Ryanair, IAG to Benefit as Competitors Reduce Capacity
Dow Jones
Oct 06
1354 GMT - British Airways owner International Consolidated Airlines Group and Ryanair are the best protected in the sector, Bernstein's Alex Irving and Antoine Madre write. "Both should benefit whether fuel prices fall or remain elevated, as weaker competitors would come under greater pressure to reduce capacity," they say. They add that winter is likely to be particularly challenging for European airlines given high fuel costs. Bernstein has outperform ratings on both airlines' stock. It has a 30 euro target price on Ryanair and a 550 pence target on IAG. Ryanair shares are up 2.3% at 24.21 euros, while IAG shares are 1.4% higher at 440.20 pence.
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