Vueling shares surge - European share wrap

Shares in Spanish LCC, Vueling, surged 15.2%, as reports surfaced on progress on its merger with Clickair, which is majority owned by Iberia. Talks are focused on settling issues including codesharing, staffing levels and the shareholding structure.

Elsewhere in Europe, Air France-KLM continued to struggle, shedding another 4.2% yesterday, while British Airways maintained its recent better run, rising 1.4%, despite a credit ratings downgrade by Moody's to "junk" status.

European selected airlines daily share price movements (% change): 11-Feb-09