SAS falls, Ryanair rises - European share wrap

Shares of major European full service airlines eased yesterday as the outlook for premium demand continues to sour.

IATA reports premium demand within Europe fell 16.3% year-on-year in Dec-08 and warned January's data "may well show a renewed deterioration", as economic data points to even weaker industrial production across the continent.

Lufthansa and Air France-KLM eased 1.9% and 0.7%, respectively. SAS slumped 8.4% and Ryanair rose 1.9%.

Last week, Ryanair stated it would aim to handle 10 million passengers annually within two to three years of commencing services at Copenhagen (SAS' main base), subject to it gaining a good deal on charges. Ryanair has indicated it could launch services from the Danish capital as early as this Summer. SAS carried 9.4 million passengers last year.

European selected airlines daily share price movements (% change): 18-Feb-09