British Airways shares rise, Lufthansa and Air France-KLM ease – Share Wrap
British Airways’ shares rose 1.4% on Friday, as investors shrugged off comments by Sir Richard Branson that BA is worthless and the government should avoid requests for financial support. BA denied it has approached the government, stating it is opposed to state aid.
Air France-KLM’s shares eased 0.6% as the company’s CEO, Pierre-Henri Gourgeon, stated the outlook for economic activity until December “remains very difficult” and the company is considering several options for further cost cutting. The carrier is seeking to cut a further 3,000 jobs from its 100,000-strong workforce this financial year through natural attrition and retirements, although temporary redundancies are also reportedly under consideration.
Elsewhere, Lufthansa’s shares also dropped back 0.6% on Friday, while takeover target, Austrian, eased 1.2%.
Europe selected airlines daily share price movements (% change): 18-Jun-09