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Travel Stockwatch
As the FTSE 100 index struggled to stay above the 4,000-point barrier yesterday, travel industry shares showed widely varying results on the day’s trading.
BA was riding high, with the third largest gain of the day, closing up 5.5 percent and 8.5p to finish on 163p after a strong set of traffic figures. Markets were undismayed by BA’s accompanying statements warning of weaker revenues in the first quarter than in the same period last year, and may have been buoyed by comments from Dutch Airline KLM that passengers were beginning to return to Asian routes after SARS.
In contrast, Ryanair shares went into a tailspin, ending 7.3 per cent down, closing 31.5p lower at 400p, after reporting disappointing passenger figures, not helped by reports of the approval, in Brussels, of plans forcing all carriers to pay heavy compensation for delayed and cancelled flights.
Rival no-frills airline easyJet saw shares slip 1.2 per cent to 230p with the announcement that founder Stelios Haji-Ioannou had sold 1.9 per cent of the airline’s stock to fund his easyCinema venture.
Elsewhere ebookers surged up 16.50p on the day, closing at 475p and lastminute.com gained 5.00p to end on 179.25p. MyTravel rose 1.25p to 22p, and First Choice Holidays was unchanged at 115p.
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