Air France-KLM, BA and Iberia lower. Virgin Atlantic merger target


European airline shares were mostly lower yesterday, led down by Air France-KLM which fell 2.7%.

Air France-KLM plans to appeal the damages payment awarded by a French court against Continental Airlines over the Concorde crash a decade ago, according to a report in Le Figaro.

British Airways fell 2% as the cabin-crew union stated it would commence polling members next week on taking further strike action in their dispute. Meanwhile, merger partner Iberia fell 2.2% as it signed an agreement with it cabin-crew union that will be valid until 2012.

Elsewhere, Lufthansa shed 2.5% and Turkish dropped 2.7%.

Delta interested in Virgin Atlantic

Meanwhile, Virgin Atlantic has confirmed it has received a "number of lines of enquiry" about possible partnerships or mergers with rival airlines, according to a Sky News report. Delta Air Lines is among the interested carriers and the US carrier may have appointed an adviser according to the report.

Virgin Atlantic is 49% owned by Singapore Airlines and 51% by Virgin Group.

Europe selected airlines daily share price movements (% change): 15-Dec-2010

Want More Analysis Like This?

CAPA Membership provides access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More