Latin American airline stocks were mixed yesterday, led lower by LAN and TAM (both down 1.8%).
LAN's stock has fallen since it announced at the start of the week that it would suspend non-stop Santiago-Toronto service in early-Apr-2011 due to rising crude oil prices. In Feb-2011, the company stated it will increase ticket prices for its international routes between 8% and 12%.
Banco Santander SA stated jet fuel costs have the potential to “significantly impact” the profitability of Latin American airlines. Zacks Equity Research reiterated (28-Mar-2011) its neutral recommendation on GOL. Its shares were virtually flat.
US airline shares were mixed, led lower by Hawaiian and Southwest (both down 0.8%) and higher by American Airlines (+2.6%).
Selected American airlines daily share price movements (% change): 28-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.