Aeroflot sinks, Iberia steady, Ryanair soars – SHARE WRAP
Ryanair’s shares soared 4% yesterday (taking gains so far this year to 11%), as CEO, Michael O’Leary, stated he expects the carrier to report a “substantial” increase in profit this financial year, despite a 10-15% reduction in yields. April traffic would show a double-digit increase, according to O’Leary, accounting for the early Easter last year (falling in March).
Meanwhile, Aeroflot’s shares eased 4.5% as the Czech Government ruled it out in the bidding for Czech Airlines, leaving Air France-KLM (shares up 1.9% yesterday) as the leading contender in a field of two.
Iberia’s shares were flat yesterday, after the European Commission launched antitrust investigations into the oneworld alliance on Monday.
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European selected airlines daily share price movements (% change): 21-Apr-09
Source: Centre for Asia Pacific Aviation & Yahoo! Finance