UK and Irish airline stocks down
Shares in carriers based in the UK and Ireland were down yesterday, with Irish carrier Aer Lingus the hardest hit, losing 5.6%. The carrier reported that its industrial dispute with pilots earlier this year severely affected Feb-2011 traffic. easyJet, Dart Group and Thomas Cook Group were all down, as were Ryanair and Flybe.
- Passenger numbers:
- Icelandair: 79,136, +16% year-on-year;
- Air Iceland: 25,238, -4%;
- Load factor:
- Icelandair: 70.7%, +4.0 ppts;
- Air Iceland: 71.1%, -0.1 ppt.
Ryanair testified the Competition Appeal Tribunal that UK Office of Fair Trading waited too long to commence a probe of its minority stake in Aer Lingus Group. Ryanair stated the Office of Fair Trading behaved “erratically” and without transparency by deciding to investigate Ryanair’s 30% holding in its rival four years after the share purchase was completed.
Selected EAD daily share price movements (% change): 10-Mar-2011