Air France-KLM : Sales up but margins down: focus on unit costs evolution
We still see some investment opportunities in the European airline sector despite the strong rally experienced at the end of last year. While we see some pressures in operating margins over 2024, fundamentals remain solid. Our top pick is Lufthansa, notably the hybrid bond, as we expect it to continue posting positive cash generation and maintaining a very low net leverage. Finnair’s EUR 2025 is also a strong conviction for us after the rebound in profitability and the capital in...
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 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.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.