5 European airlines upgraded at Barclays on lower fuel prices

Investing.com · Vahid Karaahmetovic · 2026-11-06 12:22 UTC

5 European airlines upgraded at Barclays on lower fuel prices

Investing.com -- Barclays upgraded five European airlines, citing a drop in spot and forward fuel prices since the U.S. midterm elections that it said suggests the market sees a higher probability of easing tensions in the Middle East.

Analysts led by Andrew Lobbenberg double-upgraded Air France-KLM to Overweight from Underweight and raised Ryanair and Norwegian Air Shuttle to Overweight from Equal Weight. They also lifted Lufthansa and Finnair to Equal Weight from Underweight.

"The outlook for airlines today is, in our view, brighter than it was at the start of the week," the analysts wrote. They stressed that their models are based on the current fuel forward curve and do not assume the reopening of the Strait of Hormuz, so the benefits could unwind if geopolitical developments reverse.

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