JAKARTA (Yosefardi) – The current falling oil price has positive impact to the airline industry, then investors collected airline stocks such as flag carrier Garuda Indonesia (GIAA).
On Monday (December 1), GIAA jumped 10.2% to close at Rp540 per share, with over 4.8 million shares exchange hands.
Cathay Pacific Air in Hong Kong also rose 3.4%, gaining 29% since October 17, 2014. While Singapore Airlines Limited fell 1.21% due to profit taking. The stock had gained 10.7% since October 20, 2014.
Nymex’s crude oil fell 2.58% to US$64.55 per barrel on Monday.