Shares in Danish LCC, Cimber Sterling Group, fell 9.1% yesterday, the largest reduction in the past five months in Copenhagen trading, after the carrier stated it expects to report losses of up to EUR11 million in FY2010/2011.
The carrier, however, stated it expects revenues to increase by approximately 29% in the current financial year.
The Danish LCC yesterday also released its Jun-2010 traffic highlights, with the carrier handling 245,299 passengers in the month (an 11% year-on-year increase) with an average load factor of 65% (a 3 ppt reduction).
The carrier also released May-2010 yield data, with a 4% year-on-year yield reduction in the month to EUR 12.07 cents while RASK remained stable at EUR 7.51 cents. The carrier commented: “A stabilisation was seen relative to the performance in previous months, and the periods have become more readily comparable”.
Domestic yields slumped 24% in May-2010 (partially offset by a 6 ppt load factor increase to 65%), while regional yields decreased 5%. Conversely, yields for the leisure segment increased by 11%.
Also in the Nordic market, Norwegian Air Shuttle reported another month of double-digit yield and unit revenue reductions, with slumps of 16% and 17% respectively (to EUR 6.70 cents and EUR 5.21 cents respectively). The carrier commented that the RASK reduction was related to the introduce of 11 new B737-800 aircraft with higher capacity and lower unit costs since Jun-2009. Also in the month, the carrier reported a 25% increase in passenger numbers to 1.2 million with an average load factor of 77% (a 2 ppt year-on-year reduction). Its shares fell 3.3% yesterday.
Also reported traffic yesterday was easyJet, with the carrier witnessing a 9.4% year-on-year increase in passenger numbers to 4.5 million in the month, with an average load factor of 87.2% (+0.9 ppts). In the rolling 12 months ending Jun-2010 passenger numbers increased 7.0% to 47.6 million, while load factors gained 1.5 ppts to 86.7%. easyJet's shares advanced 1.9%.
Selected LCCs daily share price movements (% change): 06-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.