European airline shares were mixed on Friday (28-May-2010) as wider markets slipped and oil prices declined 0.8% to USD73.97.
Aeroflot not considering stakes in foreign airlines
Aeroflot (-1.1%) fell. CEO, Vitaly Savelyev, confirmed the carrier no longer has any interest in acquiring shareholdings in carriers outside Russia. The carrier considered purchasing shares in Alitalia, Austrian Airlines and JAT Airways in the past. But it recently agreed to take control of six regional carriers from state technology company, Rostekhnologii. A structure of that agreement has not been finalised.
Also in Russia, the country’s Federal Aviation Agency reported a 32.4% year-on-year rise in passenger number for Apr-2010, to 3.8 million. Load factor also rose 6.2 ppts to 76.1% for the month.
Turkish Airlines agrees to wage increases
Turkish Airlines (+2.8%) gained after avoiding strike action from its staff last week. The carrier agreed with Hava Is, the union representing 11,000 workers at the carrier, to a 6% wage increase over the first half of 2010 and a 5% wage increase over the second half of the year.
The union last week gave Turkish notification of its intent to strike over wages and working hours. The notification triggered a 60-day negotiation period. Under Turkish law, six-days notice is required before a strike can be held.
Cimber Sterling gains, SAS falls
Elsewhere, Cimber Sterling (+7.7%) was the biggest gainer of the day, shrugging off a 0.7% fall in the Copenhagen Stock Exchange. All other Nordic stock exchanges moved higher. However, SAS (-3.5%) closed lower.
- Aer Arann returns to Shannon Airport;
- British Airways cabin crew launch second five day strike;
- Air France to increase capacity to Oslo;
- TAP to commence Marrakesh service on 01-Jun-2010;
- Russia to subsidise regional carriers;
- UTair Aviation approves 2009 dividend.
Europe selected airlines daily share price movements (% change): 28-May-2010
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