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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

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