Industry analysis at Bloomberg Intelligence (BI) has indicated that scope for earnings per share upgrades may be more limited in 2024 among European airlines; tempering strong post-pandemic recovery in 2023 with key issues of cost inflation, demand normalisation and consolidation. With increased costs across operations (including wage inflation, maintenance and the price of jet fuel) harder to recoup from a drop in ‘pent-up demand’, the slow return of corporate travel is also unable to provide much of an offset, notes BI. However, “European airline consolidation progress in 2024 may pave the way to offsetting some margin threats,” adds BI industry

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