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Ryanair investors told “fasten seat belts”
There were mixed fortunes for travel and tourism shares yesterday as London’s equity markets stagnated somewhat.
The FTSE 100 index dropped 16.4 points to end the day at 4972.1, while the FTSE 250 gained 8.7 points to close at 7184.1.
While Ryanair made a small gain, The Times cast doubts over the shares and warned investors to “fasten their seat belts” following the carrier’s announcement that it is to buy 70 aircraft from Boeing.
The newspaper predicts that to cover the cost of the purchase, Ryanair will have to find 70 million passengers by the end of the decade.
Avis Europe gained 1.5p to close at 59p after announcing it had halved its losses in 2004 but said that trading conditions remained tough.
CenterParcs dropped 3.25p to 77.5p after a profits warning and admitting that weak trading over the winter period would affect results.
Alpha Airports 101.5p NO CHANGE
Avis Europe 59p UP 1.5p
BAA 612.5p UP 6p
British Airways 267.75p DOWN 2.25p
CNG Travel Group 95p NO CHANGE
Carnival 2975p DOWN 33p
CenterParcs 77.5p DOWN 3.25p
De Vere 545p UP 2p
EasyJet 230.75p UP 3.75p
ebookers 319p NO CHANGE
EuroDisney 10p DOWN 1p
Eurotunnel 17p NO CHANGE
First Choice 171.5p DOWN 0.5p
Hilton Group 314p UP 2p
Holidaybreak 651.5p DOWN 4p
Intercontinental 669p UP 5p
Lastminute.com 102p DOWN 1.75p
MyTravel 6p UP 0.125p
P&O 308.75p UP 2p
Rank Group 284.75p UP 1.75p
Ryanair 422.5p UP 0.625p
Stagecoach 112.25p UP 0.25p
Report by Tim Gillett, News From Abroad Ltd
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