Signs emerge Asian airlines may take off with easing lockdowns

Japan Airlines Co surged as much as 11% yesterday, the most since 2016, while ANA Holdings was up as much as 8% after the government ended its nationwide state of emergency. JAL is on a six-day winning streak and is up 23% over that period.

TOKYO: One notable industry yet to join the Asian equity rebound is airlines, hit especially hard by global restrictions on travel and tourism from the coronavirus pandemic.

The Bloomberg Asia Pacific Airlines Index has risen just over 5% since closing at a seven-year low on March 23, well behind the 22% gain in the MSCI Asia Pacific Index. Yet there are emerging signs the sector is ready to take off as countries across the region begin to emerge from lockdowns.