View Full Version : Virgin Blue shares go ballistic

9th Jan 2004, 12:37
Just been following the DJ shares today and have noticed
that at the close they have done 938 trades against a normal
130-150 a day, not to mention a massive 13c rise to $2.59
which is a 5.29% rise for the day.

looking all over the wire services I can find zilch what has caused
this, one would think that something big is in the wind.

Any rumours anyone?


9th Jan 2004, 12:51
Airline stock, at times, move in very strange directions. Just ask any long suffering QAN shareholders !:(

Transition Layer
9th Jan 2004, 13:07
From the Sydney Airport Message Board, unsure of original source though...

Thai Airways to select partner for low-cost airline January

Thai Airways International PCL Wednesday said it will select a partner to jointly set up its low-cost airline within this month.

The national carrier's Chairman Thanong Bidaya told reporters that the joint-venture company is expected to be established by the second quarter.

"We will select a partner for a low-cost airline and submit to the board within this month," Thanong said. However, he declined to name the potential partner.

Local newspaper reports, citing a Thai Airways' official, reported late last year that the company was in talks with three foreign and four domestic airlines.

Richard Branson's Virgin Blue Holdings Ltd. (VBA.AU), a domestic airline in Australia, was also mentioned as one of three potential foreign partners Thai Airways is talking to.

Thanong hinted that the partner may be a foreign airline as he said he wanted a professional partner to help Thai Airways' low-cost airline to compete in the regional market.

Some analysts have recently expressed concerns over Thai Airways' performance at home as AirAsia Aviation Co., jointly owned by Malaysia's AirAsia Sdn. Bhd.(AIA.YY) and Thai telecommunication firm Shin Corp. PCL (SHIN.TH), will start domestic flights in Thailand early this year.

Thanong, however, said Thai Airways' market segment will be separate from the low-cost segment.

"The low-cost airline will help boost our revenue, which is already good," he said.

Thanong earlier said the budget airline will initially need two or three planes, which are likely to be leased from Thai Airways. The budget airline will serve four possible destinations: Bangkok, Phuket, Chiang Mai and Udon Thani.

The low-cost airline is expected to have an initial registered capital of 200 million baht, with Thai Airways holding a 25%-49% stake in the low-cost carrier.

9th Jan 2004, 13:16
Transition Layer

Thanks, if memory serves me correct DJ was also in talks with
AirAsia in Malaysia as well, but if a deal has been done don't
they have to inform the ASX?


10th Jan 2004, 01:04
Ahh speculative trading at its best..... 5% in a days trade is hardly a massive movement given vb's low mc. Its a Friday thing.....expect a stumble on Monday!!:ok: