Air France-KLM : A complicated winter season but enough liquidity
>A complicated Q4 and a postponement of the recovery but… - The reintroduction of lockdown measures recently announced in Europe makes the end of this financial year complicated with a new downward adjustment to capacity. We are forecasting a 64% decline in passenger activity (vs -58% in Q3 and -89% in Q2) with a particularly complicated month of November. Despite a variabilisation of certain costs, we are modelling EBITDA loss-making to the tune of € 622m (including ...Air France-KLM is a holding company. Through its subsidiaries, Co. is engaged in transporting passengers and cargo, aeronautics maintenance and other air-transport related activities, including catering and charter services. Co. operates in six geographical regions: Metropolitan France; Europe (except France) and North Africa; Caribbean, French Guiana and Indian Ocean; Africa, Middle East; Americas, Polynesia; and Asia and New Caledonia. Co. organizes its business around the following four segments: Passenger, providing passenger transportation services on scheduled flights; Cargo, transporting freight on flights and selling cargo capacity to third parties; Maintenance, and Other activities.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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