British Airways and easyJet shares fell 4.9% and 4.6%, respectively, as the broader London FTSE eased 1.4% on fears of an extended recession in the UK.
Air France-KLM shares were also 2.9% lower. The airline is reported to be in negotiations with India's Kingfisher Airlines over a 20-25% stake sale that could be made possible by foreign airline ownership changes by Delhi.
Air Berlin shares rose 5.3%.
European selected airlines daily share price movements (% change): 15-Jan-09