Moody's Ratings announces completion of a periodic review of ratings o...

Moody's Ratings (Moody's) has completed a periodic review of the ratings of Deutsche Lufthansa Aktiengesellschaft and other ratings that are associated with this issuer. The review was conducted through a rating committee held on 18 December 2024 in which we reassessed the appropriateness of the ra...

Air France-KLM : European airlines to fly higher in 2025

After a Q3 marked by lower profitability mainly from external factors and difficult conditions in certain regions, we expect European airlines to deliver a rather good Q4. This comes amid yield stabilization, better load factors, and continued good demand as stated by the different airlines managers. Looking into 2025, while new headwinds are at sight (i.e. higher taxes), profitability should improve thanks to continued good demand and cost saving initiatives launched to readdress the operating ...

Air France-KLM : European airlines to fly higher in 2025

Credit Morning 12/02/2024

ELO (Auchan): Decathlon is to pay € 1bn in dividends|Mahle reorganizes its structure and plans to introduce its Indian activities|Altarea monetizes several logistics assets|Bertrand Franchise : slower growth in Q3 24, impacted by a weaker-than-expected JO effect, in a more difficult economic environment in France|

Morning Crédit 02/12/2024

ELO (Auchan) : Decathlon va verser 1 md EUR de dividendes à ses actionnaires|Mahle réorganise sa structure et envisagerait d’introduire ses activités indiennes|Altarea monétise plusieurs actifs logistiques|Bertrand Franchise : tassement de la croissance au T3 24, impacté par un effet JO moins fort que prévu, dans un contexte économique plus difficile en France.|

Credit Morning 11/12/2024

SoftBank Group: significant pre-tax profit in H1 2024-25.>...

Morning Crédit 12/11/2024

SoftBank Group : résultat avant impôts significatif au S1 2024/25>...

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/31/2024

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ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 31/10/2024

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Lufthansa : Yield ultimately under control in Q4 but it will take time...

>A more favourable underlying trend than the FY 24 guidance may imply - Although the FY 24 RASK guidance seems disappointing at first glance (mid-single digit decline vs -4.6% at 9M), it can be explained only by a high comparison base in Q4 2023 which benefited from the booking of exceptional items (compensation payments from OEMs and Covid provision releases). We think that growth in the booking seat load factor for November and December bodes well for the ultimate y...

Lufthansa : Un yield finalement sous contrôle au T4 mais la reprise en...

>Une tendance sous-jacente plus propice que la guidance FY 24 le laisse supposer - Si la guidance de RASK FY 24 parait décevante au premier abord (« MSD decline » vs. -4.6% aux 9M), elle s’explique uniquement par une base de comparaison élevée au T4 2023 qui avait bénéficié de la comptabilisation d’éléments exceptionnels (compensation des OEM et reprise de provisions COVID). Nous pensons que la belle progression du remplissage pour les sièges déjà réservés sur novembr...

Credit Morning 10/29/2024

Eramet: downgraded to Ba3/negative from Ba2/stable by Moody’sNexans has reportedly rejected a takeover bid approach from CD&R (La Lettre)>...

Morning Crédit 29/10/2024

Eramet : downgrade de Ba2/stable à Ba3/négatif par Moody’sNexans aurait rejeté une approche du fonds CD&R selon La Lettre>...

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/29/2024

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ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 29/10/2024

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Lufthansa : Q3 2024 adj. EBIT 1.8% above css. Solid booking trend shou...

>Q3 2024 Adj EBIT >1.8% css – Solid Adj. FCF - Lufthansa Q3 2024 came out slightly above consensus estimates. Adjusted EBIT was € 1,340m (ODDO BHF: € 1,405m, company-compiled consensus: € 1,316m), 1.8% above css for revenues up 4.5% to € 10,738m i.e. a margin of 12.5% (-180bp). In detail: i/ RASK fell by 2.7%, supported by a higher load factor (+0.9%) and despite ASK up 6.4%, mainly due to Asia Pacific (RASK -15.1%) whereas Europe was performing well (+0.4%) and North...

Lufthansa : Q3 2024 adj. EBIT 1.8% above css. Solid booking trend shou...

>Q3 2024 Adj EBIT >1.8% css – Solid Adj. FCF - Lufthansa Q3 2024 came out slightly above consensus estimates. Adjusted EBIT was € 1,340m (ODDO BHF: € 1,405m, company-compiled consensus: € 1,316m), 1.8% above css for revenues up 4.5% to € 10,738m i.e. a margin of 12.5% (-180bp). In detail: i/ RASK fell by 2.7%, supported by a higher load factor (+0.9%) and despite ASK up 6.4%, mainly due to Asia Pacific (RASK -15.1%) whereas Europe was performing well (+0.4%) and North...

ODDO : Majors begin a phase of upward revisions

Thanks to unit revenue that has proven more resilient than anticipated, real discipline on capacity and a decline in the fuel bill, we expect margins to recover, especially for the legacies. IAG remains our top pick. We are upgrading Air France-KLM and Lufthansa to Neutral and downgrading Ryanair to Underperform as well as WizzAir on Neutral. - >Sights on the legacies: IAG remains our top pick, Air France and Lufthansa upgraded to Neutral - We have the legacies in our ...

ODDO : Les majors amorcent leur phase de montée

Grâce à une recette unitaire qui se tient mieux que prévu, une discipline capacitaire notable et une baisse de la facture carburant, nous anticipons un rebond des marges tout particulièrement pour les majors. IAG reste notre valeur préférée. Nous relevons Air France-KLM et Lufthansa à Neutre et abaissons Ryanair à Sous-performance ainsi que Wizz Air à Neutre. - >Cap sur les majors: IAG en top pick, Air France et Lufthansa relevées à Neutre - Nous mettons le cap sur le...

Deutsche Lufthansa AG: 1 director

A director at Deutsche Lufthansa AG sold 10,000 shares at 5.900EUR and the significance rating of the trade was 54/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years cl...