日本不卡视频一二三区| 亚洲国产精品尤物yw在线观看| 国产精品家庭影院| 国产欧美一区在线| 精品国产伦一区二区三区观看体验 | 91国产福利在线| 不卡av免费在线观看| 国产一区二区三区四区在线观看| 免费观看久久久4p| 日韩高清不卡一区| 亚洲18色成人| 五月激情综合婷婷| 视频一区中文字幕| 视频在线在亚洲| 日韩黄色免费网站| 午夜精品免费在线| 亚洲成在线观看| 午夜视频在线观看一区| 亚洲午夜激情网页| 亚洲午夜电影在线观看| 一区二区三区不卡在线观看| 亚洲日本va午夜在线电影| 综合亚洲深深色噜噜狠狠网站| 亚洲欧洲在线观看av| 国产精品理论在线观看| 国产精品久久毛片av大全日韩| 国产午夜亚洲精品理论片色戒 | 91高清视频在线| 91麻豆国产福利在线观看| 91视频在线观看| 一本大道久久a久久综合婷婷| 色综合久久久网| 在线影院国内精品| 欧美日韩综合在线免费观看| 欧美高清一级片在线| 欧美一区二区三区在| 日韩欧美一二三区| 久久免费视频一区| 亚洲国产成人一区二区三区| 国产精品免费视频一区| 综合久久综合久久| 一区二区三区加勒比av| 五月婷婷另类国产| 理论电影国产精品| 国产精品1区2区3区在线观看| 成人精品gif动图一区| 91麻豆视频网站| 欧美日韩国产系列| 日韩欧美一卡二卡| 久久久久97国产精华液好用吗| 国产精品日韩精品欧美在线| 亚洲天堂av老司机| 天天亚洲美女在线视频| 国内精品伊人久久久久影院对白| 成人美女视频在线观看18| 91久久精品一区二区| 欧美一区二区日韩| 久久伊99综合婷婷久久伊| 国产精品久久久久桃色tv| 亚洲免费高清视频在线| 午夜视黄欧洲亚洲| 久国产精品韩国三级视频| 成人午夜免费av| 欧美亚洲一区三区| 欧美成人乱码一区二区三区| 欧美国产精品一区| 亚洲午夜在线观看视频在线| 久久99精品一区二区三区| 成人久久视频在线观看| 欧美亚洲自拍偷拍| 久久理论电影网| 亚洲激情图片qvod| 久久99精品久久只有精品| 99久久国产综合色|国产精品| 欧美日韩大陆在线| 国产欧美一区二区三区鸳鸯浴| 亚洲黄色av一区| 精品一区二区三区日韩| 99久久婷婷国产综合精品| 在线成人免费视频| 亚洲国产精品t66y| 日韩精品欧美精品| 成人免费电影视频| 欧美一区二区人人喊爽| 国产精品午夜春色av| 日韩精品久久久久久| 成人深夜在线观看| 欧美一区二区三区免费在线看| 国产精品青草久久| 日本亚洲天堂网| 91美女在线看| www国产精品av| 亚洲成人精品影院| 高清不卡一区二区在线| 欧美日韩高清在线播放| 九九国产精品视频| 色婷婷综合在线| 久久久久亚洲蜜桃| 日韩专区中文字幕一区二区| 成人教育av在线| 日韩欧美成人一区| 亚洲一区视频在线观看视频| 国产a视频精品免费观看| 欧美高清视频不卡网| 中文字幕色av一区二区三区| 免费亚洲电影在线| 色悠久久久久综合欧美99| 久久综合九色欧美综合狠狠| 午夜电影一区二区| 91在线观看下载| 久久精品日韩一区二区三区| 日韩专区欧美专区| 色88888久久久久久影院按摩| 久久久久9999亚洲精品| 日本va欧美va欧美va精品| 在线观看一区二区精品视频| 国产精品久久久久桃色tv| 韩国一区二区在线观看| 4438成人网| 亚洲成人福利片| 色噜噜狠狠色综合中国| 亚洲国产高清aⅴ视频|