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Feb 20 2020, 07:30 GMT
Air France KLM
Good cost performance in 2019 but Covid-19 virus has weakened forward bookings
- Sectors : Airlines
- Companies : Air France KLM
DAVY VIEW
A good cost performance in Q4 and robust cost and capacity 2020 guidance are probably offset by the -€150-200m impact on the operating result for February-April 2020 from the Covid-19 virus, with unit revenue expected to be down in Q1 and long-haul forward bookings down 3-5 points from February to May. However, with a €300m decrease in the fuel bill, there is unlikely to be material movement on 2020 estimates for now. Conference call at 07:15 CET.
