Air France and Norwegian expect very weak business

Air France and Norwegian expect very weak business
Air France and Norwegian expect very weak business

Until now, since the end of the pandemic, all airlines had been doing well, with extraordinary financial results that always exceeded expectations. But that climate seems to be coming to an end after the Air France KLM group and Norwegian announced problems in meeting their objectives this summer (Air France, with low demand due to the Olympic Games).

European stock markets are already seeing airline companies lose value as investors are looking at a future that is no longer clear. Since last November, airline stocks have fallen by 13 percent.

This week, Air France KLM said summer revenues would fall by almost €200m as people are unusually reluctant to fly to Paris for the Olympics. Norwegian has cut its profit forecast, sending its stock price down 16 per cent.

The business world is now anxiously awaiting Ryanair’s results on the 22nd of this month, followed by Easyjet. Always explicit, Michael O’Leary told the media that ticket prices are stopping rising and that demand is beginning to stabilise after two years of strong growth.

 
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