20-Feb-2009 11:32 AM
SkyEurope and Austrian bounce back, Vueling deflates - European share wrap
Analysis
Investors welcomed Vueling's merger approval by the Clickair Board by slashing the carrier's shares by 4.9% yesterday. Vueling's shares are still up 23% this year. The merger euphoria may be being replaced with reflections on the harsh realities facing the airline in the midst of Europe's worst post-War economic downturn.
Meanwhile, SkyEurope and Austrian Airlines - carriers that have been beaten down this year - staged somewhat of a comeback, rising 6.7% and 7.1%, respectively.
SkyEurope's shares have fallen by a third this year.
European selected airlines daily share price movements (% change): 19-Feb-09
