Aegean Airlines (-1.9%) was among the biggest falls in another day of mixed trading for European airline shares on Tuesday (14-Dec-2010). The carrier fell after cancelling all flights for 15-Dec-2010, due to a planned 24-hour strike by Greek civil aviation staff and air traffic controllers, as part of a general strike.
See related CAPA Profile: Air Traffic Control
TUI Travel (-0.6%) slipped after TUI AG reported a 44.9% year-on-year decline in net profit for the 12 months ended 30-Sep-2010 to EUR113.6 million. The result came on a 15.1% fall in revenue, to EUR16,350 million.
TUI Travel’s revenue was also down, falling 1.4% to EUR15,728 million. However, the company’s underlying sector EBITDA was up 10.7% to EUR506.0 million.
See related CAPA Profile: Financial Results
Cimber Sterling narrows losses
Cimber Sterling (+0.6%) made a marginal gain for the day, after narrowing its loss for the three months ended 31-Oct-2010 to EUR93,917, compared with a loss of EUR3.9 million in the previous corresponding period. It also reported an operating loss of EUR295,169 compared with a loss of EUR5.6 million in p-c-p.
The result was on a 29% year-on-year improvement in revenue for the quarter to EUR73.4 million. Operating costs were up 26% for the period to EUR46.3 million.
Cimber’s yield also rose for the quarter, up 9.4% to EUR 12.48 cents, on a 7.1% increase in revenue per ASK to EUR 8.05 cents.
Despite the improved 2Q2010-11 results, Cimber reiterated its previous forecast of an EBIT loss of DKK20-80 million (EUR2.7-) before special items
Lufthansa, Air France-KLM gain on Credit Suisse upgrade
Lufthansa (+1.7%) and Air France-KLM (+1.4%) were among the biggest gainers for the session after upgrades of their shares from Credit Suisse Group AG. Both were upgraded from "neutral" to "outperform".
Europe selected airlines daily share price movements (% change): 14-Dec-2010
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