Asian airlines have been on a roll. Many have recently hit 52-week highs on anticipation of the return of a global travel boom. Cathay Pacific, Singapore Airlines, Qantas and Air New Zealand have been the strongest.
I don’t see it.
Oil is still hovering around $70 and the extremely profitable business and first class seats have been pretty empty on the Asian flights I’ve taken.
I don’t own any airlines so I was too dumb to ride the rally, but I’d be an airline seller now. Not a buyer.
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