(News Bulletin 247) – Oddo BHF maintains its ‘neutral’ rating on the Air France-KLM share, with an unchanged price target of 2.1 euros.
While the airline will publish its quarterly results on July 28, Oddo BHF anticipates an adjusted EBIT of 638 ME for a turnover of 7572 ME.
“We model an Adjusted FCF of 272 ME (after 683 ME in Q1) still driven by the improvement in EBITDA and reservations,” adds the analyst.
Oddo BHF believes that after the salary agreements on the side of Air France and the ongoing negotiations at KLM, ‘the company will have to demonstrate its ability to control the trajectory of unit costs but also reassure on the pricing trend’.
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