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What's bad for energy is good for airliners

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airplane1 January 6, 2015 (Chinavestor)The Dow Jones Industrial Average plunged over 300 points as oil prices tumbled to over 5 year lows on Monday. The slide continued overnight as US oil futures fell below $50 with a negative price outlook. Oil stocks followed suit, CNOOC Ltd. (NYSE:CEO) fell as much as $2.98 on Monday. CNOOC Ltd. (NYSE:CEO) is China's offshore oil specialist with no refining capacity of her own and thus is hurting when oi prices fall. But Sinopec (NYSE:SNP) and Petrochina (NYSE:PTR) remained essentially flat on Monday because their downstream operation can theoretically make up for some of the losses on oil production. Despite for falling oil stocks and the general market, some China stock investors had a reason to cheer. Chinese airliners, China Eastern Airlines (NYSE:CEA) and China Southern Airlines (NYSE:ZNH), continued to trade at 5 year highs. As a matter of fact, China Southern Airlines (NYSE:ZNH) advanced $1.90 or 8.14% on Monday, the most among any other Chinese ADRs. Airliners enjoy falling oil prices because falling kerosene prices shoot up bottom line for airliners. Kerosene is the single largest cost item at any airliners' income statement. China Eastern Airline (NYSE:CEA) advanced $1.16, or 9.60% to $ 24.94 on Monday.

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Technology stocks suffered on Monday. Baidu Inc. (NASDAQ:BIDU) fell $3.30, the most among other Chinese ADRs. Alibaba Group (NYSE:BABA) followed suit, BABA fell $2.60 to $ 101.00. The stock is going to be testing the $100 resistance level.



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