SAS passenger numbers rising; Lufthansa price target increased
SAS passenger numbers rising
SAS (+2.9%) shares rose after the carrier stated passenger numbers have started to rise. As a result, the carrier plans to increase capacity on long-haul services by 12% after summer 2010 by placing one Airbus aircraft into operation. Services include New York, Chicago, Bangkok and Dubai.
See related CAPA Profile: Route Changes
Lufthansa price target increased
Lufthansa (+2.3%) also gained after Citi increased its price target for the carrier from EUR15.20 to EUR19.00. The analysts stated underlying earning forecasts from Lufthansa have “little changed” – despite EUR200 million in volcanic ash costs – implying the carrier is recovering from the global financial downturn. Citi expects trading to be “strong”, particularly cargo and long-haul operations.
See related CAPA Profile: Outlook, Forecasts, Guidance
Elsewhere, Dart Group (+1.4%), Aer Lingus (+1.3%), easyJet (+1.2%) and TUI Travel (+0.7%) rounded out the airlines that rose for the day. Turkish Airlines (-2.9%) was the day’s biggest decliner, moving lower with the Istanbul Stock Exchange (-1.9%). Aeroflot (-2.9%) and Vueling (-2.6%) were also down.
Europe selected airlines daily share price movements (% change): 23-Jun-2010