Finnair's shares fall as compensation claims mount. SAS lower


Finnair's share price fell 3.4% yesterday, continuing a bumpy ride for investors over the past month.

  • Finnair's share price has experienced volatility over the past month, with a 3.4% decrease observed recently.
  • The airline has received approximately 16,000 compensation claims from passengers whose flights were canceled due to the volcanic ash cloud.
  • Discussions are ongoing between Finnair, the Finnish Transport Safety Agency, and the Consumer Agency regarding passenger reimbursement.
  • Finnair has stated that it will only compensate passengers for unused tickets, while the Consumer Agency is pushing for coverage of food and lodging expenses for delayed passengers.
  • SAS shares have been declining, while British Airways shares remained relatively stable, and Air France-KLM and Lufthansa shares experienced slight gains.
  • These share price movements reflect the current market conditions and investor sentiment towards European airlines.

Finnair's share price movements over the past month

The airline has received some 16,000 compensation claims from travellers whose flights were cancelled due to the volcanic ash cloud last month, according to a YLE.fi report. The airline, the Finnish Transport Safety Agency and the Consumer Agency are currently discussing issues related to the reimbursement of passengers, with Finnair stating it will only compensate travellers for unused tickets. The Consumer Agency is seeking the airline to cover passengers' food and lodging expenses for delayed passengers.

See related report: Ryanair fends off Italian fine over passenger compensation

Elsewhere, SAS (-2.2%) shares continued to slide, while British Airways (-0.1%) was virtually flat and Air France-KLM (+1.1%) and Lufthansa (+0.5%) gained.

Europe selected airlines daily share price movements (% change): 18-May-2010

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