Jan 21 2020
Transport & logistics
Recent Research
avation, Commencing formal sale process
Jan 6 2020
Meet your Transport & logistics Research team
easyJet
Strong Q1 underpins revenue upgrade for H1
easyJet is delivering a stronger-than-expected pricing performance through winter. This is underpinned by self-help initiatives, a helpful capacity backdrop and robust consumer demand –...
Hostelworld
2019 in line; Growth Roadmap update due on March 4th
Hostelworld’s strategic priorities, as outlined at its Capital Markets Day (CMD) in November 2018, revolve around returning the business to growth. Management is pleased with continued...
Airlines
Acute supply constraints underpin pricing optimism – our 2020 vision
The European airlines space is on an improving trajectory, both structurally and cyclically. The unwind of Brexit risk has aided sector valuations in recent months, and we believe supply...
Ryanair Holdings
Raising guidance; very strong momentum
In advance of its Q3 results on February 3rd, Ryanair has raised FY 2020 profit guidance to a new range of €950-1,050m from €800-900m. We believe momentum into the summer in a very...
IAG
Changing of the guard: Willie Walsh will retire and be succeeded by Luis Gallego
After a 15-year career as CEO of first BA (and before that CEO of Aer Lingus) and then International Consolidated Airlines Group (IAG), Willie Walsh will retire on June 30th. Walsh has...
avation
Commencing formal sale process
Avation is a small but agile aircraft lessor that has quickly and profitably built an attractive fleet of young aircraft. The investment case, where further scaling would provide...
Year-end Document
2020: Irish economy stocks primed for performance
The factors that impeded the performance of stocks exposed to the fast-growing Irish economy in 2019 are now largely factored into forecasts. With valuations remaining attractive in...
Aircraft leasing
Updating forecasts; sector well-placed into 2020
The fundamental underpinnings of the aircraft leasing sector remain broadly positive as we enter 2020, even if the MAX has added a layer of uncertainty. In light of recent updates, we...
Irish Continental Grp
Steady as she goes; well-placed for 2020
Irish Continental Group (ICG) continues to deliver and remains a high-quality infrastructure play. We see our FY 2019 and FY 2020 EBITDA forecasts of €87m and €99m respectively as well...
Wizz Air Holdings
Solid Q2 allows tightening of full-year net income range
Wizz Air has delivered a solid second quarter, broadly in line with expectations. Ancillaries per passenger continue to underpin much of the growth, up 18% in the half at a good...
