Eddington: Airlines are going to go bust
There were several significant moves among travel and tourism shares yesterday as London’s equity markets slumped. The FTSE 100 index dropped 23.2 points to end the day at 4716.6, while the FTSE 250 had a similar session, falling 41.7 points to close at 6474.4. Shares in British Airways fell 5.5p to 219p after it posted better-than-expected results but gave a less-than-optimistic forecast for the future. While the carrier’s three-month pre-tax profits jumped to £220 million, chief executive Rod Eddington warned that there was nothing to suggest that markets were getting any easier. Eddington reportedly added: “We may be making money but the vast majority of people aren’t. Something has got to give. People are going to go bust.” Ryanair’s shares had a very successful day, adding 15.99p to close at 356.2p. Alpha Airports 95p NO CHANGE BAA 585.5p UP 3p British Airways 219p DOWN 5.5p Carnival 2920p DOWN 55p De Vere 431.25p DOWN 1.75p EasyJet 179p UP 2.5p ebookers 278p DOWN 11p EuroDisney 18p NO CHANGE Eurotunnel 17.25p DOWN 0.75p First Choice 137p DOWN 1p Hilton Group 266p UP 1p Holidaybreak 546.5p DOWN 3.5p Intercontinental 670p DOWN 7.5p Lastminute.com 111.75p DOWN 0.5p MyTravel 4p DOWN 0.25p P&O 272p DOWN 1p Rank Group 283.25p UP 0.25p Ryanair 356.2p UP 15.99p Stagecoach 88.75p DOWN 3p TBI 72.5p NO CHANGE Report by Tim Gillett, News From Abroad Ltd
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