The stockmarket welcomed the group’s supportive Q2 results, which returned to positive for the first time since the pandemic. An unchanged FY22 capacity schedule, despite airport chaos and a clear FY22 financial outlook (roughly in line) demonstrated its solid operational management and confidence in making the group great again. The hiring plans look aspiring but the risks of further strikes and/or heavier labour costs remain. We expect an upgrade in the consensus and our estimates.
04 Aug 2022
Crystallising mid-term achievements
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Crystallising mid-term achievements
The stockmarket welcomed the group’s supportive Q2 results, which returned to positive for the first time since the pandemic. An unchanged FY22 capacity schedule, despite airport chaos and a clear FY22 financial outlook (roughly in line) demonstrated its solid operational management and confidence in making the group great again. The hiring plans look aspiring but the risks of further strikes and/or heavier labour costs remain. We expect an upgrade in the consensus and our estimates.