Air France-KLM : Q3 preview - Acceleration of the yield and cash preservation
>Still buoyant price environment in Q3 - On 28 October, Air France-KLM is scheduled to report Q3 2022 numbers that we expect to be very solid, with adjusted EBIT of € 873m on revenues of € 7,653m (+67.6%), i.e. a margin of 11.4%. This strong performance is mainly driven by i/ a pricing environment that remains buoyant with a yield that we model up by 17% on the Q3 2019 figure (vs +15% in Q2 2022); buoyed notably by premium clients and geographically by Central America...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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