Report
Olfa Taamallah ...
  • Yan Derocles

Air France-KLM : Liquidité suffisante mais endettement toujours inadapté à la future capacité de FCF

>Un T4 finalement en ligne avec les attentes - Air France-KLM a publié une perte opérationnelle au T4 2020 de 1 134 M€, au premier abord plus faible que les attentes du consensus (1 276 M€), mais intégrant la comptabilisation d’une recette exceptionnelle de 150 M€ liée au mécanisme NOW de chômage partiel en Hollande qui aurait dû impacter le T2. Soulignons toutefois un meilleur contrôle des coûts en recul de 52% pour un CA en chute de 64%. La baisse des charges a comp...
Underlying
Air France-KLM SA

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.

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
Olfa Taamallah

Yan Derocles

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