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Jul 31 2025, 08:38 IST/BST
Air France KLM
Q2 consensus beat; full-year outlook reconfirmed
- Sectors : Airlines
- Companies : Air France KLM
DAVY VIEW
Air France’s operating result of €736m (€223m above last year) resulted in a 9% beat to consensus estimates of €675m. Revenues were up 6.2% year-on-year (yoy), driven by higher capacity 4.2%, with higher unit revenues of 2.5% leading to margin expansion of 2.3ppt to 8.7%. The group reconfirmed its full-year outlook; FY25 consensus operating income €1,880m, Davy €2,018m. We do not expect to materially change our forecasts and anticipate upside to consensus numbers.
