More debt concerns and volcanic ash in Europe – Aviation share wobbles continue
European aviation’s twin uncertainties – sovereign debt issues and volcanic ash plumes – weighed on investors again on Friday. European airline and airport share prices fell across the board (with the exception of Aer Lingus, +2.8%), on renewed worries about the debt crisis and fresh airport closures stemming from another "Groundhot Day" in Iceland.
In the airline sector, Spain’s Vueling led the falls, dropping 5.0%, while Air France-KLM and Ryanair fell around 4%.
Iberia fell 2.5% as it unveiled a net loss of EUR52 million in 1Q2010 (compared with a net loss of EUR93 million in the same period last year). Revenue revenue fell 4.4% to EUR1.05 billion.
Europe selected airlines daily share price movements (% change): 14-May-2010
Source: Centre for Asia Pacific Aviation & Yahoo! Finance
Airports also lower again
In the airport sector, Turkey’s TAV Airport slumped 8.8%, Spain’s Ferrovial 7.0% and Italy’s Gemina 5.2%.
Selected airports daily share price movements (% change): 14-May-2010
Source: Centre for Asia Pacific Aviation & Yahoo! Finance