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European shares mixed; Air France-KLM and Finnair report traffic

European airline shares had a mixed day in trading, despite the strong recovery seen in airline shares in the US, thanks mostly to an easing of crude oil futures.

Norwegian Air Shuttle shares rose 3.7%, with the carrier reporting higher Feb-2011 passenger traffic although continued falls in yield. Air France-KLM shares were also stronger, with the airline reporting 5.7% growth in passenger traffic last month. Turkish Airlines shares were up 2.5%. The carrier has signed a firm order for the purchase of 10 A321s and three A330-200Fs to meet their growth plans in the passenger and cargo markets.

Finnair reported the following traffic highlights in Feb-2011:

  • Passenger numbers: 585,000, +2.1% year-on-year;
  • Passenger load factor: 73.3%, -6.9 ppts;
    • Domestic: 53.6%, -8.1 ppts;
    • Europe: 60.5%, -5.6 ppts;
    • North America: 70.2%, -4.9 ppts;
    • Asia Pacific: 74.4%, -11.0 ppts;
  • Cargo volume: 10,445 tonnes, +33.8%;
  • Cargo load factor: 63.4%, -9.1 ppts. 

Air France-KLM reported the following traffic highlights in Feb-2011:

  • Passenger numbers: 5.1 million, +5.7% year-on-year;
    • Europe: 3.4 million, +7.3%;
    • America: 554,000, +2.5%;
    • Asia Pacific: 429,000, +4.1%:
    • Africa and Middle East: 393,000, -0.2%;
    • Caribbean and Indian Ocean: 275,000, +4.6%;
  • Passenger load factor: 77.6%, -0.1 ppt;
    • Europe: 66.4%, +2.8 ppts;
    • America: 78.3%, -1.7 ppts;
    • Asia Pacific: 84.6%, -1.5 ppts;
    • Africa and Middle East: 74.6%, -0.8 ppt;
    • Caribbean and Indian Ocean: 85.6%, +1.6 ppts;
  • Cargo traffic (FTKs): -3.1%;
  • Cargo load factor: 67.6%, -3.2 ppts. 

Norwegian Air Shuttle reported the following traffic highlights in Feb-2011:

  • Passenger numbers: 935,488, +12% year-on-year;
  • Passenger load factor: 76%, stable;
  • Yield*: EUR6.18 cents, -6%;
  • Revenue per ASK: EUR4.64 cents, -6%;
  • On-time departure rate: 82.8%. 

* Based on the conversion rate EUR1 = NOK7.764

Selected EAD daily share price movements (% change): 08-Mar-2011