Travel Stockwatch

Friday, 28 Mar, 2003 0

UK: Another bad day for shares in airlines and travel retailers

Fears that the war in Iraq could drag on for weeks were blamed for a difficult day on London’s exchanges yesterday. The FTSE 100 index of leading shares ended the day 64 points down at 3729.1 – a decline of 1.7 per cent to its lowest level in eight days – while the broader-based FTSE 250 fared slightly better with a fall of 0.6 per cent. It was a moderately busy day with a total of 2.4 billion shares traded in all.

In the airline sector, there were very few positives yesterday. British Airways had another bad session, losing 5.5p to end the day at 112.5p, while EasyJet also suffered losses, closing at 239p after a 5.75p reverse. Ryanair lost 4p to close at 451p. High Street concerns fared little better; First Choice lost a penny to close at 84p while MyTravel ended the day at 10.5p, down 1.5p. The online travel company ebookers was static at 227.5p and its rival lastminute.com lost 0.25p to close at 84.25p.

The airport retailer and in-flight food supplier Alpha Airports released its full-year figures yesterday – and has been given a “hold” recommendation by The Independent’s share tipster Stephen Foley. The group has seen its food business suffer in recent months but has seen takings at airports increase with the rapid rise of no-frills services; in all, profits were up 15 per cent in the year to 31 January. Alpha is therefore “making progress and should prosper in the medium term”, the newspaper suggests.



 



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