GOL and TAM lead stronger Latin American airline shares

Shares in TAM and GOL bounced up 3.8% and 3.5% respectively, as Brazil's Bovespa index rose 1.3%, rebounding from a one-week low. Other Latin American airline shares were also stronger, with LAN Airlines gaining 2.7% and Copa Airlines up 2%.

In the US and Canada, airline shares were mixed, as US markets had a mixed day.

US Airways and Continental Airlines have been fined USD45,000 and USD120,000 respectively for false advertising. The Department of Transportation found Continental Airlines failed to include fuel surcharges on its website ticket price until the third stage of its booking process. US Airways noted its international fares did not include taxed or additional fees, but there was no information on the type or amount of fees in either its advertisements or on its homepage.

Selected Americas share price movements (% change): 02-Jun-2011