Air France-KLM

The Portuguese government has received Parpublica’s evaluation of the binding bids from Air France-KLM and Lufthansa for a 44.9% stake in TAP and is examining it. After review it can pick a winner or launch a negotiation round seeking improved offers; the decision depends not only on price but also on the bidders’ plans to expand TAP’s international presence. Analysts value the stake at around €700m, with the airline’s main asset being slots at the Lisbon hub. The government aims to complete the privatization this year. » Mere på de.investing.com

The shares of Air France KLM climbed about 2.6% to €11.93 after Kepler Cheuvreux raised its rating from "Reduce" to "Hold." The analysts now see the stock as fairly valued following the decline linked to tensions in the Middle East and raised 2026 earnings estimates by roughly 20%, but left the price target at €11.50. Air France KLM had increased Q2 revenue by almost 10% to €9.3bn and beat consensus estimates for revenue and earnings; the upgrade further reduced selling pressure from analysts. » Mere på de.investing.com

Air France-KLM has reduced planned capacity growth for the year from up to four percent to at most three percent in response to sharply higher jet fuel costs and intensified competition. In the second quarter, group profit fell by three quarters year-on-year to €153 million, while revenue rose by about ten percent to roughly €9.3 billion. Fuel costs increased by nearly 50 percent to more than €2.4 billion; CEO Ben Smith lowered the annual jet fuel cost forecast to $8.9 billion, and the stock rose slightly. » Mere på finanzen.net