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European carriers rebound, British Airways, Aer Lingus, Lufthansa and Air France-KLM gain

British Airways had a better day (+2.0%), while Aer Lingus’ shares gained 1.5% yesterday, as the carrier announced plans to introduce further cost cutting measures under new CEO, Christoph Mueller.

Aer Lingus Chairman, Colm Barrington recently stated the carrier requires another EUR130 million in cost cuts to remain viable. Cost cuts may focus on its trans-Atlantic network and ground handling. The carrier is expected to release its 1H2009 financial results on 27-Aug-09.

Elsewhere, shares in both Lufthansa and Air France-KLM were up 0.8%, as the Frankfurt DAX and Paris CAC Index closed 1.43% and 1.51% higher, respectively.

Europe selected airlines daily share price movements (% change): 20-Aug-09