Market Check: Boeing just can’t catch a break

Wittman Regional Airport, Oshkosh, Wisconsin, USA - July 29, 2011: Boeing 787 taxing to runway for takeoff at the Air-Venture airshow.

What’s that? It’s Friday once again and you’re here to get the latest on how travel stocks are performing?

Well we couldn’t be more excited to come back with the hot gossip on the industry (and by hot gossip we mean publicly available information that anyone can access).

The below numbers and analysis are taken from this morning’s price for each stock and compared to last Friday morning’s price.

Qantas got the week off to a shocking start with a three and a half per cent drop on just Monday alone! The carrier slowly ascended back to cruising altitude but it didn’t manage to turn the red airline black (financially speaking). And while its livery isn’t red, Rex certainly was in the red this week with a 1.16 per cent drop.

It was a bit of a nothing week agency side with Flight Centre and Helloworld both jumping less than half a per cent while Corporate Travel Management outdid its predominantly consumer facing counterparts with a 1.96 per cent rise. Meanwhile Webjet saw a respectable bump of 0.7 per cent.

And if you can believe it, Boeing was not the worst performing stock on this list, despite its latest barrage of controversy. Star has suffered a tumble of 7.41 per cent as it continues on its downward trajectory that has seen the hotel and casino operator loose two thirds of its share price in 12 months.

Air New Zealand, for the second week in a row, didn’t report a change in its opening and closing price, while Auckland Airport saw a drop of nearly two per cent.

Over in the United States, Boeing reported another shocker, dropping 7.19 per cent. Following the door of an Alaska Airlines MAX 9 blowing off mid-flight, the plane manufacturer has dropped a total of 15 per cent, wiping US$35b off its market cap since the start of the year. The company did rise five and a half per cent since Tuesday so it’s not all downhill for Boeing.

American Airlines suffered a blow to its share price, falling four and a half per cent and while it’s not on this list, Spirit Airlines, which had its proposed merger with JetBlue blocked earlier this week, saw a staggering drop of 63 per cent over the past week. JetBlue’s stock, however, jumped around during the week, but ended with a 0.2 per cent rise.

On the high seas there wasn’t much change. NCL dropped 0.28 per cent, Carnival dropped 1.56 per cent and Royal Caribbean, which has garnered a bit media attention due to the imminent launch of its whopping ship Icon of the Seas, bucked the trend and rose two per cent. Meanwhile, Hilton continued on its seemingly never-ending upward trajectory with a 1.64 per cent rise.

Check out the hard numbers below!

CompanyOpening priceClosing priceChange (%)
Qantas Airways Ltd (ASX: QAN)$5.39$5.21– 3.34
Flight Centre Travel Group (ASX: FLT)$20.54$20.63+ 0.44
Helloworld Travel Ltd (ASX: HLO)$2.34$2.35+ 0.43
Webjet Ltd (ASX: WEB)$7.17$7.22+ 0.70
Corporate Travel Management Ltd (ASX: CTD)$19.87$20.26+ 1.96
Star Entertainment Group Ltd (ASX: SGR)$0.54$0.50– 7.41
Regional Express Holdings Ltd (ASX: REX)$0.86$0.85– 1.16
Air New Zealand Ltd (ASX: AIZ)$0.60$0.600.00
Auckland International Airport Ltd (ASX: AIA)$8.07$7.91– 1.98
American Airlines Group Inc (NASDAQ: AAL) (USD)$14.48$13.82– 4.56
Boeing Co (NYSE: BA) (USD)$228.01$211.61– 7.19
Carnival PLC (NYSE: CUK) (USD)$15.98$15.73– 1.56
Hilton Hotels Corporation Common Stock (NYSE: HLT) (USD)$182.72$185.71+ 1.64
Norwegian Cruise Line Holdings Ltd (NYSE: NCLH) (USD)$17.56$17.51– 0.28
Royal Caribbean Cruises Ltd (NYSE: RCL) (USD)$122.82$125.28+ 2.00

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