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Averted strike action cannot salvage Aer Lingus share price

Analysis

Aer Lingus shares dropped 4.9% but the carrier has managed to avert strike action by its pilots after last minute negotiations between unions and management. The airline has offered financial incentives to pilots, offering to buy back leave days from them over its busy summer period.

The threat of strike action has not fully eased, with industrial action only suspended until 01-Jul-2011 and pilots at Belfast and Gatwick having also voted for industrial action.

easyJet reported the following traffic highlights in May-2011:

  • Passenger numbers: 4.7 million, +11.3% year-on-year;
  • Passenger load factor: 84.1%, -1.7 ppts.

airberlin reported the following traffic highlights in May-2011:

  • Passenger numbers: 3.3 million, +3.9% year-on-year;
  • Passenger load factor: 75.8%, +2.1 ppts. 

Selected European airline share price movements (% change): 06-Jun-2011

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