|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||9.83 - 10.39|
|52 Week Range||7.46 - 12.73|
|Beta (3Y Monthly)||0.77|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 18, 2020 - Feb 24, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||10.25|
Air France-KLM has dropped its plan to buy one-third of rival airline Virgin Atlantic but said this will not affect a proposed transatlantic partnership that also involves Delta Air Lines. It was part of a wider partnership deal with Delta to create a global joint venture to tap into the lucrative transatlantic market and compete against low-cost rivals.
(Bloomberg) -- The European Union is gearing up for the world’s most ambitious push against climate change with a radical overhaul of its economy.At a summit in Brussels next week, EU leaders will commit to cutting net greenhouse-gas emissions to zero by 2050, according to a draft of their joint statement for the Dec. 12-13 meeting. To meet this target, the EU will promise more green investment and adjust all of its policy making accordingly.“If our common goal is to be a climate-neutral continent in 2050, we have to act now,” Ursula von der Leyen, president of the European Commission, told a United Nations climate conference on Monday. “It’s a generational transition we have to go through.”The commission, the EU’s regulatory arm, will have the job of drafting the rules that would transform the European economy once national leaders have signed off on the climate goals for 2050. The wording of the first draft summit communique, which may still change, reflects an initial set of ideas to be floated by the commission on the eve of the leaders’ gathering.The EU plan, set to be approved as the high-profile United Nations summit in Madrid winds up, would put the bloc ahead of other major emitters. Countries including China, India and Japan have yet to translate voluntary pledges under the 2015 Paris climate accord into binding national measures. U.S. President Donald Trump has said he’ll pull the U.S. out of the Paris agreement.In a pitch of her Green Deal to member states and the European Parliament on Dec. 11, von der Leyen is set to promise a set of measures to reach the net-zero emissions target, affecting sectors from agriculture to energy production. It will include a thorough analysis on how to toughen the current 40% goal to reduce emissions by 2030 to 50% or even 55%, according to an EU document obtained by Bloomberg News.Make It IrreversibleIn the next step, the commission will propose an EU law in March that would “make the transition to climate neutrality irreversible,” von der Leyen told the UN meeting. She said the measure will include “a farm-to-fork strategy and a biodiversity strategy” and will extend the scope of emissions trading.The EU Emissions Trading System is the world’s largest cap-and-trade market for greenhouse gases. It imposes pollution caps on around 12,000 facilities in sectors from refining to cement production, including Royal Dutch Shell Plc and BASF SE. Von der Leyen eyes the inclusion of road transport into the market and cutting the number of free emission permits for airlines.Some of the transportation industry’s biggest polluters have already stepped up efforts to reduce their environmental impact. In June, France’s Airbus SE, its U.S. rival Boeing Co. and other aviation companies pledged to reduce net CO2 emissions by half in 2050 compared with 2005 levels. EasyJet Plc, the U.K.-based discount airline, has promised to offset all of its carbon emissions by planting trees and supporting solar-energy projects, while Air France will take similar steps on its domestic routes.Germany’s Volkswagen AG, the world’s largest automaker, aims to become CO2 neutral by 2050, while Daimler AG plans to reach that target for its Mercedes-Benz luxury car lineup by 2039.To ensure that coal-reliant Poland doesn’t veto the climate goals next week, EU leaders will pledge an “enabling framework” that will include financial support, according to the document, dated Dec. 2. The commission has estimated that additional investment on energy and infrastructure of as much as 290 billion euros a year may be required after 2030 to meet the targets.The EU leaders will also debate the bloc’s next long-term budget next week. The current proposal would commit at least $300 billion in public funds for climate initiatives, or at least a quarter of the bloc’s entire budget for the period between 2021 and 2027.(Updates with details on draft sumit communique from fourth paragraph.)\--With assistance from Ania Nussbaum, Siddharth Philip and Christoph Rauwald.To contact the reporters on this story: Ewa Krukowska in Brussels at email@example.com;Nikos Chrysoloras in Brussels at firstname.lastname@example.orgTo contact the editors responsible for this story: Chad Thomas at email@example.com, Chris ReiterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- U.K. billionaire Richard Branson said he’s scrapping the planned sale of a stake in Virgin Atlantic Airways Ltd. in favor of retaining control and expanding the airline he founded.Branson has reached a deal to abandon a two-year-old plan to sell part of the airline to Air France-KLM Group and will hang on to the 31% stake, keeping a 51% holding overall, he said in a letter to staff posted on his personal blog Monday. The accord is “subject to contract,” he said.Air France-KLM had agreed to buy the stake for about 220 million pounds ($284 million) in 2017 as part of a three-way venture with Delta Air Lines Inc., which already owned 49% of Virgin Atlantic. The revenue and cost-sharing pact is unaffected by the decision to pull the sale and will be implemented “in the near future,” Virgin said separately.A final agreement with Air France-KLM should be reached in the next few weeks, people familiar with the negotiations told Bloomberg earlier. The Paris-based company declined to comment.Branson last month spoke in glowing terms of Virgin Atlantic’s recent progress, saying he was sad to be surrendering control of the 35-year-old company. He said at the time the step was necessary to safeguard the carrier’s future in an industry increasingly dominated by a handful of airline groups.Under Chief Executive Officer Shai Weiss, who took over in January, Virgin has resumed growth with the opening of routes to destinations including Tel Aviv and Mumbai. It has also ordered new Airbus SE A330neo aircraft and begun taking delivery of larger A350s, while purchasing regional specialist Flybe Group Plc to add vital feeder traffic.Branson said in his letter that he’ll also step up a campaign to secure enough operating slots at an expanded London Heathrow airport to establish Virgin Atlantic as a second U.K. flag-carrier to rival British Airways.La Tribune reported on Friday that Virgin no longer wanted to sell the stake to Air France-KLM.\--With assistance from Ania Nussbaum.To contact the reporter on this story: Christopher Jasper in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Anthony Palazzo at email@example.com, Tara PatelFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The U.S. Department of Transportation (DOT) has granted antitrust immunity to a trans-Atlantic joint venture that comprises Air France-KLM, Delta Air Lines Inc. (NYSE: DAL) and Virgin Atlantic while blocking financially struggling Alitalia from the pact. Cutting Alitalia from the joint venture is a further blow to the struggling Italian flag carrier as trans-Atlantic service is one of its few money-making services.
