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As the post title indicates, we’d like to introduce the Bangalore Aviation Airline Stock Average (BAASA), by our count, the first officially defined Airline Stock Index. The goal of this creation is to provide a measure of global airline financial performance, and investor sentiment about the global airline industry.
In creating the index, we first picked a representative sample of 30 airlines from around the world, which are shown below broken down by region.
Asia-Pacific: Jet Airways, Korean Air, Singapore Airlines, China Southern, ANA, Korean Air, AirAsia, Qantas, Cathay Pacific
North America: United, Delta, Southwest, US Airways, jetBlue, WestJet, Air Canada, Allegiant
Europe: International Airlines Group (British Airways/Iberia), Lufthansa, Air France-KLM, Ryanair, EasyJet, Turkish Airlines, AirBerlin, Norwegian Air Shuttle
Middle East: Air Arabia
Africa: Kenya Airways
Latin America: Copa Airlines, LAN Airlines (will be replaced with LATAM once the merger is completed), Aeromexico.
The breakdown of carriers by region were taken from IATA’s breakdown of global ASKs (i.e if 30% of global ASKs occur in Asia, then Asia would be represented by 9 airlines in the index)
The BAASA Index will have a starting value of 3,000 points – the stock price of each airline on May 28th is initialized to 100 points (to normalize the different values of different currencies. Each week, we will review the change in the stock price, and then recalculate the new BAASA point value (i.e if the stock price increases 12% over a week, the new value of that airline’s stock in the BAASA index becomes 112).
That being said, here are the initial values used for the BAASA index.
| Asia-Pacific | 5/28/2012 | Lookup |
| Jet Airways | 317.55 | JET.NS |
| Singapore Airlines | 7.99 | SINGF.PK |
| China Southern | 21.09 | ZNH.N |
| ANA | 208 | 9202.T |
| Korean Air | 45,300 | 003490.KS |
| AirAsia | 3.54 | AIRA.KL |
| Qantas | 1.5 | QAN.AX |
| Cathay Pacific | 11.98 | 0293.HK |
| North America | ||
| United | 23.57 | UAL |
| Delta | 11.37 | DAL |
| Southwest | 8.76 | LUV |
| US Airways | 12.3 | LCC |
| jetBlue | 4.75 | JBLU |
| WestJet | 15.47 | WJA.TO |
| Air Canada | 0.86 | ACA.TO |
| Allegiant | 64.04 | ALGT |
| Europe | ||
| IAG(British Airways/Iberia) | 137.1 | IAG.L |
| Lufthansa Group | 10.53 | DLAKF.PK |
| Air France- KLM | 3.48 | AIRF.PA |
| Ryanair | 30.62 | RYAAY.O |
| EasyJet | 495 | EZJ.L |
| Turkish Airlines | 2.56 | THYAO.IS |
| AirBerlin | 1.8 | AB1.DE |
| Norwegian Air Shuttle | 92 | NWC.OL |
| Middle East | ||
| Air Arabia | 0.583 | AIRARABI.DFM |
| Africa | ||
| Kenya Airways | 15 | KQNA.NR |
| Latin America | ||
| Copa Airlines | 83.85 | CPA |
| LAN Airlines | 23.97 | LFL |
| Aeromexico | 20.42 | AEROMEX.MX |
