GOL’s share price gained 2.9% yesterday, as the Brazilian LCC announced an organisational restructuring designed to streamline business management and reduce the number of Vice-Presidents.
The initiative is a response to the company's rapid growth in recent years and is aligned with its strategic objectives.
Also in the Americas, Allegiant’s shares gained 1.5%, while AirTran’s shares slipped 0.7%, upon the release of the carriers’ Sep-2009 traffic results.
In the month, AirTran handled 2.0 million passengers, a 1.2% year-on-year increase, as the LCC increased capacity by 7.0%. Load factors slipped 1.3 ppts to 79.2%.
Meanwhile, the fastest growing US carrier, Allegiant, reported a 29% jump in passenger numbers in the month, as capacity (ASMs) increased by 34.2%. Load factors accordingly slipped again in the month, down 2.0 ppts to a still solid 85.3%.
Southwest’s shares slipped 0.1% on volume of 2.7 million shares. The carrier’s stock has traded within a 52-week range of USD4.95 and USD12.19. Southwest is currently below its 50-day moving average of USD9.10.
In Europe, Ryanair’s shares gained 0.8%, upon the release of the carrier’s Oct-2009 traffic results. During the month, passenger numbers were up 15% to 6.2 million, with a stable load factor of 85%,
Also in Europe, Fidelity increased its stake in Vueling to above 4%, according to a filing with stock market regulator, CNMV. The US investment fund reportedly acquired approximately 3% of the 14.3% shareholding that was placed in the market by Inversores Hemisferio last week at EUR11/per share
Selected LCCs daily share price movements (% change): 03-Nov-09
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