The bears are back: Boeing and Airbus down, lessors take a hit
Aviation suppliers shares took a hit on 21-May-09, as equity markets struggled in Europe, America and Asia. Boeing fell 3.1%, despite more news that its B787 programme is on track for a first flight later next month, while shares in Airbus parent, EADS, fell 2.2%. Embraer was also down, although the company secured a new order from Argentina's Austral Lineas Aereas for 20 E190 regional jets.
Hardest hit were aircraft lessors, notably Aercap and Babcock & Brown Air, down 8.2% and 5.8%, respectively. Genesis Lease (-2.9%) and Aircastle (-2.7%) also felt the impact of the softer markets.
Running against the trend were suppliers of IT products for the aviation industry, China's TravelSky Technologies and India's NIIT Technologies.
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Selected aviation suppliers' daily share price movements (% change): 21-May-09
Source: Centre for Asia Pacific Aviation & Yahoo! Finance