Air France-KLM : The winter season looks set to be more complicated even though capacity remains higher than at peers
>The summer was actually fairly decent... - Following contact with the company, we understand that the first half of Q3, i.e. the peak of the summer season, was relatively decent with capacity broadly in line with the most recent guidance (around -55% vs 2019) and a satisfactory yield. As is the case for peers, the deterioration has been notable since the end of August. We think that EBITDA cash could therefore be positive for the first two months of Q3 vs an average ...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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