Turkish Airlines passenger traffic on the rise; British Airways looking to reduce pension deficit
Turkish Airlines (+0.8%) rose marginally in a day of gains for European airlines on Monday (13-Dec-2010). The carrier gained after reporting a 2.8 ppt year-on-year improvement in load factor for the 11 months ended Nov-2010 to 74%.
The rise came as passenger numbers rose 17.1% for the period to 26.9 million. Cargo volume was also up for the month, rising 33.5% to 283,335 tonnes.
See related CAPA Profile: Traffic and Capacity
British Airways looking to reduce pension deficit
British Airways (+1.7%) was also up on news it is reportedly in talks to reduce its pension deficit of GBP1.9 billion by almost half. The move comes after new rules unveiled by the UK Government, which change the way pensions are calculated by private businesses. Under the new rules, such businesses would be able to increase pensions in line with the Consumer Price Index to generate pension payouts.
Air France signs codeshare with Saudi Arabian Airlines
Air France-KLM (+0.1%) also ended trading marginally higher. During trading, Air France announced it has signed a codeshare agreement with Saudi Arabian Airlines. The agreement is effective 10-Jan-2011 and will allow the two airlines to offer daily codeshare services between Paris, Jeddah and Riyadh. Under the agreement, Saudia services will be transferred from Terminal 1 to Terminal 2 at Paris CDG and in Jeddah, Air France services will be operated from the southern terminal of King Abdulaziz International Airport. The codeshare agreement between the carriers is in accordance with the provisions of the partnership agreement signed by the two airlines in Jun-2010.
See related CAPA Profile: Codesharing and Interlining
Europe selected airlines daily share price movements (% change): 13-Dec-2010