Transport & logistics

Meet your Transport & logistics Research team

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...


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...