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Nov 7 2024, 08:52 GMT
Air France KLM
Olympic Games impact on Air France and cost inflation for KLM deliver flat Q3 for group
- Sectors : Airlines
- Companies : Air France KLM
DAVY VIEW
Air France KLM reported a Q3 operating result of €1,180m (flat year-on-year (yoy) excluding Olympic Games one-off (consensus: €1,248m, Davy: €1,306m). Capacity increased 3.6% yoy, passenger unit revenues -1% (+1.4% excluding Games impact) and unit cost inflation of 3.4% yoy. Cash at hand of €9bn and net debt/EBITDA ratio of 1.7x. The group expects its capacity in ASKs to increase by 4% yoy, in line with the previous guide. FY24 unit cost development is expected at +3% yoy (previously: 2%).
