In a similar vein to Lufthansa’s and IAG’s recent results, Air France-KLM has capitalised on a solid demand backdrop with another positive pricing performance in Q3. Unit revenue was +4.1%, 2pts stronger than Q2 (+1.9%). Importantly, this is expected to continue into Q4 and long-haul bookings are ahead for the next four months. Elsewhere, net debt and leverage levels also continue to trend positively.
Davy research
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