1021 GMT - Air France-KLM's third-quarter result shows that the company's unit cost trend is worsening, Stifel's Johannes Braun writes. The company reported EBIT of 1.18 billion euros, missing company-provided consensus of 1.25 billion euros. Cost growth excluding fuel of 3.4% came in better than the 4% Stifel had anticipated for the quarter. However, an improvement in the fourth quarter is now no longer expected, the analyst says. The Franco-Dutch carrier raised its 2024 unit cost growth outlook to around 3% from 2% previously, implying 3% on year growth in costs for the fourth quarter as well, Braun says. Shares trade 11% down to 7.89 euros. (pierre.bertrand@wsj.com)
(END) Dow Jones Newswires
November 07, 2024 05:21 ET (10:21 GMT)
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