23-Nov-2009 3:35 PM
Meridiana and Eurofly merge, creating 'Meridiana fly'; shares soar 15.3%
Analysis
Shares in Eurofly soared 15.3% on Friday, as the Eurofly Board approved a merger with majority shareholder, Meridiana SpA, which owns 60.7% of Eurofly, creating a single airline, Meridiana fly. TUI Travel and Thomas Cook were downgraded by Morgan Stanley in view of a "tougher" outlook next year.
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