European markets decline, British Airways, Air France-KLM and Lufthansa lower

Shares in British Airways (BA) lost ground yesterday, declining 2.5%. The carrier is pursuing plans to launch its first Business class only service to New York from London City Airport by the end of Sep-2009.

BA is aiming for an initial 50% load factor on the route and revealed corporate customers, including CitiCorp and HSBC have expressed interest in the service. Meanwhile, BA remains confident the US Department of Transportation (DoT) will approve its revenue sharing JV with American Airlines and Iberia later in 2009.

Elsewhere, Air France-KLM dipped 0.5%, as the Paris CAC Index closed 0.33% lower and shares in Lufthansa were down 0.9%, as the Frankfurt DAX lost 0.63% yesterday.

Europe selected airlines daily share price movements (% change): 26-Aug-09