Airlines benefit from appetite for cyclicals

European airlines have enjoyed a bounce over the last few weeks, according to Kevin McLardy, investment manager on the European desk at Britannic Asset Management. McLardy says the market has an appetite for cyclicals at the moment, as investors look for a recovery next year, and the airlines, by being cyclical in nature, are benefiting from this. 'With a lot of liquidity now coming into the market, investors are more prepared to look through the bad news,' he says. 'However, you still have to be selective when picking stocks ' the low-cost models such as easyJet and Ryanair ar...