airberlin issues profit warning; Ryanair to report 3Q earnings Monday
airberlin's shares slid 4.3% yesterday as the carrier stated it expected to report a full-year loss before interest and tax in 2010 due to adverse weather conditions and strikes.
Ryanair's shares were hit by rival easyJet's profit warning last week. Ryanair will report its 3QFY2011 earnings on 31-Jan-2011. RBS Equities forecasts an operating loss of EUR31 million and a net loss of EUR43 million inclusive of the impact of weather disruption, which could be of the order of EUR15 million.
RBS Equities noted it expects Ryanair's yields to be supported by the growth of long sectors to the Canaries, adding: "We think Ryanair has been seeing falling checked bag volumes for some time ... concentrating on harvesting lower handling costs from this development."
Selected European airlines daily share price movements (% change): 27-Jan-2011