European airline stocks declined yesterday, but the falls were generally not as bad as the benchmark European bourses. Shares in Lufthansa lost 1.0%, while the Frankfurt DAX closed 2.02% lower.
The German carrier is expected to encounter difficulty in wage negotiations with its pilots, which are demanding a 9.6% salary increase and more influence in strategic decision-making, including the acquisition of Austrian Airlines. Austrian’ shares remained flat, declining just 0.2% yesterday.
Europe selected airlines daily share price movements (% change): 17-Aug-09