Shares of Cathay Pacific Airways Ltd, Korean Air Co and other Asian carriers fell after China reported four new suspected SARS cases in Beijing, renewing concerns the disease may crimp leisure and business travel.
Cathay Pacific's shares dropped 3.7 percent to HK$14.35 (US$1.84) and Korean Air slipped as much as 4.2 percent to 17,150 won (US$14.88) in Seoul.
Cathay Pacific and other Asian carriers had record first-half losses last year when the disease discouraged people from traveling. Airline shares probably won't plunge by the same extent as last year's outbreak, when SARS infected 8,098 people worldwide and killed 774 people, analysts said.
"It's very unlikely travel demand will be undermined by SARS this time as it was last year because we know what to expect," said Song Jae-hak, an analyst at LG Investment & Securities Co. in Seoul.
"Last year, SARS was something we didn't know much about, but now we do," Song said.
Shares of China Southern Airlines Corp, China's largest carrier, dropped as much as 4.1 percent to HK$3.50 in Hong Kong.
EVA Airways Corp (長榮) fell as much as 3.2 percent to NT$15.30 (US$0.46).
Asiana Airlines Inc, South Korea's second-largest carrier, slipped as much as 2.9 percent to 2,825 won in Seoul, while Thai Airways International, fell as much as 3.2 percent to 61 baht (US$1.54) in Bangkok.
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