Travel shares dip
Two struggling travel industry firms hit the business headlines yesterday. Eurotunnel revealed net losses of 119 million euros (£78.5 million) for the first six months of the year, and MyTravel announced it was shedding 540 jobs to save money.
Eurotunnel, which has been engaged in a price war with cross-Channel ferry firms and low-cost airlines, said it hoped to boost operating profits in 2005, but its share price slumped as a result of the big net loss. Holiday firm MyTravel said job cuts would include pilots and cabin crew, and that it was also reducing its fleet of aircraft by nine down to 21.
The FTSE 100 closed 39.3 points down at 4287.0 and the FTSE 250 was down too, 63.2 points lower at 5927.9.
Alpha Airports 87p DOWN 0.5p
BAA 549.5p DOWN 2p
British Airways 229p DOWN 5.75p
Carnival 2510p DOWN 33p
De Vere 438.75p UP 9.25p
easyJet 152p up 0.75p
ebookers 221P down 5P
Eurodisney 24.5p NO CHANGE
Eurotunnel 20.25p DOWN 2.25p
First Choice 120.5p DOWN 0.25p
Hilton Group 250p DOWN 0.75p
Holidaybreak 485.5p DOWN 9.5p
Intercontinental 576p DOWN 4p
lastminute.com 1.59p UP 2p
MyTravel 6.75p NO CHANGE
P&O 223.75p DOWN 1.5p
Rank Group 290.25p DOWN 3p
Ryanair 307.75p DOWN 3p
Stagecoach 87.5p DOWN 1.5p
TBI – 66.25p DOWN 1p
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