Air France Could Consider Being Part of EasyJet Bid, CEO Says
Speakers
Ben Smith
— CEO of Air France-KLM
Summary
Air France-KLM CEO Benjamin Smith discusses the cautious reopening of routes to the Middle East, fuel cost management, and strong travel demand. He also comments on EasyJet as an attractive acquisition target due to its undervalued slot portfolio.
- Air France-KLM has cautiously resumed flights to Riyadh but still keeps Dubai, Tel Aviv, and Beirut closed.
- The airline has secured fuel through August but warns that further price spikes would force ticket price increases and capacity cuts.
- Smith notes strong demand, especially in premium cabins, though customers are booking closer to departure.
- He describes EasyJet's slot portfolio at Gatwick, Geneva, and Orly as impressive and its market cap as low.
- Smith confirms Air France-KLM is not involved in the current EasyJet bid but would consider a call if approached.
- The CEO expects Gulf carriers to return with full capacity and potentially trigger a price war.
Ideas
EasyJet slots undervalued, market cap low.
EasyJet's slot portfolio at key airports like London Gatwick, Geneva, and Orly is impressive and undervalued relative to its market cap, making it an attractive acquisition target. The current market price does not reflect the value of these slots and the airline's strategic positions.
Up Next
This Bloomberg Markets video, published June 08, 2026, features Ben Smith discussing EZJ.L. 1 trade idea extracted by AI with direction and confidence scoring.