Shares in some of Europe’s biggest full service carriers took a hit on Wednesday, as European markets closed generally lower. The largest fall was recorded by British Airways (-4.2%), followed by its merger partner Iberia (-3.9%), Lufthansa (-3.6%), Air France-KLM Group (-3.5%) and SAS Group (-2.8%).
European stocks were affected by concerns over the lingering impact of the debt crisis and fears that measures taken have not been enough to fully control the problem. The euro ended a five-day rally against the US dollar earlier this week, but surged yesterday to an eight-week high. European finance ministers are meeting to debate more measures to help resolve the crisis. Also affecting airlines is renewed concerns over the trajectory of oil prices.
Selected European airlines daily share price movements (% change): 19-Jan-2011