Volcanic ash cloud
April 26th, 2010 jls54321April 26th 2010 , Jesús López
The Volcanic ash cloud makes loos to Airlines 1,200 Millions E. on the stock exchange.
The main European Airlines face two days of big looses on the stock exchange due to the volcanic cloud coming from Iceland, which practically has shut down the space air of the Old Continent. The coldness numbers throws looses above to 1,200 Millions E. just in two seasons (yesterday and last Friday when the wonder matters started to being noticed at the main European Airports).
Significant figures regarding companies which so far do not appear among the big size ones in Internationals stock exchange markets.
Iberia, Air France-KLM and Lufthansa are so far the most punished values from the last Thursday, facing looses above 6%. The uncertainty translated into red numbers on the screens also has left print to big airlines of low-cost, especially to Easyjet, although Ryanair has held the storm with certain solvency ( its shares only have come down 2.5% in these two seasons).
The share holders are facing an uncertainty situation in front of the possibility that the authorities may take some measures in order to support the sector and minimize in some way the damages which have being caused by the volcanic cloud.
Daily looses.
The companies have started to evaluate the impact of the ash cloud on their economy. The estimations published in the last two days pressages negative consequences to the figures of the second three-month exercise.
The volcano eruption has matched the lowliness of the income comedown comparing to 2009 , the worst economic year in the history of air sector. The international association of transport air (I A T A ) esteems everyday looses in 150 Millions E.
Air France is the most affected company by the ash , on behalf talks that yesterday said its CEO , Pierre Henri Gourgeon a quarter part of the looses belongs to Air France.
The fore-sights by first executive of French airline are Citigroup as well. The finance entity issued yesterday a file about the impact on to the airlines regarding the enclosed in the main area of European space air. The enclosed almost all North and Centre European space air during the latest five days is probably the biggest trouble till now for the European Airlines. Could be worst than the seven days of shut-down in the US space air after the terrorism attacks on September the eleventh underlined bank’s specialists.
British Airways asked yesterday to European Union similar measures in order to fight against that crisis situation . In their case the daily looses could reach up to 20 Million pounds in the worst.
The Lufthansa figures also could be similar to Air France , according Citi. The SAS group worth each day impact between 5.2 and 9.3 Millions E. and the airport manager of United Kingdom BAA property of Ferrovial , in 5.7 Millions.