20-Oct-2010 3:46 PM

Finnair's Asian strategy 'working very well'; Air France-KLM and Aeroflot continue to gain

Analysis

Finnair (+1.0%) rose after Senior VP Sales and Marketing Mika Perho stated the carrier's Asian strategy is "working very well and is creating many opportunities for us". Finnair has confirmed plans to increase the number of direct services to Seoul, Nagoya, Osaka and Delhi from the end of 2010.

In summer 2011, the carrier will operate a record 74 weekly services to 10 Asian cities: Hong Kong 12 flights per week, to Tokyo, Osaka, Nagoya, Seoul, Beijing, Shanghai, Bangkok and Singapore daily and to Delhi with six times weekly frequency.

Air France-KLM (+0.7%) was also up for the day on further analyst comments. Credit Suisse Group AG raised its rating of the airline's shares from "underperform" to "neutral", due to an improved Sep-2010 traffic results across the industry. The gain was despite a 0.7% decline in France's CAC for the day, due to continued national strike action in the country.

Elsewhere, Aeroflot (+5.3%) continued to rise on news the Russian Government plans to privatise part of its stake in the carrier. Aegean Airlines (+3.9%) and Dart Group (+1.8%) also gained. Norwegian (-3.3%) and Lufthansa (-2.5%) suffered the biggest declines of the day.

Europe selected airlines daily share price movements (% change): 18-Oct-2010

Finnair's Asian strategy 'working very well'; Air France-KLM and Aeroflot continue to gain

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