Air France-KLM : EBITDA at breakeven and robust bookings but fuel taking a toll
>Job done: Q1 2022 EBITDA at breakeven (and even slightly positive) - Air France-KLM is due to report its Q1 2022 figures on 5 May. Despite the adverse effects of the spread of the Omicron variant and the war in Ukraine, we think that the company will deliver on its target of breaking even at the EBITDA level. We model EBITDA of € 22m (-€ 267m in Q1 2021) for sales of € 4.14bn, up 92%, thanks to capacity that is now back at close to 77% of the Q1 2019 level. Transavi...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.
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