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Lufthansa, Austrian, Air France-KLM and British Airways have seen better days

18-Aug-2009

European airline stocks declined yesterday, but the falls were generally not as bad as the benchmark European bourses. Shares in Lufthansa lost 1.0%, while the Frankfurt DAX closed 2.02% lower.

The German carrier is expected to encounter difficulty in wage negotiations with its pilots, which are demanding a 9.6% salary increase and more influence in strategic decision-making, including the acquisition of Austrian Airlines. Austrian’ shares remained flat, declining just 0.2% yesterday.

Air France-KLM remained weak, its shares 1.4% lower, as the Paris CAC Index declined 2.16%. Elsewhere, British Airways dipped 1.0%, while the London FTSE 100 closed 1.46% lower.

Europe selected airlines daily share price movements (% change): 17-Aug-09


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