Air France-KLM

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.
  • TickerAF
  • ISINFR0000031122
  • ExchangeEuronext Paris
  • SectorTravel & Leisure
  • CountryFrance

Analysts

Christophe-Raphaël Ganet ...
  • Jean-François Granjon
  • Olfa Taamallah
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 09/10/2019

...

Christophe-Raphaël Ganet ...
  • Jean-François Granjon
  • Olfa Taamallah
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 10/09/2019

...

Olfa Taamallah ...
  • Yan Derocles

Air France-KLM : Weak pricing in the short term vs consolidation opportunity to be seized

>Weakness of pricing in August = difficult to maintain RASK stable in Q3 - With the publication of disappointing data for August in terms of tariffs, we think that the target of stable unit revenues excl. forex for Q3 2019 in the passenger business now looks like it will be difficult to meet. We therefore prefer to adjust our unit revenue assumption excl. forex to a decline of -0.7% in Q3 and of -0.2% in Q4 (vs 0% and +0.8% previously anticipated). Our EBIT estimate ...

Olfa Taamallah ...
  • Yan Derocles

Air France-KLM : Faiblesse du pricing à court terme vs opportunité de consolidation à saisir

>Faiblesse du pricing en août = RASK stable difficile à tenir au T3 - Avec la publication d’un mois d’août décevant en termes de tarifs, nous pensons que l’objectif de stabilité de la recette unitaire hors change sur le T3 2019 dans l’activité Passager sera désormais difficile à tenir. Nous préférons donc ajuster notre hypothèse de recette unitaire hors change pour désormais attendre un recul de 0.7% au T3 et de 0.2% au T4 (vs 0% et +0.8% précédemment anticipé). Notre...

Olfa Taamallah ...
  • Yan Derocles

Air France-KLM : Weak pricing in the short term vs consolidation opportunity to be seized

>Weakness of pricing in August = difficult to maintain RASK stable in Q3 - With the publication of disappointing data for August in terms of tariffs, we think that the target of stable unit revenues excl. forex for Q3 2019 in the passenger business now looks like it will be difficult to meet. We therefore prefer to adjust our unit revenue assumption excl. forex to a decline of -0.7% in Q3 and of -0.2% in Q4 (vs 0% and +0.8% previously anticipated). Our EBIT estimate ...

Olfa Taamallah ...
  • Yan Derocles

Air France-KLM : Faiblesse du pricing à court terme vs opportunité de consolidation à saisir

>Faiblesse du pricing en août = RASK stable difficile à tenir au T3 - Avec la publication d’un mois d’août décevant en termes de tarifs, nous pensons que l’objectif de stabilité de la recette unitaire hors change sur le T3 2019 dans l’activité Passager sera désormais difficile à tenir. Nous préférons donc ajuster notre hypothèse de recette unitaire hors change pour désormais attendre un recul de 0.7% au T3 et de 0.2% au T4 (vs 0% et +0.8% précédemment anticipé). Notre...

Fatma Ayachi ...
  • Olfa Taamallah
  • Yan Derocles

Air France-KLM : A new flight plan for profitability

The new strategy, the foundations of which Ben Smith is methodically consolidating, could add an extra 200bp of EBIT margin (vs. 4.6% in 2019) thanks to the activation of the levers in management’s hands over the next three years. Support from the pilots would facilitate a radical change and a re-rating with a best case adding € 20 to our target price. Buy recommendation reiterated. The stock is part of our Large Cap Convictions List. - - >200bp additional EBIT margin withi...

Fatma Ayachi ...
  • Olfa Taamallah
  • Yan Derocles

Air France-KLM : Armement de la stratégie et vérification des leviers actionnables

La nouvelle stratégie, dont Ben Smith consolide actuellement méthodiquement les fondations, pourrait apporter un supplément net de 200 pb de marge EBIT (vs 4.6% en 2019) grâce à l’activation de leviers à la main du management à horizon 3 ans. Une adhésion des pilotes rendrait possible une évolution en profondeur et une appréciation des multiples avec un best case ajoutant 20 € à notre OC. Achat réitéré. Le titre fait partie de notre liste de Convictions large caps. - >200 ...

ING
Research Department

Benelux Morning Notes

Air France-KLM: Doing reasonably, but no more. Euronext: Markets remain sluggish in June. FNG: In talks to acquire Ellos Group

1 director bought

A director at Air France - Klm bought 50,000 shares at 8.613EUR and the significance rating of the trade was 94/100. 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 clearly showing Close periods where trading activity is restricted under listing rules. The names of bo...

Christophe-Raphaël Ganet ...
  • Jean-François Granjon
  • Olfa Taamallah
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 09/10/2019

...

Christophe-Raphaël Ganet ...
  • Jean-François Granjon
  • Olfa Taamallah
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 10/09/2019

...

Anis Zgaya ...
  • Hana Maalej
  • Jean-François Granjon
  • Khaled Ben Amor
  • Michael Foundoukidis
  • Olfa Taamallah
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 05/28/2019

...

Anis Zgaya ...
  • Hana Maalej
  • Jean-François Granjon
  • Khaled Ben Amor
  • Michael Foundoukidis
  • Olfa Taamallah
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 28/05/2019

...

Air France-KLM

Air France-KLM

AIR FRANCE-KLM sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of AIR FRANCE-KLM (FR), a company active in the Airlines industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date July 16, 2019, the closing price was EUR 9.02 and its potential was estimated at EUR 10.48.

Air France-KLM

Air France-KLM

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