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Ryanair and Allegiant Air remain among the fastest growing LCCs in the world in Jul-2009

6-Aug-2009

LCC shares were mixed on Wednesday (05-Aug-09), as oil prices gained again, after easing on Tuesday. New York oil prices were up USD0.99 cents to settle at USD75.27 on Wednesday, while in London, oil prices gained USD0.55 to end the day at USD71.97.

Leading the LCC gainers yesterday was Air Berlin, soaring 7.0%.  Also in Europe, Ryanair gained 0.5%, while easyJet slipped 0.2%. Ryanair yesterday reported a 19% increase in passenger traffic in Jul-2009 to 6.7 million, a new monthly traffic record for the LCC, and more than double British Airways’ total network passenger levels (-1.2% to 3.2 million) and more than three times BA’s UK/Europe levels (-3.1% to 2.0 million). Ryanair’s load factors also remained solid at 89%, as the carrier continued to stimulate demand through its seemingly never-ending price promotions. 

Another fast growing LCC is Las Vegas-based Allegiant, which reported a massive 37.3% year-on-year increase in scheduled passenger numbers in Jul-2009, as capacity (ASMs) soared by 50% in the month. Load factor slipped 5.6 ppts to a still industry-leading level of 89.6%. Allegiant's shares were down 2.4% yesterday, while the largest US LCC, Southwest, gained 3.6%.

In the Asia Pacific region, Virgin Blue slumped 5.0%, with AirAsia also down, by 4.8%. 

Selected LCCs daily share price movements (% change): 05-Aug-09


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