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Norwegian reports industry-leading operating margin, V Australia and Jetstar to operate to Fiji


Norwegian Air Shuttle’s shares rose 4.0% on Friday, following Thursday’s 4.5% gain, following the release of its 3Q2009 results, in which the carrier reported a net profit of EUR45 million and an operating profit of EUR57 million (-10% and +146%, respectively), for an 11 ppt operating margin to an industry-leading 21%.

Also in Europe, easyJet’s shares were up slightly (+0.3%), while Ryanair’s shares slipped 0.9%.

V Australia and Jetstar to operate Australia-Fiji services

In the Australian market, Virgin Blue’s shares were up 3.6% yesterday, with Qantas’ shares also gaining (+1.0%).

On Friday, Australia's International Air Services Commission released its draft determinations on seat allocations Fiji route, proposing to allocate 907 seats per week to V Australia and 852 seats per week to Qantas (for Jetstar). V Australia had originally applied for 1,267 seats on the route, while Jetstar had applied for 1,491 seats. See separate report: Australia-Fiji: V Australia and Jetstar authorised to operate

Economic and traffic recovery in Brazil

GOL’s shares were up 2.3% on Friday, reflecting a stronger Brazilian market, after economic data revealed that Brazil's jobless rate fell sharply in Sep-2009, well below forecasts, and pointing to a faster rate of recovery than most other major economies. The jobless rate is now back to where it was before the global financial crisis. See related article: Brazil leading Latin American traffic recovery

Selected LCCs daily share price movements (% change): 23-Oct-09

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