Added to YB: 2026-06-11
Pitch date: 2026-06-09
AF.PA [neutral]
Air France-KLM SA
Author Info
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Company Info
Air France-KLM SA, together with its subsidiaries, provides passenger and cargo transportation services.
Market Cap
EUR 2.9B
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
2.83
P/E
2.02
EV/Sales
0.46
Sector
Passenger Airlines
Category
value
Air France-KLM (AF France): EasyJet may be available, but that does not mean Air France should buy it
AF.PA (update): Confirmed potential easyJet involvement w/ Castlelake, but CEO comments look defensive. EasyJet slots (Orly/Schiphol/Gatwick) attractive yet deal too complex—regulatory overlap, break-up risk, minority stake = capital w/o control. Group focused on SAS/TAP instead. Trades ~3x EBITDA; debt drives discount. Demand healthy via CDG/AMS; thesis is earnings/leverage/execution, not M&A.
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