AFLYY Stock Recent News

Air France-KLM SA (OTCPK:AFRAF) Q2 2023 Earnings Conference Call October 27, 2023 2:30 AM ET Company Participants Benjamin Smith - CEO Steven Zaat - CFO Conference Call Participants Jarrod Castle - UBS Alexander Irving - Bernstein Sathish Sivakumar - Citi Muneeba Kayani - Bank of America Harry Gowers - JPMorgan Conor Dwyer - Morgan Stanley Stephen Furlong - Davy Neil Glenn - Air Control Tower James Hollins - BNP Paribas Andrew Lobbenberg - Barclays Operator Good morning and welcome to the Air France-KLM Third Quarter 2023 Results Presentation. Today's conference is being recorded.

Air France-KLM (OTC:AFLYY) has unveiled a record €1.34 billion operating profit for the third quarter, a 31% year-on-year increase, propelled by a surge in summer bookings, similar to results reported by British Airways owner IAG on the same day. Although the figures fell slightly short of the €1.37 billion consensus forecasts, costs outperformed expectations, attributed to effective jet fuel price hedging.

The airline sector was in the spotlight on Friday in Europe, with International Consolidated Airlines and Air France-KLM shares both under pressure as record third quarter profits, were overshadowed by the looming threat of rising fuel prices and war in the Middle East.

Air France passengers, whether sprawled-out in first-class or cheek-by-jowl in economy, get a free glass of champagne. It's important tradition and for now, profitable.

Air France-KLM has a history of failed equity investments in European airlines. The company is now investing in SAS AB, aiming to strengthen its position in the Nordic markets and weaken Lufthansa's influence. Air France-KLM is also eyeing a stake in TAP Portugal to maintain access to the South American market and potentially force the airline to leave the Star Alliance.

Shareholders in Swedish airline SAS may well have been sending SOS signals this morning, as shares in the carrier plummeted by over 80% early on following news of a rescue deal. Having filed for bankruptcy protection in the US last year, SAS announced on Tuesday that American investor Castlelake and Air France-KLM (OTC:AFLYY) would become major shareholders as part of a restructuring of the business.

Jacob Pedersen, head of equity research at Sydbank, discusses the restructuring deal of the Scandinavian airline SAS, which includes fellow airline company Air France-KLM becoming a new major shareholder.

Dutch airline KLM responded to the Dutch transport ministry's announcement that the government would press ahead with its plan to cut the number of flights at Amsterdam's Schiphol airport next year, calling the measure "unnecessary" and damaging for the country.

If you are looking for stocks that have gained strong momentum recently but are still trading at reasonable prices, Air France-KLM SA (AFLYY) could be a great choice. It is one of the several stocks that passed through our 'Fast-Paced Momentum at a Bargain' screen.

The company's net debt was further reduced by €1 billion. Air France-KLM is focusing on improving its balance sheet, which is a positive catalyst to address investor concerns. The company is taking steps to achieve the medium-term core operating margin. Therefore, the company is now a buy on our list.