British Airways surges on pension reform rumours, TUI rally continues – SHARE WRAP
Shares in British Airways (BA) surged on Friday on reports in the Financial Times that the UK Pensions Regulator may allow some companies to renegotiate recovery programmes to overcome pension-plan deficits. BA’s pension gap last month exceeded its market capitalisation, according to Bloomberg. BA closed up 8.1% on Friday.
Meanwhile, TUI AG continued to rally as speculation mounted Norwegian investor, John Fredriksen, is acquiring more shares in the German firm. TUI soared 11.7% on Friday.
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European selected airlines daily share price movements (% change): 17-Apr-09
Source: Centre for Asia Pacific Aviation & Yahoo! Finance