Air France-KLM : Des progrès remarquables mais le désendettement doit être réglé
>Un effet de levier opérationnel largement au-delà de nos attentes au T3 - Au-delà de l’environnement que nous aborderons plus tard, le principal enseignement de la publication T3 2021 est à nos yeux l’ampleur du levier opérationnel. En prenant pour base de référence l’exercice 2019, les Opex hors carburant (ex-D&A) T3 affichaient un recul de 34% par rapport au T3 2019 pour une baisse du CA de 40%, soit une variabilité des coûts de 84% en accélération par rapport au T...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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