My Account Menu

CAPA Login

Register to trial CAPA Membership!

Dark day for European shares - Air France-KLM, British Airways lead sell off

  • German recession deepening - Europe's stock markets tumble, taking airlines with them.

European shares suffered heavy losses on 14-Jan-09, with London's FTSE 100 index plunging 218.5 points (-4.97%) to 4,180.6. British Airways traded lower than the market, falling 5.4%.

France's CAC index fell 145.9 points (-4.6%) to 3,052, with Air France-KLM also underperforming the index with a 5.9% fall.

But Germany's weak economy headlined the news yesterday, with GDP estimates showing a 1.5-2.0% contraction in the fourth quarter from the third. German Chancellor, Angela Merkel, presented a EUR50 billion stimulus programme to parliament, stating, "Germany is witnessing its worst economic period in decades. It is a situation in which economic textbooks serve no purpose". The DAX index lost 214.6 points (-4.6%) to 4,422.4, though Lufthansa did slightly better, falling 3.8%.

European selected airlines daily share price movements (% change): 14-Jan-09

Want more analysis like this? CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find out more and take a free trial.