Aer Lingus jumps at plans to stabilise its long-haul fleet, British Airways and Air France-KLM gain
Aer Lingus’ shares gained 4.4% yesterday as the carrier reached an agreement with Airbus, allowing the carrier to stabilise its long-haul fleet at eight aircraft up to 2013 and significantly reduce its capital commitments over the next three years.
The plan includes adjustments to the delivery schedule of three A330s and Aer Lingus’ first two A350s, as well as adjustments to the pre-delivery payment schedule for the aircraft, reflecting changes to deliveries. The carrier has also reached an agreement to reduce its current long-haul fleet through early termination of existing fleet agreements with respect to two A330s. A single aircraft is being made available to invest in a JV with United Airlines to operate service between Washington and Madrid.
Elsewhere, shares in British Airways closed 3.2% higher. Air France-KLM rose 4.3% yesterday, while Lufthansa gained 0.6%, as the Paris CAC Index and Frankfurt DAX closed virtually flat.
Europe selected airlines daily share price movements (% change): 04-Aug-09
