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SunExpress reports year-to-date revenues of EUR255 million: Europe LCC Share Wrap

Turkish LCC, SunExpress, reported revenues of EUR255 million in the first seven months of 2010, attributable to a 22.7% jump in passenger numbers to 3.6 million during the period. In the month of Jul-2010, the carrier registered a 29.6% rise in passengers to 736,000.

The carrier stated it has handled approximately 18 million passengers on more than 155,000 services since its foundation in Oct-1989 as a subsidiary company of Turkish Airlines and Lufthansa. Today, SunExpress is the market leader in charter flights between Germany and Turkey as well as one of the largest scheduled carriers between Europe and Southern Turkey.

Also in the European LCC market, shares in Norwegian Air Shuttle gained 2.5% yesterday, while Vueling rose 2.4%. Ryanair and easyJet increased 0.9% and 0.3%, respectively, while Air Berlin declined 0.3%. Cimber Sterling and Dart Group also fell by 1.4% and 0.8% respectively.

Selected LCCs daily share price movements (% change): 16-Aug-2010