A quick round-up of European airline results for 2024
All the 2024 results are now in the for the big European airlines. Who were the winners and who were the losers?
Stonking full year results from IAG
Full year results from IAG set new records and reconfirmed the company as one of the top industry performers from the perspective of profitability. I took a quick look to see what the results showed.
The growing cost of airline emissions in Europe
Whilst jet fuel prices have been falling recently, European airlines face growing emissions charges as free allowances are phased out. Which airlines will be most affected? And what are the longer-term implications of growing emissions costs?
Catching up on Q3 results from European airlines
After a record breaking profit year in 2023 for many of Europe's big airlines, opinions were divided about whether they could repeat the trick in 2024. With Q3 results now mostly published, how are things looking?
What does Ryanair's recent profit slump tell us about the state of the aviation market in Europe?
When Ryanair reported poor June quarter results, it blamed a weak pricing environment, causing European airline shares to take a hit. However, subsequent results from competitors seem to tell a different story.
IAG’s full year results for 2023
IAG has just announced its full year results for 2023. Both the €3.5 billion operating profit and the €3.1 billion pre-tax profit were all-time records. How did the figures compare to what I'd been expecting?
Comparing the balance sheets of IAG and Air France - KLM
Both IAG and AF-KLM are focusing on improving their balance sheets, after the ravages of COVID. Which company has the most work to do?
More record profits at IAG in Q3
Q3 pre-tax profits at IAG of €1.7 billion set a new record for a single quarter. But the company’s share price remains mired in the doldrums. What is going on?
European consolidation nears the end game
With European airlines making record profits, the big players are back on the acquisition trail. How close are we to the end of consolidation process in Europe? And which airlines are still in play?
Record second quarter results at IAG
IAG posted a record-breaking set of results for Q2, confirming the strength of the profit recovery on the back of very strong unit revenues. What do the results imply about the outlook for the full year?
A roundup of post-pandemic European airline results
The year to March 2023 is the first relatively "clean" twelve month period since the pandemic. Now that we have the numbers from all the big players, what do they tell us about who has emerged as the biggest, and who is doing the best?
March quarter results from Ryanair and EasyJet
Results from Ryanair today and EasyJet last week rounded out the figures for Europe's biggest airline companies. As the first clear twelve month period "post pandemic", what did they reveal about the state of play in Europe's airline industry?
IAG surprises the market (and itself) with positive Q1 results
IAG beat their own guidance for first quarter 2023 operating profits by more than €200m. Whilst the shares edged higher in response, market reaction was muted as management seems strangely reluctant to talk positively about the outlook for the full year.
IAG full year results
IAG reported its first full year profit for three years last week, with operating profits of €1.2 billion and a pre-tax profit of €415m. How did the results compare to European peers? Which airlines within the group did best? And what other interesting nuggets of information were buried in the small print?
How comparable are aircraft ownership and maintenance costs across airlines?
We often see big differences in aircraft ownership and maintenance costs between airlines. How much of this is driven by different accounting policies and by choices about how to finance the aircraft?
European airline groups back to profit in Q3
The big three European network airlines groups reported their first solid profits for three years in the third quarter. Which of their airline brands are doing the best?
Normalising Q2 results for fuel and emissions hedging
Fuel hedging policies had a dramatic impact on Q2 airline results in Europe. Which airlines delivered the best results? And how much of that was down to hedging policies?
European airline winners and losers from the pandemic
As the fog starts to clear on the airline recovery, which airlines are emerging from the pandemic as winners and how well did market analysts do early on in predicting who that would be?
War in Europe
Shocking news from Ukraine today. Understandably, airline share prices fell heavily. What are the practical implications for airline management teams?
A not quite end of year review
As we approach the end of what has been another eventful year for the aviation industry, I reflect on how things have turned out compared to my expectations at the end of 2020.