28-Jun-2010 3:36 PM
Jet2.com proves the doubters wrong
Analysis
European LCC stocks were mixed on Friday, with healthy gains by Jet2.com parent, Dart Group (+6.6%) and Cimber Sterling (+3.7%), as well as big falls by Norwegian Air Shuttle (-7.4%), Vueling (-4.7%) and Air Berlin (-4.2%). easyJet also fell 2.9%, while Ryanair was virtually flat (-0.1%).
Summary
- European LCC stocks had mixed performance on Friday, with some companies experiencing gains and others facing significant falls.
- Dart Group, the parent company of Jet2.com, saw healthy gains in its stock (+6.6%).
- Norwegian Air Shuttle, Vueling, and Air Berlin experienced significant falls in their stock prices (-7.4%, -4.7%, and -4.2% respectively).
- easyJet also saw a decline in its stock price (-2.9%).
- Ryanair's stock price remained relatively stable (-0.1%).
- Dart Group reported a 33% decrease in annual profits but expressed confidence in its growth prospects for the current year.
The Dart Group reported its annual profits fell by a third, but stated it is well placed for growth in the current year. See related report: 'Geriatric' low cost airline, Jet2.com survives through diversity
Selected LCCs daily share price movements (% change): 25-Jun-2010
Source: Centre for Asia Pacific Aviation, Yahoo! Finance & Reuters