SGX, Changi Airports International launch index for global travel, aviation stocks, Companies & Markets News & Top Stories

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Singapore (Opening Hours) – The Singapore Stock Exchange (SGX) and Changi International Airports (CAI) have launched the iEdge-GateEq Aviation & Travel Index, a market capitalization-weighted index covering the 50 largest listed companies in the global travel and aviation industry.

These are the revenue generating companies from six sectors, namely airport infrastructure and services; Airlines; Original Equipment Manufacturer and System Providers; Air freight and logistics; Travel and reservation services. And hospitality.

The top 10 components in the index are UPS, Booking Holdings, Airbus, FedEx, Deutsche Post, Safran, Airbnb, Marriott International, Southwest Airlines and Hilton Worldwide. SGX will review the components of the index on a quarterly basis.

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The tradable index aims to achieve long-term growth related to global aviation and travel. This came as borders reopened and travel restrictions eased, SGX and CAI said in a joint media statement on Thursday (November 25).

They noted that the index reached pre-Covid-19 levels in October 2021, driven by a rise in hospitality, travel and reservations stocks. However, airline and air freight stocks are still lagging.

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SGX developed the index as part of the iEdge family of products in a “first of its kind” collaboration with GateEq, a CAI strategy initiative. CAI is the advisory and investment arm of the Changi Airport Group.

Ng Kin Yee, managing director and head of data, communications and indexes at SGX, said the aviation and travel sector is being closely watched by investors seeking post-pandemic growth.

He added, “While growth across the industry may be uneven, we hope that this indicator will serve as a benchmark and source of insight for investors and the broader industry, and we certainly look forward to this continuing partnership with CAI.”

Eugene Gan, CEO of CAI, said: “Although Cairo International Airport has established a global footprint covering many airports across different regions, we believe this is the first occasion in the world that the airport group has worked with a leading index market provider to provide such This unique solution. for the financial market.”

Shares of SGX were trading four cents, or 0.4 percent, down at $9.25 at 2.43 pm Thursday.

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