European airline shares fell on Friday, led by SAS Group which declined 4.7%. One of the few exceptions was Turkish Airlines, which is now lining up the acquisition of Serbia's JAT Airlines. Turkish Airlines shares were up 2%.
Serbian Minister Sulejman Ugljanin stated the Turkish carrier would study the assets of JAT Airlines ahead of a possible sale of the company. Turkish Airlines may end up as the he majority of JAT under any agreement, with the carrier being given a free hand to bid for as large a stake as it desires. Serbia twice failed to sell JAT, in 2007 and 2008, and merger talks with Turkish Airlines remain inconclusive. Serbia is aiming to sell JAT by Jul-2011. Deloitte LLP will advise on the process.
Association of European Airlines reported the following total scheduled traffic highlights for its member airlines in Jan-2011:
- Passenger numbers: 24.7 million, +6.7% year-on-year;
- Passenger traffic (RPKs): +6.3%;
- Passenger load factor: 72.3%, -0.9 ppt.
Selected EAD daily share price movements (% change): 11-Mar-2011
Want more analysis like this? CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find out more and take a free trial.