UK and Irish airline stocks down
Shares in carriers based in the UK and Ireland were down yesterday, with Irish carrier Aer Lingus the hardest hit, losing 5.6%. The carrier reported that its industrial dispute with pilots earlier this year severely affected Feb-2011 traffic. easyJet, Dart Group and Thomas Cook Group were all down, as were Ryanair and Flybe.
- Shares of UK and Irish carriers, including Aer Lingus, easyJet, Dart Group, Thomas Cook Group, Ryanair, and Flybe, experienced a decline in value.
- Aer Lingus reported a significant impact on its February 2011 traffic due to an industrial dispute with pilots earlier in the year.
- Icelandair Group witnessed a 16% year-on-year increase in passenger numbers for Icelandair, while Air Iceland experienced a 4% decrease.
- Icelandair achieved a 4.0 percentage point increase in load factor, reaching 70.7%, while Air Iceland's load factor slightly decreased by 0.1 percentage point to 71.1%.
- Ryanair criticized the UK Office of Fair Trading for initiating an investigation into its minority stake in Aer Lingus four years after the share purchase, accusing the office of erratic behavior and lack of transparency.
- The article includes selected daily share price movements for EAD (unspecified).
Icelandair Group reported the following traffic highlights for its Icelandair and Air Iceland subsidiaries in Feb-2011:
- Passenger numbers:
- Icelandair: 79,136, +16% year-on-year;
- Air Iceland: 25,238, -4%;
- Load factor:
- Icelandair: 70.7%, +4.0 ppts;
- Air Iceland: 71.1%, -0.1 ppt.
Ryanair testified the Competition Appeal Tribunal that UK Office of Fair Trading waited too long to commence a probe of its minority stake in Aer Lingus Group. Ryanair stated the Office of Fair Trading behaved "erratically" and without transparency by deciding to investigate Ryanair's 30% holding in its rival four years after the share purchase was completed.
Selected EAD daily share price movements (% change): 10-Mar-2011
