Sep 17 2019
Transport & logistics
Recent Research
Airlines, Who Dares Wins
Sep 9 2019
Datalex, Firmly in flux
Sep 6 2019
Hostelworld, Navigating a year of transition
Aug 21 2019
Meet your Transport & logistics Research team
Airlines
Who Dares Wins
It may not feel like it, but the structural underpinnings of the European airline sector continue to improve. Those that deliver, i.e. the five leading airlines, now control over 60% of...
Datalex
Firmly in flux
The situation at Datalex remains firmly in flux and certainty, alas, remains a distant aspiration. While today’s update is largely backward-looking – outlook and guidance will be discussed...
Irish Continental Grp
Investments should start to bear fruit
Irish Continental Group (ICG) will report interim results on August 29th. The focus will be on outlook, the deliverability of FY forecasts and recent trading. H1 statistics from Dublin Port...
Hostelworld
Navigating a year of transition
2019 has repeatedly been described as a year of transition at Hostelworld and so it is proving to be. While progress is evident in the areas that it can control, namely in the execution...
Air France KLM
Improved performance
New CEO Ben Smith is beginning to improve the performance of Air France (Q2 operating margin +3 points to 3.3%, although this was somewhat explained by last year’s strike). Q2...
AerCap Holdings
50% beat on Q2 EPS, core guidance raised by 10%
AerCap has managed to deliver an almost 50% beat on reported EPS, of which we estimate less than half was driven by gains on sale. These gains have become a stable feature of the...
Airlines - low-cost carriers
LCC summer preview: caution likely to prevail through earnings season
Since the last earnings season news flow has been difficult, with Brexit noise limiting UK consumer demand, rising fuel prices and MAX issues for Boeing operators. We expect that, while...
Airlines
Time to go long short(haul)
We think earnings momentum in the European airlines sector will inflect positively as we exit the winter trading season. Industry consolidation, reduced capacity growth and moderating...
Year-end Document
Ireland’s call: investment opportunities in 2019
The 21% decline in the Irish equity market in 2018 was at odds with on-going strength in the economy. With economic growth expected to exceed 5% in 2019 (subject to an on-going fudge...
