Aer Lingus, Aeroflot, easyJet, Lufthansa perform well in solid market. Ryanair, Thomas Cook decline
Aer Lingus (+5.7%) had one of its better days, Aeroflot (+4.2%) rose as the Russian aviation system is being overhauled, easyJet (+2.7%), SAS (+2.2%) and Lufthansa (+2.1%) each performed well.
European airline stocks are being influenced by popular feelings that the worst is over, a sentiment supported too by yesterday’s relatively strong GDP outlooks for Germany and France – although the next largest economy, the UK, still remains sluggish.
After lagging in the earlier part of the market revival, leading airline shares have kicked upwards recently, off perhaps exaggerated lows, despite higher oil prices. And now even Aer Lingus is seeing signs of life.
Thomas Cook (-4.8%) shares suffered as the Arcandor administrator gave up hope of keeping the company together, meaning that its large shareholding in Thomas Cook will be placed on the market.
Europe selected airlines daily share price movements (% change): 13-Aug-09
These pictures from Jet2’s website, highlight Ryanair’s additional charges: