British Airways’ shares soared 5.5% yesterday, as the carrier secured support for a share sale to boost the carrier’s finances and its pilots accepted GBP26 million in cost saving measures. Investors also welcomed Iberia’s renewed willingness to progress merger negotiations.
BA is reportedly willing to accept an ownership deal for its merger with Iberia of close to 50-50 ownership. A resolution of ownership levels, which has been a major obstacle to the merger, would likewise be welcomed by Iberia. The Spanish carrier’s shares gained 3.7% yesterday.
Elsewhere, Lufthansa was up 2.2% as trade on the Frankfurt DAX gained momentum (+3.19%), while shares in Air France-KLM rose 1.5% as the Paris CAC Index closed 2.31% higher.
Europe selected airlines daily share price movements (% change): 13-Jul-09
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