03-Feb-2011 2:59 PM
World Fuel Services Corp hits record high, leasing companies stronger
World Fuel Services Corp stock hit a record high in trading yesterday, gaining 2.5%. Stock in the company is up 4.5% for the year-to-date.
The company announced in late Jan-2011 that it plans to buy French aviation fuel and de-icing fluid supplier Ascent Aviation. The transaction is expected to be USD0.03-0.05 accretive to per share earnings in the first 12 months.
Shares in leasing companies were generally stronger, with FLY Leasing up 1.6%, ALAFCO gaining 1.3%, Willis Lease Finance up 0.7% and Aircastle 0.5% stronger.
Selected aviation suppliers daily share price movements (% change): 02-Feb-2011
