Low-cost operators outstripping traditional airlines in Spain

17th Aug 2012 10:55

Low cost airlines now serve more passengers than traditional airlines in Spain, a Spanish tourist body reports. Low cost airlines operating in the country have boosted their number of passengers by 1.4% to 21 million so far this year. In the month of July alone, the number of passengers rose 4% to 4.6 million, according to the Instituto de Estudios Turisticos (Institute for Tourism Research) based in Madrid.In Spain, low cost airlines have served 57.8% of air passenger trafic through July, compared to 42.2% for traditional airlines. In July, low cost airlines served 60.6% of air passenger traffic versus 39.4% for traditional airlines.Morgan Stanley lowers price targets for airlinesIn a report on the European airlines sector, Morgan Stanley has lowered the price targets for several airlines.Morgan Stanley lowered its price target for International Airlines Group (IAG) to €2.25 from €2.50.It also lowered its price target for Lufthansa to €14.70 to €15.70 and EasyJet to 620 from 650 pence.Shares of IAG were up 0.42% to €1.904 on Friday morning. Lufthansa was down 0.84% to €9.907 and EasyJet was down 0.18% to 545 pence.MJ