European airline shares stage recovery
After sharp falls on Monday, European airline stocks recovered some of the lost ground on Tuesday. The recovery was lead by Spanish LCC Vueling, which gained 3.5% and Russian national carrier Aeroflot, which was 3.5% stronger.
German carrier Lufthansa announced it will join the European Energy Exchange and become the first European airline to begin trading its emission rights ahead of aviation joining the EU Emissions Trading Scheme. Lufthansa shares gained just 0.1% on Tuesday. Fellow German carrier airberlin was up 1.7%.
The major exception to the recovery was Dart Group, the leisure and travel company that also owns Jet2.com. Dart has maintained its outlook for the year to 31-Mar-2011, despite the crisis in the Middle East and North Africa having some impact on its operations and the ongoing problems with increasing energy costs and tepid consumer confidence.
Selected European airline share price movements (% change): 19-Apr-2011