Frankfurt Lufthansa CEO Carsten Spohr doubles profit target for the current year, Ryanair boss Michael O’Leary reports continued good demand and Easyjet boss Johan Lundgren believes travel will remain a high priority for consumers. But the good news does not seem to arrive on the trading floor: Whether Lufthansa, IAG, Air France-KLM, Ryanair or Easyjet – all papers are listed below their highs for the year, sometimes significantly.
Investors are not following the currently optimistic airline managers and remain skeptical. Bernstein Research’s Alex Irving advises investors not to look at the industry with trepidation. When consumers get their high energy bills in winter, the desire to travel can quickly vanish. Airline managers or analysts – who is right?
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