Turkish Airlines believes now is right time to expand - Europe share wrap
Airline share prices moved modestly in light New Year trade on Friday, with scattered European markets open for trade. Shares in Aegean Airlines (+4.4%), Aer Lingus (+3.2%) and Air France-KLM (+0.7%) were among the gains.
Turkish Airlines, which rose 0.9% on Friday, expects to expand further from 2010. The carrier's CEO, Temel Kotil, stated he believes now is the right time to further expand, despite the global financial downturn. Expansion plans will focus on the Asia Pacific region, looking to launch services to Australia, China, Pakistan, the Philippines and Vietnam. Turkish Airlines aims to handle 40 million passengers p/a in 2012, after handling 26.8 million passengers in 2009.
Turkish Airlines' stock rose 425% in 2009. See separate report: Turkish Airlines the biggest stock gainer in 2009, Japan Airlines the biggest loser
Also in Europe, shares in British Airways were down slightly (-0.2%) on New Year's Eve, with Thomas Cook Group and Aeroflot weaker, down 0.5% and 1.2%, respectively.
Europe selected airlines daily share price movements (% change): 31-Dec-09
Source: Centre for Asia Pacific Aviation & Yahoo! Finance