Nov 21 2024
Transport
Recent Research
IAG, Strong Q3 results and buyback
Nov 8 2024
Ryanair Holdings, Continues to deliver
Nov 4 2024
Lufthansa, Full year guidance maintained
Oct 29 2024
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Jet2 plc
Delivers another record H1
Jet2 has reported a record H1 FY25 headline profit before FX revaluation and taxation of £772.4m, 15% ahead of the Davy estimate of £671.1m. This is an increase of 16% on the prior...
IAG
Strong Q3 results and buyback
IAG has announced a buyback programme of €350m running to end-February. The Q3 results were strong with an operating result of €2,013m (consensus median: €1,776m; Davy: €1,802m)....
Air France KLM
Olympic Games impact on Air France and cost inflation for KLM deliver flat Q3 for group
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,...
Wizz Air Holdings
Full year guidance maintained
Wizz Air has maintained current PAT guidance for FY of €350-450m (Davy: €333.7m, consensus: €309m). H1 came in €315.2m, -21.3% year-on-year (yoy) (consensus: €316m). Revenue is...
Ryanair Holdings
Continues to deliver
A measured performance by Ryanair, which is in line with market expectations – H1 net profit €1.79bn (consensus: €1.804bn, Davy: €1.808bn). While no formal guide was given, “forward...
Lufthansa
Full year guidance maintained
After warning twice this year, Lufthansa has – perhaps not unsurprisingly – maintained full year guidance of adjusted EBIT €1.4-1.8bn (Davy €1,624m, consensus €1,614m). Key from here will...
Norwegian Air
Solid Q3 but profit range for year narrowed
Norwegian Air’s operating profit in Q2 was solid at NOK2,128m (Norwegian EBIT: NOK1,936m, Widerøe: NOK192m) but a little behind market expectations (NOK2,326m, Davy: NOK2,379m) with unit...
Hostelworld
Q3’24 update – FY24 aEBITDA guide maintained
Hostelworld released a trading update this morning for the year to date (ytd) to September 30th. Net revenue trends remain similar, but continued cost management improvements led to...
Airlines - low-cost carriers
Ultra low-cost carriers’ contrasting fortunes
Ryanair and Wizz Air both report Q2 results next month. The former will highlight its current growth and extensive cash generation. The latter continues to struggle with lack of growth...
Ryanair Holdings
EU ownership nearing 50%
In anticipation of 50% of its issued share capital being held by EU nationals with a 6-12 month timeframe, Ryanair has announced that it will review current EU ownership and control...
