Thomas Cook Group has received long-term corporate credit ratings of BB- from Standard & Poor's and Fitch. Shares in the company were up 5.9% in trading on Wednesday, the strongest single-day increase in the company's shares in almost 11 months. Shares in the group, which operates airlines and tourism companies across Europe, are down 15.4% for the year to date.
Nefinsa SA sold its entire 4.15% stake in Vueling Airlines at EUR9.5/share, according to Fidentiis Equities, which conducted the sale. Fidentiis had been mandated to sell Nefinsa's stake in the LCC via a book-building exercise. The company's agreement with Iberia Lineas Aereas de Espana SA to remain a shareholder in Vueling until 15-May-2011 terminated on 31-Mar-2011.
Aeroflot stated it may post a profit of RUB10.5 billion (EUR369 million) for 2010. Shares in the carrier slipped 0.1% on Wednesday.
Selected European airline daily share price movements (% change): 30-Mar-2011
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.