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Turkish Airlines traffic up 6% in January but load factors down

Analysis

Shares in Turkish Airlines, Europe's seventh largest carrier, fell 1.6% in trading on Tuesday, on a mixed day for European airline stocks. The carrier's January traffic rose 6.3% year-on-year, to 2.1 million passengers, but average load factors fell 1.5 percentage points. Cargo volume surged 22.6%.

Summary
  • Turkish Airlines' shares fell 1.6% despite a 6.3% increase in January traffic.
  • Average load factors for Turkish Airlines dropped by 1.5 percentage points.
  • Cargo volume for Turkish Airlines surged by 22.6%.
  • SAS Group's shares rose 3.1% following a better-than-expected profit result in 4Q2010.
  • SAS Group reported an overall loss for 2010 but anticipates returning to profitability in 2011.
  • European airline stocks experienced a mixed day of trading on February 15, 2011.

Shares in SAS Group were up 3.1%, with the carrier last week reporting a better-than-expected profit result in 4Q2010. The carrier reported an overall loss for 2010, but expects to return to profitability in 2011.

Selected EAD daily share price movements (% change): 15-Feb-2011

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