SAS surges on Lufthansa buy-in speculation


Shares in Scandinavian carrier SAS soared 14% yesterday – the stock’s biggest one day gain in eight months – on speculation reported by Bloomberg that Lufthansa is preparing to announce acquisition plans for the airline as early as 1H2011.

Lufthansa, whose shares rose 0.3% yesterday, denied the report. SAS shares have fallen 54% this year, against a 23% gain on the Stockholm index.

Elsewhere, Norwegian gained 4% and Finnair eased 0.2% yesterday.

Europe selected airlines daily share price movements (% change): 23-Dec-2010

Want More Analysis Like This?

CAPA Membership provides access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More