Airlines are confident of having sufficient supplies of biofuel-infused jet fuel to comply with a Norway requirement which takes effect next year, although they warn of additional costs. From January, jet fuel suppliers in Norway must blend 0.5% of biofuel in all their aviation fuel, a policy Oslo hopes will boost supply and demand and lead to lower CO2 emissions.
Declaration of number of voting rights Information relating to the total number of voting rights and shares as required by L.233-8 II of the code of commerce and article.
Airbus SE's Canadian-designed A220 narrowbody jet has the potential to be stretched to carry more passengers but the company has no current plans to do so, a top executive said on Tuesday. Air France KLM SA , which has a firm order for 60 A220 jets, has expressed interest in a larger variant of the plane. In a presentation to investors, Air France KLM last week posted a slide referring to a larger A220-500 plane.
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Air France-KLM Group has embarked on an ambitious five-year plan aimed at reinventing itself to regain a leadership position among European airlines. Air France-KLM is the fifth-largest global air cargo carrier, based on freight-ton kilometers, according to the International Air Transport Association. It has a 3.8% global market share and moves 1.1 million tons of cargo annually, generating about €2.3 billion ($2.5 billion) in revenue.
PARIS/HELSINKI (Reuters) - Air France-KLM outlined plans to expand its budget Transavia business and push the core French carrier upmarket, while overhauling its fleet in pursuit of improved sales and profitability. After a wave of Air France strikes that cost 335 million euros ($373 million) in 2018, the Franco-Dutch airline group has stabilized under Chief Executive Ben Smith thanks to union deals that have increased both wage costs and operating flexibility. In his first major strategy presentation since he joined from Air Canada last year, Smith set a 7-8% profit margin goal for 2024 and dangled the "prospect" of renewed dividends - last paid out to shareholders in 2008.
Air France KLM is lobbying authorities in France as it pushes to try and make the market more competitive, the group's top boss said on Tuesday, adding that tax bills and the cost of operating out of airports there was higher than elsewhere. "Operating an airline in France is not easy," Air France KLM Chief Executive Ben Smith told an investor presentation. French carrier Air France was changing its airplane fleet and had reached agreements with pilots that were helping its turnaround, Smith said.
Roissy, 5th November 2019 Air France-KLM presents its go forward plan to recapture a leadership position in Europe Today, in Paris, Air France-KLM is organizing.
31 October 2019 RESULTS AS AT 30 SEPTEMBER 2019Resilient operating result at 900 million euros in a challenging macro-economic context THIRD QUARTER 2019 Passenger growth up.
Airline heavyweights Air France-KLM and British Airways owner IAG revealed disappointing third quarter earnings Thursday (October 31). Shares in Air France-KLM fell almost 12% before partially recovering as the airline group posted lower-than-expected earnings. Operating profits fell 16% to 900 million euros - or around $1 billion - in Q3. Analysts had expected 951 million in profits. Air France-KLM said trade tensions and other geopolitical problems hurt demand and fares. The firm also projects slower travel demand will impact ticket sales for the rest of 2019. British Airways owner IAG said earnings took a hit from industrial action by pilots at the airline. The group said September's strikes - along with other disruption - hit operating profit by $173 million in the third quarter. BA pilots were on strike for 48 hours in September in a dispute over pay. The pilot walkout - the first in the airline's history - grounded 1700 flights. IAG also saw disruption at other airports. Strikes by ground staff at its Iberia airline - which also serve its Vueling brand - have disrupted flights to Barcelona.