Easyjet suffers from Ryanair’s price promise as shares in online providers soar
There were some remarkable performances from travel industry shares yesterday as London’s equity markets moved ahead.
The FTSE 100 index gained 0.3 per cent in value, adding 10.9 points to close at 4126.6, while the broader-based FTSE 250 gained 23.7 points and closed at 4866.9. One of the busiest days in recent months saw dealers trade 3.1 billion shares before the 6pm count.
Within the travel industry, Easyjet suffered serious losses; losing 7p to close at 167.25p following Ryanair’s statement that it is to further reduce its fares by 10 per cent. Ryanair, by way of contrast, added 5.5p to close at 410p. British Airways also did well, putting on 4.75p for a 150p finish.
Online providers had a great day; lastminute.com surged ahead by 10p for yet another year-high of 152p – a huge contrast to the 12-month low of 30.25p. Ebookers jumped 11.5p to close at 411.5p – its low-point for the year was 92p. First Choice lost 2p to close at 101p, while MyTravel drifted down 0.4p for a 22p finish.
