Aeroflot soars to two year high; easyJet passenger numbers up 10.2% for Nov-2010

Aeroflot (+1.8%) was one of the day’s biggest gainers in a day of mixed trading for European airline shares on Monday (06-Dec-2010). The carrier rose to a two year high after reporting a 65% year-on-year improvement in net profit, to USD281 million, for the nine months ended 30-Sep-2010.

The result was on the back of a 28% rise in revenue, to USD3160 million, and a 26% rise in operating costs, to USD2719 million. Net debt also declined for the period, down 16%, to USD1490 million.

See related CAPA Profile: Financial Results

easyJet passenger numbers up 10.2% for Nov-2010

easyJet (+1.6%) was also up for the day after reporting a 10.2% climb in passenger numbers for Nov-2010, to 3.7 million. Load factor for the month rose 0.9 ppts, to 85.7%.

Aegean Airlines (+2.4%) and Mediana Fly (Eurofly) (+1.7%) were also up at the end of Monday.

Turkish Airlines continues to slump

Turkish Airlines (-1.5%) continued to decline for the day after Turkey's Asset Sales Agency stated it would select an advisor on the possible sale of its 49.1% stake in Turkish Airlines. The adviser will determine strategy for the sale of an unspecified amount of the state’s holding in the carrier. Turkey aims to raise as much as USD6.4 billion from disposals of government holdings in 2011.

The fall was despite a 1.3% rise in Turkey’s ISE index. Turkish Airlines has risen only 4.6% so far this year, while the benchmark stock index has risen 27%. Finans Invest stated they expect pressure on Turkish Airlines’ shares in the short term following the announcement of the public offer plans. However, analysts at Tera stated a lack of details so far about the offer could lead to an overhang of stock.

See related CAPA Profile: Privatisation and Ownership

Elsewhere, Vueling (-3.0%) and Cimber Sterling (-2.1%) also fell.

Europe selected airlines daily share price movements (% change): 06-Dec-2010