Air Berlin outlook rated 'neutral'; easyJet and Ryanair downgraded; Valencia is Ryanair’s 43rd base
The company added: “Air Berlin Plc has strong business growth and is run by efficient management. When compared to its closest peer, Deutsche Lufthansa AG, Air Berlin Plc shows similar undervaluation and is more likely to outperform the market."
Meanwhile, shares in easyJet gained 1.2% yesterday, following a 3.1% reduction on Tuesday, after JP Morgan Cazenove downgraded the carrier’s shares from ‘overweight’ to ‘neutral’, due to the expectation that full-service carriers will soon start outperforming LCCs.
Selected LCCs daily share price movements (% change): 23-Jun-2010