British Airways gains, Lufthansa and Air France-KLM dip, El Al soars
European airline shares were mixed yesterday, with British Airways closing virtually flat, Lufthansa dipped 0.6%, while Air France-KLM fell 1.3%. The big mover was Israel’s El Al Airlines, which soared 12.3%.
The Delek Group reportedly increased its holding in El Al to 8.55%. The Group reportedly applied to the Government Companies Authority (GCA) to become an "interested party" with more than 5% of shares in El Al two weeks prior. If the Group does not receive approval to hold more than 5% of shares in the carrier, it will be required to sell some of the shares to reduce its holding below 5%.
Europe selected airlines daily share price movements (% change): 22-Jul-09