European carriers bounce back, British Airways, Aer Lingus, Air France-KLM and Lufthansa gain
British Airways enjoyed the largest stock market gain of the European airlines yesterday, its shares rising 7.7% upon the release of its Jul-2009 traffic results.
BA expects volumes and seat factors to improve in the peak Summer months, following a stabilisation in the first quarter. Passenger numbers declined by just 1.2% year-on-year in Jul-2009, while passenger load factor increased by 3.1 ppts to 84.6%. Premium traffic in the period decreased by 11.0%, however, non-premium traffic was up 3.5%.
BA's figures put a lift under its main rivals. Shares in Air France-KLM surged 7.1% yesterday, while Lufthansa’s shares jumped 6.6%.
Air France-KLM announced it commenced installation of Goodrich pitot probe speed sensors on its A330/A340 fleet, after Airbus and the European Aviation Safety Agency (EASA) recommended substituting at least two of the three Thales sensors with Goodrich units.
Aer Lingus' shares gained 2.1% yesterday, as the carrier signed a two-year agreement, worth GBP500,000 p/a, establishing the carrier as the sole provider of air transport for the Northern Ireland Civil Service between Belfast and London Heathrow.
Europe selected airlines daily share price movements (% change): 05-Aug-09