Aircastle's shares fell 5.7% on Friday, following a downgrade from ‘Buy’ to ‘Hold’ of the stock from Citigroup. Strong early trading saw the stock dip to USD10.30 per share, before recovering slightly to USD10.57.
Other lessor shares were also down to close out the week. Babcock & Brown Air, which announced a USD0.20 per share 4Q2009 dividend, dropped 1.8%, while AerCap (-1.0%), Aerocentury (-0.9%) and Genesis Lease (-0.7%) all recorded falls.
Boeing completes another B787 milestone
Boeing announced another important step for the B787, with the aircraft passing its initial airworthiness test. This milestone will allow Boeing to progress with more testing, enabling more engineers to join the flights and more aircraft to join the test programme. Boeing's shares fell 1.2% on Friday amid a softer market.
More progress on saving the A400M sent EADS shares higher, up 1.4%. EADS CEO, Louis Gallois, stated the company could accept a new funding deal for the troubled military transport, but the seven governments involved in the project need to make a decision by the end of Jan-2010. The aircraft first flew in Dec-2009, renewing optimism and recovery efforts for the programme.
Selected Aviation suppliers’ daily share price movements (% change): 15-Jan-2010