Europe’s Cheap Airline Stocks Fail to Get a Peak Season Boost
- Air France-KLM, Norwegian Air see hits to summer profits
- Basket of airline stocks has underperformed European benchmark
Passenger aircraft at Schiphol Airport in Amsterdam.
Photographer: Ksenia Kuleshova/BloombergThe high season for summer travel has been abysmal for European airline shares so far.
Air France-KLM and Norwegian Air Shuttle ASA both gave investors warnings this week about business conditions ahead that suggest the industry will continue to face tough times. Strikes, high costs and issues with aircraft deliveries have also plagued Europe’s carriers.