Global airline stocks trade weak in European markets after concerns about a new virus intensify. The novel coronavirus infection has killed over 34 people and can be transmitted between humans, according to the World Health Organization. On watch: Delta Air Lines (DAL), United Continental (UAL), China Eastern Airlines (CEA), China Southern Airlines (ZNH), Copa Holdings (CPA), Gol Linhas (GOL), Latam Airlines (LFL), Air France-KLM (AFLYY.PK), Deutsche Lufthansa (DLAKY.PK)
While some analysts pin JetBlue's (JBLU) 7.3% drop to a rogue pilot tarnishing its brand, a big part of the move likely stems from Lufthansa's (DLAKY.PK) decision to reduce its stake in the carrier with a corporate bond exchange.
Global airline stocks are higher today on the temporary abatement of Europe's crisis: Ryanair (RYAAT.PK +6.8%), Lufthansa (DLAKY.PK +4.5%), Air France (AFLYY.PK +7.4%), Delta (DAL +1.6%), AMR Corp. (AMR +3%).
Airline stocks are falling in Europe as Iceland's recent volcanic eruption threatens to send an ash cloud into U.K. airspace by tomorrow. At present, the only airspace closures expected are in Iceland. In European trading, Easyjet -4.9%, Ryanair -5.3%, Air France -3.3%, Deutsche Lufthansa -3.7%. (previously)
The Lufthansa Group is an aviation group with global operations and a total of more than 400 subsidiaries and associated companies. It is divided into five business segments, which cover the areas of passenger transportation, airfreight and airline services: Passenger Airline Group, Logistics,...More