Air France-KLM, Lufthansa and British Airways gain ground, Aer Lingus drops back

Air France-KLM ‘s shares rose 1.2%, as the Paris CAC Index gained 1.0%. The carrier announced plans to issue EUR575 million of convertible bonds – joining the ranks of carriers to raise additional finance amid the global economic downturn.

British Airways advanced 1.8% yesterday (the FTSE rose just 0.1%) rebounding somewhat from difficult sessions earlier in the week.

Lufthansa also firmed 0.3%, but trailed the DAX Index, which rose 0.3%.

With the exception of Turkish Airlines (+2.2%), all other European airlines stocks fell back yesterday, with Aer Lingus leading the selling, down 4.6% on the day.

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Europe selected airlines daily share price movements (% change): 18-Jun-09