European LCC shares lower; Virgin Blue forecasts loss
Cebu Pacific plans to expand its fleet from 29 to 47 aircraft over the course of the next five years. Shares in European LCCs finished trading lower on Tuesday, on a generally negative day for LCC shares. In the Asia-Pacific region, Virgin Blue announced it expects to report an AUD30-80 million pre-tax loss for FY2011, while Cebu Pacific announced it plans to expand its fleet from 29 to 47 aircraft over the course of the next five years.
