European airline shares were mixed on Monday (31-May-2010) during a relatively quiet day of trading. The London Stock Exchange and US Wall Street were closed for national holidays.
Vueling expanding from Barcelona El Prat Airport
Vueling (+3.0%) was one of the day’s biggest gainers. President, Josep Piqué, stated during trading that the carrier plans to launch several new routes from Barcelona El Prat Airport from 05-Jul-2010. Mr Piqué added he expects passenger throughput at the airport to increase by over 10% in 2011. In response to Ryanair’s recent announcement to open a base at El Prat in Sep-2010, Mr Piqué stated the effect on fares will have to be assessed.
Aegean Airlines future stakeholder reports widened net loss
Aegean Airlines (-3.2%) was also down, pushed lower by a 1.2% decline in the Athens Stock Exchange. Olympic Air owner, Marfin Investment Group (MIG) reported a net loss of EUR94.2 million for the 12 months ended 31-Mar-2010, compared with a net loss of EUR18.4 million in the previous corresponding period.
MIG will have a 26.6% stake in the combined Aegean Airlines/Olympic Air, once the carriers’ merger is finalised, which is expected to take place between Jan-2011 and Mar-2011.
Elsewhere Eurofly (+5.5%) made a strong gain, moving higher with the Borsa Italiana (+0.4%).
El Al (-3.3%) took the biggest fall of the day, as the Tel Aviv Stock Exchange (-1.6%) declined on concern tensions may escalate after the Israeli naval incident involving an aid convoy bound for Gaza. El Al and Atlasjet Airlines meanwhile announced plans to suspend a joint Tel Aviv-Istanbul route, where services were due to commence operation in Jun-2010.
- Aer Arann and Aer Lingus combine to launch new routes from Shannon;
- flybe handles 500,000 passengers at Düsseldorf Airport;
- Bulgaria Air and Air France sign codeshare;
- Brussels Airlines adds Shanghai to network;
- Finnair renews contract with Navtech;
- Volga-Dnepr takes delivery of third IL-76TD-90VD.
Europe selected airlines daily share price movements (% change): 31-May-2010
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