Report
Mateo Salcedo

Air France-KLM : European airlines to fly higher in 2025

After a Q3 marked by lower profitability mainly from external factors and difficult conditions in certain regions, we expect European airlines to deliver a rather good Q4. This comes amid yield stabilization, better load factors, and continued good demand as stated by the different airlines managers. Looking into 2025, while new headwinds are at sight (i.e. higher taxes), profitability should improve thanks to continued good demand and cost saving initiatives launched to readdress the operating performance at some airlines.
Underlyings
AIR FRANCE - KLM

DEUTSCHE LUFTHANSA AKTIENGESELLSCHAFT

Deutsche Lufthansa is an aviation group based in Germany. Co. maintains global operations and a total of more than 500 subsidiaries and associated companies. Co. operates in five major business segments: scheduled passenger air traffic ("Passenger Airline Group"); scheduled airfreight services ("Logistics"); maintenance, repair and overhaul ("MRO"); information technology ("IT Services") and catering ("Catering").

International Consolidated Airlines Group SA

International Airlines Group is an international scheduled airline and global premium airlines. Co.'s principal place of business is London with significant presence at Heathrow, Gatwick and London City airports.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Mateo Salcedo

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