In a quiet overall market, most airline stocks traded in subdued fashion on Tuesday. Only Aer Lingus (-4.2%), under a cloud and under attack from Ryanair (-2.2%), and SkyEurope (-6.7%), negotiating its way through its financial issues, stood out as losers on the day.
European airlines daily share price movements (% change): 17-Mar-09
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On Sunday 15-Mar-09, SkyEurope posted a statement setting out its latest financial developments: " (Creditor) York Global Finance II S.a.r.l. has extended the deadline for the repayment of its EUR 15 million loan granted in December 2007 and its EUR 10 million loan granted in September 2008 to SkyEurope Airlines a.s. to 15 April 2009. Both loans were due for repayment on 15 March 2009 in accordance with the loan agreements as amended.
"SkyEurope Holding AG announces the further postponement of the publication of its annual financial statements for the financial year ended 30 September 2008 as SkyEurope Holding AG's management continues to assess certain material estimates in connection with these annual financial statements. SkyEurope Holding AG's management expects that the audited annual financial statements will be published by 15 April 2009."