Air France-KLM, British Airways and Iberia gain on analyst comments; Aegean Airlines down
The group stated during trading that it plans to increase capacity (ASMs) by 3.3% for its winter 2010/2011 schedule, compared with the previous corresponding period. The carrier plans to expand long-haul capacity by 4.1% and medium-haul 0.5%.
British Airways (+1.0%) and Iberia (+0.5%) made some ground after a bullish Goldman Sachs note. The analysts stated stronger than expected trading over summer 2010-11 would be reflected in its next financial results.
The analysts stated: “BA and Iberia are merging which we believe will produce synergies, but more interesting, in our view, is the joint venture between BA, Iberia and American which should lead to tighter premium yields across the North Atlantic as corporate deals and discounts are renegotiated.”
Europe selected airlines daily share price movements (% change): 22-Oct-2010