MNI BRIEF: Japan June Core CPI Rises 2.6% Vs. May +2.5%

MNI BRIEF: Fed's Bowman Wants A More Effective Discount Window

MNI BRIEF: Fed Risks Soft Landing If It Doesn’t Cut - Goolsbee

MNI China Daily Summary: Thursday, July 18

MNI BRIEF: China To Upgrade Rural Land Reform: 3rd Plenum

MNI BRIEF: China's Third Plenum Eye's Deeper Financial Reform

CLARIFY: JAPAN JUNE SERVICES PRICES +1.7% Y/Y; MAY +1.6%

MNI JAPAN JUNE CORE CPI +2.6% Y/Y; MAY +2.5%

MNI: UK JUL GFK CONSUMER CONFIDENCE INDEX -13

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Air France Reports Q4 Operating Miss; Curve Widens By Up To 20bps

TRANSPORTATION


  • Despite in-line Q4 Rev of +4% YoY, Q4 EBITDA came in -24% YoY and -25% vs. consensus while the operating result was a EUR 56mn loss vs an expected EUR 140mn profit.
  • Management attributed the results to geopolitical disruption in MENA and increased unit costs (despite offset from lower fuel prices).
  • FY24 outlook; +5% capacity vs. +9.5% this year, unit costs +1-2% vs. +3.5% this year, CapEx EUR 3-3.2bn vs. EUR 3.55bn this year.
  • Leverage of 1.2x up slightly from 1.1x at Q3, Q4 FCF of negative EUR 1.2bn (FY outflow of EUR 400mn).
Credit BulletsBulletHomepagemarkets-real-timeCredit
Credit BulletsBulletHomepagemarkets-real-timeCredit

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.