Air France-KLM's Olympics Hit Surprises -- Market Talk

Dow Jones07-25

1014 GMT - Air France-KLM's operating profit missed expectations as its result was partly driven by 3% higher unit costs and 2% higher depreciation and amortization, Deutsche Bank analysts say in a research note. The French carrier attributed its EUR513 million in operating profit missing consensus of EUR541 million to sluggish performances of KLM and Transavia, with Air France also negatively hit by the Paris Olympic Games. "The magnitude of the Olympics hit is surprising but it had been flagged. We see a 5% cost-driven miss on EBIT and materially higher net debt, so little to encourage," the analysts say. Shares trade 3.6% higher to EUR8.16. (pierre.bertrand@wsj.com)

(END) Dow Jones Newswires

July 25, 2024 06:15 ET (10:15 GMT)

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