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European markets improve on Friday after hit by Dubai World fallout

30-Nov-2009

European airline stocks saw some recovery on Friday, as the European markets improved, following declines on Thursday last week from the Dubai World fallout.

The Frankfurt DAX gained 1.20%, the Paris CAC Index closed 0.84% higher, while the London FTSE 100 rose 0.99% on Friday. Shares in Lufthansa gained (+0.5%), Air France-KLM were up (+2.4%) and British Airways increased (0.3%).

British Airways announced plans on Friday to conduct ground tests of a range of biofuels, in co-operation with Roll-Royce, in 2010. British Airways will purchase up to 240 tonnes of four different biofuels for its research.

Meanwhile, Thomas Cook Group led the way up, jumping 4.6%, while Aegean Airlines lost 5.8% on Friday.

Ryanair CEO still keen to take over Aer Lingus

Shares in Irish carriers, Aer Lingus (+2.3%) and Ryanair (+3.2%) gained on Friday, as Michael O’Leary, the Ryanair CEO told RTE Radio, he would like to see a Ryanair takeover of Aer Lingus prior to his retirement. Mr O’Leary, who has delayed his projected retirement date several times, now expects to retire in two to three years.

Turkish Airlines sees its future with international alliances

Shares in Turkish Airlines gained 1.3% on Friday, as its Director for the Czech Republic and Slovakia, Fatma Y Celer, stated the future of the airline belongs with international alliances that will enable the carrier to compete in terms of its network offering and pricing. Turkish Airlines is a member of the Star Alliance.

Meanwhile, Jat Airways General Director, Sr an Radovanovi, reportedly stated that Turkish Airlines is the most serious candidate to become a strategic partner to Jat Airways. Mr Radovanovi stated Turkish Airlines was interested "in any form of strategic partnership", and that the decision could be made by 20-Dec-2009.

Europe selected airlines daily share price movements (% change): 27-Nov-09

 


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