Shares in Ryanair slumped 5.5% yesterday. The carrier, earlier this week, stated the EUR500 million dividend to be paid by the carrier is a one-off exceptional payment, due to excess liquidity related to the abandonment of aircraft acquisitions. The carrier also denied reports it is planning mergers and acquisitions.
Cimber Sterling revenue up 27%, but remains in the red in 1QFY2011
Shares in Cimber Sterling strengthened 2.3% yesterday, coinciding with the carrier’s financial results for the three months ended 31-Jul-2010. The carrier reported improved losses at the operating and net level, of EUR1.3 million and EUR1.4 million respectively, compared with losses of EUR3.4 million and EUR1.6 million in the previous corresponding periods, with revenues increasing 27% to EUR71 million and passenger numbers up 14% to 714,000. Also in the period, yields remained stable at EUR 11.55 cents, while RASK increased 1.8% to EUR 7.79 cents.
Looking forward, Cimber expects to report an operating loss of between EUR2.7 million and EUR10.7 million in FY2010/2011 on revenues of EUR269 million, with yields forecast at EUR 11.28 cents
flybe CEO keeps an eye on consolidating European aviation market
Among the non-listed European LCCs, flybe Chairman and CEO, Jim French, stated he believes partnerships with other airlines are an ideal way to increase flybe’s presence and reputation in Continental Europe and it represents a cheaper option to launching new routes itself.
Selected LCCs daily share price movements (% change): 15-Sep-2010