Report
Olfa Taamallah ...
  • Yan Derocles

Air France-KLM : Saison hivernale compliquée mais liquidité suffisante

>Un T4 compliqué et un décalage de la reprise mais … - Les re-confinements annoncés récemment en Europe rendent la fin de l’exercice compliqué avec un nouvel ajustement de capacité à la baisse. Nous tablons sur un recul de 64% sur l’activité Passage (contre -58% au T3 et -89% au T2) avec un mois de novembre particulièrement compliqué. En dépit d’une variabilisation de certains coûts, nous modélisons un EBITDA en perte de 622 M€ (y compris poursuite des systèmes de chô...
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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