EADS shares close down nearly 5% - Suppliers share wrap
EADS shares finished trading down 4.7% yesterday. The company is facing a new lawsuit on how it revealed delays to the A380 production programme and related falls in the company’s share price. A group of institutional investors is launching a civil case, seeking at least EUR800 million from EADS. An earlier request for a commercial probe into EADS’ management of the programme and how it had communicated delays was turned down by an Amsterdam court.
AviChina shares gained 4.4% yesterday. The company’s share price hit a record high in early Nov-2010 but has fallen more then 15% over the past two weeks. Strong ordering at this week’s Airshow China is expected to help the company. AviChina’s major shareholders include EADS and AVIC.
Menzies Group shares dropped 7.4%. The company released a trading update, stating its full-year profitability and debt levels are expected to be in line with the board’s expectations. The company’s aviation unit “remains on track for an excellent year”, with better trading due to higher cargo volumes. The ground handling business is also performing well on the back of an increase in aircraft movements.
Selected Original Equipment Manufacturers daily share price movements (% change): 16-Nov-2010
Selected Aviation Suppliers & Leasing daily share price movements (% change): 16-Nov-2010