Iberia load factor up 4.4 ppts; Air France staff to hold another strike: El Al slips
European airline shares were down on Thursday (14-Oct-2010) as wider markets declined, despite opening trading higher. Markets were weighed down by declines in the banking sector due to capital concerns.
Iberia load factor up 4.4 ppts for Sep-2010
Iberia (-0.6%) slipped for the day. During trading, the carrier reported a 4.4 ppt year-on-year improvement in load factor for Sep-2010, to 83.4%. The result was led by a 7.0 ppt rise in domestic load factor, to 77.0%:
- Domestic: 77%, +7.0 ppts;
- Medium-haul: 80.3%, +1.8 ppts;
- Long-haul: 85.6%, +4.4 ppts.
The rise in load factor was also the result of a 10.1% rise in passenger traffic (RPKs) on a 4.3% increase in capacity (ASMs). The increase in traffic for the period was led by a 17.3% rise in long-haul traffic:
- Domestic: -5%;
- Medium-haul: -0.5%;
- Europe: -2.3%;
- Africa and Middle East: +12.8%;
- Long-haul: +17.3%.
See related CAPA Profile: Traffic and Capacity
Air France staff to hold another strike
Air France-KLM (-0.3%) also slipped after unions reportedly called a one-day strike on 16-Oct-2010 to protest the government’s pension-reform plans. No further details were provided.
El Al (+0.6%) edged higher, despite the Israeli Airports Authority (IAA) stating El Al’s market share at Ben-Gurion International Airport declined from 40.4% over the first nine months of 2006 to 32.7% over the first nine months of 2010. If the market share of El Al and Sun Dor (the carrier’s charter subsidiary) is included, the combined market share decreased from 41.7% to 36.6%.
See related CAPA Profile: Market Share
Europe selected airlines daily share price movements (% change): 14-Oct-2010