Ryanair and easyJet keep rising, but investors shrug off strikes at full service rivals
Shares in Ryanair and easyJet rose 3.2% and 1.9% on Friday, continuing their strong stock market performances in recent days as rival full service rivals, including British Airways, Lufthansa, Iberia and others suffer through strike action by various labour groups.
BA’s cabin crews launched their second round of strikes at the weekend in response to changes to pay levels and working conditions, with Ryanair and easyJet offering special fares to affected BA passengers.
But investors seem to have largely shrugged off the labour unrest at rival full service airlines, with some dramatic stock market rises for several of the region’s major carriers this month.
Iberia, Air France-KLM and BA are all up around 20% this month, while Lufthansa and SAS have risen 12% and 9.3%, respectively. Strike free Ryanair and easyJet have gained 6.4% and 9.9% this month to date.
Europe selected airlines share price movements (% change): 01-Mar-2010 to 26-Mar-2010
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Selected LCCs daily share price movements (% change): 26-Mar-2010