Commuter airlines were worst hit, although the majors also suffered. But, after losing ground, Norwegian Air Shuttle (+7.4%), Cimber Sterling (+6.5%) and SAS (+5.8%) all recovered strongly on Friday 2-Jul-2010, as industrial relations fears waned. This could signal a return to a more stable airline atmosphere among the Scandinavian airlines.
Since peaking at NOK133.00 in mid-Jun-2010, Norwegian Air Shuttle shed more than a quarter of its value as the strike fallout spread, bottoming at NOK97.75 on 01-Jul-2010 and rebounding to NOK105 on Friday. SAS also declined during the month, from SKR29.5 to SKR24, regaining SKR1.5 on Friday.
With markets generally up across Europe on the day (in contrast with Wall Street, where another sombre trading day led into the Independence Day weekend), most airline shares performed well. Turkish Airlines (+3.5%), Air Berlin (+3.1%) and Ryanair (+3.0%) were the larger winners. See related report: End of an era: Ryanair continues shift away from UK/Ireland
Europe selected airlines daily share price movements (% change): 02-Jul-2010
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.