Air France-KLM Exposed to French Election Tumult, But Limited Impact Expected -- Market Talk

Dow Jones06-13

1317 GMT - Investor sentiment surrounding Air France-KLM could be impacted by France's elections, as the government is its largest shareholder and its unclear what impact the vote will have on the country's finances and politics. "[A] more uncertain fiscal and political backdrop could affect investor sentiment over the state's level of involvement going forward," Morgan Stanley analysts say in a research note. Air France-KLM, with 30% of its revenue coming from France, is unsurprisingly exposed to any election impacts, the analysts say. That said, the impact of France's election on airlines ought to be limited, the analysts say, highlighting that consumer appetite for travel has been resilient across Europe. Air France-KLM shares trade down 1.7% to EUR10.2. (pierre.bertrand@wsj.com)

(END) Dow Jones Newswires

June 13, 2024 09:34 ET (13:34 GMT)

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Air France-KLM, with 30% of its revenue coming from France, is unsurprisingly exposed to any election impacts, the analysts say. That said, the impact of France's election on airlines ought to be limited, the analysts say, highlighting that consumer appetite for travel has been resilient across Europe. Air France-KLM shares trade down 1.7% to EUR10.2. 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