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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Air France-KLM    AF   FR0000031122

AIR FRANCE-KLM

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Asian airlines could lose $27.8 billion revenue from coronavirus - IATA

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02/20/2020 | 08:55pm EDT
FILE PHOTO:  Passengers wear protective masks as they wait at Hong Kong International Airport, following the coronavirus outbreak in Hong Kong

Airlines in the Asia-Pacific region stand to lose $27.8 billion (£21.6 billion) of revenue this year as they slash flights due to declining demand as a result of the coronavirus, according to a preliminary estimate from an industry body.

The bulk of the losses will be borne by Chinese carriers, including a $12.8 billion hit to the Chinese domestic market alone, the International Air Transport Association (IATA) said in a forecast released in New York on Thursday.

Chinese airlines have cut 80% of their planned capacity to, from and within China this week, according to flight data firm OAG, as they grapple with a sharp fall in demand due to the virus that has killed more than 2,100 people in China.

Asian hub carriers Cathay Pacific Airways Ltd and Singapore Airlines Ltd have cut capacity across their global networks as they look to manage the crisis.

Overall, IATA expects passenger traffic in the Asia-Pacific region to fall by 8.2% this year, compared to an earlier estimate of a 4.8% rise.

"Airlines are making difficult decisions to cut capacity and in some cases routes," IATA Director General Alexandre de Juniac said in a statement. "Lower fuel costs will help offset some of the lost revenue. This will be a very tough year for airlines."

Carriers outside Asia are expected to lose $1.5 billion of revenue due to the virus, IATA said, adding it was too early to quantify the impact on earnings.

Air France KLM SA warned on Thursday of a 150 million to 200 million euro ($162 million to $216 million) hit to earnings by April as it contends with the coronavirus epidemic's "brutal" impact on the airline industry.

(Reporting by Jamie Freed; Editing by Daniel Wallis)

By Jamie Freed

Stocks mentioned in the article
ChangeLast1st jan.
AIR FRANCE-KLM 3.91% 5.32 Real-time Quote.-48.43%
CATHAY PACIFIC AIRWAYS LIMITED -0.12% 8.19 End-of-day quote.-0.12%
SINGAPORE AIRLINES LIMITED -2.65% 5.5 End-of-day quote.-2.14%
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Financials (EUR)
Sales 2020 20 855 M
EBIT 2020 -890 M
Net income 2020 -649 M
Debt 2020 8 053 M
Yield 2020 0,12%
P/E ratio 2020 -2,65x
P/E ratio 2021 3,69x
EV / Sales2020 0,49x
EV / Sales2021 0,38x
Capitalization 2 125 M
Chart AIR FRANCE-KLM
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Air France-KLM Technical Analysis Chart | AF | FR0000031122 | MarketScreener
Technical analysis trends AIR FRANCE-KLM
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 20
Average target price 6,82  €
Last Close Price 4,97  €
Spread / Highest target 165%
Spread / Average Target 37,1%
Spread / Lowest Target -79,9%
EPS Revisions
Managers
NameTitle
Benjamin M. Smith Chief Executive Officer & Director
Anne-Marie Couderc Non-Executive Chairman
Frédéric Gagey Chief Financial Officer
Jean-Christophe Lalanne Executive Vice President-Information Technology
Maryse Aulagnon Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
AIR FRANCE-KLM-48.43%2 395
DELTA AIR LINES, INC.-61.83%18 188
AIR CHINA LIMITED-1.02%12 101
RYANAIR HOLDINGS PLC-33.38%10 956
ANA HOLDINGS INC.-2.36%10 478
CHINA EASTERN AIRLINES CORPORATION LIMITED-0.72%8 303