(Yicai Global) Nov. 29 -- Aviation stocks plunged in Shanghai and Shenzhen, following their overseas peers in New York, after the latest Covid-19 mutation Omicron surfaced in South Africa, resulting in predictions of a continued state of limited travel options during the upcoming Chinese New Year.

The group of today's losers included the operator of Shanghai's Pudong and Hongqiao international airports. Shanghai International Airport [SHA: 600009] closed 6.7 percent down at CNY43.99 (USD6.90). Moreover, Guangzhou Baiyun International Airport [SHA: 600004] was 6.5 percent down at CNY10.98.

The club had airlines. Shares of flag carrier Air China [SHA: 601111] closed down 3.2 percent. China Southern Airlines [SHA:600029] fell 3.7 percent. Shares of Juneyao Airlines [SHA: 603885] ended the day 5.4 percent lower.

Several aviation industry professionals said to Yicai Global that Omicron may have limited impacts on China's current international flight routes but it could delay the reboot of suspended international flights even further.

Tens of countries and regions around the world have revealed plans to stop flights and travelers who have recently been staying in southern parts of Africa from entering after the new mutation was reported to the World Health Organization on Nov. 24.

"Omicron's rates of transmission and fatality, and whether existing vaccines and oral drugs are still effective remain unclear for now, with more data possibly to be disclosed in the next two weeks," Lin Zhijie, aviation industry professional, said to Yicai Global.

China is still fighting the previous variant. More than 30 percent of flights between Shanghai and Guangzhou and more than half of all flights between Shanghai and Shenzhen were canceled after the eastern metropolis reported three locally transmitted cases involving the Delta variant on Nov. 25.

The resolve to stay healthy is timely as the world's second-largest economy is expecting to celebrate the highlight of the lunar calendar, Chinese New Year, on Feb. 1, 2022. Over the past two years, the pandemic has prompted millions of people to avoid making holiday travel plans.

Overseas, the new variant may limit people from booking trips as far as till summer holidays. People are making Christmas travel plans now, and the Covid-19 uncertainty could also weigh on bookings for next summer, said Michael Kevin O'Leary, chief executive of Ryanair.

But in some ways, the crisis may actually help airlines. International crude oil futures slumped 13 percent on Nov. 26 after the latest mutation was found. Meanwhile, China's crude oil futures traded on the Shanghai International Energy Exchange hit a daily limit down on Nov. 26.

Aviation companies, many of which have blamed their narrowed profits on increased costs partly due to fuel price surges, could benefit from jet fuel discounts after suffering from price hikes since early this year.

Editor: Liao Shumin, Emmi Laine, Xiao Yi