Air France-KLM : Deterioration in cargo but also many one-off items
>Q3 finally in line with our forecasts excluding exceptional items - Q3 2019 operating profit came in at € 900m (Oddo BHF: € 928m, consensus: € 957m) incorporating around € 30m in unfavourable one-off items including: i/ around € 10m in unpaid receivables on maintenance work following the bankruptcies of Aigle Azur and XL Airways, ii/ approx. € 10m in compensation for Delta in return for the EU261 compensation paid by the US airline following the strike at Air France ...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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