Ryanair - Pricing Appears to Be Softening; Re-Setting Profitability Expectations

Ryanair – FY25 Weakness Suggests a “normalization” and Prompts Structural Industry Questions

European Airlines – Moving Parts Within Group Performances Illustrate Structural Requirements

Lufthansa – Portfolio Carrier Catch up Requirements Analysed

Lufthansa - ITA Airways Financial Sustainability Questions Without Lufthansa Partnership/Steering

European Airlines - Fare Softening Suggests Elevated Earnings Risk with Self-Help Stories Crucial

European Airlines – The Ravages of Increased Earnings Seasonality

Founder & Managing Director, AIR Control Tower, AIR Control Tower

Neil Glynn

Founder & Managing Director, AIR Control Tower

AIR Control Tower

AIR Control Tower is an independent research and analysis platform. Its mission is to provide impactful insight and analysis across the global airline industry at a company and market level via detailed financial models to aid decision making for key stake holders at a time when risks have seldom, if ever, been higher and the global sector grapples with the imperative of funding de-carbonisation. Unique analysis forecasting global carrier-level earnings/cash flows, and restructuring/de-leveraging prospects, is designed to dynamically assess the health of the industry, predict surprises and identify potential requirements for third party support.

Insights on the global airline industry

Equity Bottom-Up

<ul>
<li>Lufthansa mainline losses in 2024 force management to pursue transformation</li>
<li>​Portfolio management challenges driven by a variety of factors including LH mainline unit costs and pricing at sister companies</li>
<li>Much work to do to turn ITA around, while firm management focus is required at home</li>
</ul>


Lufthansa mainline losses in 2024 force management to pursue transformation
​Portfolio management challenges driven by a variety of factors including LH mainline unit costs and pricing at sister companies
Much work to do to turn ITA around, while firm management focus is required at home


International Consolidated Airlines Group (IAG LN)

International Consolidated Airlines Group

Lufthansa Group – Revisiting Margin and Portfolio Management Challenges

Deutsche Lufthansa

Lufthansa Group – Revisiting Margin and Portfolio Management Challenges