Major Banks Rating | JPMorgan: Lowers earnings forecasts for European airlines, optimistic about flagship airlines, maintains “Overweight” rating for Ryanair

Glonghui April 15 | JPMorgan has lowered its average earnings expectations for European airlines this fiscal year by 23%, noting that the ongoing Middle East conflict has led to a significant rise in jet fuel prices. As earnings season approaches, the bank favors flagship carriers over low-cost airlines. JPMorgan maintains an “overweight” rating on Ryanair, citing its strong defensiveness in any economic downturn or ongoing uncertainty, thanks to its hedging strategies, cost structure, and balance sheet. Additionally, the bank maintains an “underweight” rating on EasyJet, and a “neutral” rating on Lufthansa, Wizz Air, and Jet2.