Loading

Lufthansa, Air France-KLM and British Airways shares all decline

Analysis

European airline stocks generally declined yesterday, as European markets lost ground and carriers reported few signs of a traffic recovery.

The Frankfurt DAX closed 1.33% lower, the Paris CAC Index was down 1.10% and London's FTSE 100 dipped 1.02% yesterday.

Shares in Lufthansa declined 1.3% yesterday, as Member of the Board, Thierry Antinori, told Handelsblatt that a reduction in demand from leisure passengers may cause a decline in its traffic going forward.

Air France-KLM Director General for Italy, Francis Richard, meanwhile told a parliamentary hearing in Rome that there are "no signs of an early recovery in bookings in the next few months" at a worldwide level. Shares in the carrier rose 0.4% yesterday. Air France-KLM Group is also planning a bond sale. The Group reportedly appointed BNP Paribas SA, Calyon, HSBC Holdings Plc, Natixis and Societe Generale SA to manage the sale.

Elsewhere, shares in British Airways were down 1.0% yesterday. BA CEO, Willie Walsh, stated the carrier does not expect the UK market to commence recovery before mid-2010. Mr Walsh told Reuters, "we have reached the lowest point. Demand has stabilised. But a recovery can not be identified yet. Without a question, we need to become more efficient."

Europe selected airlines daily share price movements (% change): 13-Oct-09

Want More Analysis Like This?

CAPA Membership provides access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More