Skyfall for airline company shares
Airline company shares plummeted after yesterday’s court ruling regarding flight delay compensation. A decision that will cost the airlines tens of millions on a yearly basis. The ruling appears to have its effect on the share prices of airline companies.
Yesterday, IAG’s (British Airways) share price dropped 3 percent, Air France-KLM almost lost 4 percent and Lufthansa’s shares have fallen with 3 percent. It’s a blessing for air passengers, but a curse for airline companies. “We have looked forward to this ruling as it is vital to have clarity towards all parties involved. We didn’t expect such a large-scale impact, but we are cheerful for the air passengers,” says Raymond Veldkamp of Flight-Delayed.co.uk.
Written by: Flight-Delayed