By Pierre Bertrand
Air France-KLM shares soared in early European trading after the carrier group posted earnings that exceeded market views and flagged further improvement this year.
The Franco-Dutch company's shares traded 17% higher to 10.73 euros.
It reported 396 million euros ($427.3 million) in operating profit for the last quarter of 2024, beating analysts' expectation of 160 million euros. A year earlier, it reported a 56 million-euro loss.
The improved profit was driven by strong passenger and cargo pricing, Morgan Stanley analysts said in a research note.
The company also added on Thursday that it expected an at least 300 million-euro improvement to earnings before interest and taxes this year.
That guidance implies 1.90 billion in EBIT, ahead of consensus at 1.69 billion euros, Morgan Stanley said.
JPMorgan analyst Harry J Gowers said consensus estimates could move up by at least 7% on the back of the guidance. He added the company's outlook for the year was very positive.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
March 06, 2025 04:19 ET (09:19 GMT)
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