Air France-KLM Stock Lagging Behind SBF 120, Only Decliner

Lagging Behind the SBF 120, Stock Erases Part of Tuesday's Rebound

Air France-KLM is down 3.34% to €11.71 in trading, against a CAC 40 nearly flat (+0.06%) and an SBF 120 stable (+0.05%). This decline makes the stock the SBF 120 index's worst performer, far ahead of the second-largest decline of the session. The fall comes after the 5.5% gain recorded Tuesday, which had placed the stock among the SBF 120's biggest gainers.

Over the week, performance remains positive at nearly 4%, and over one month the balance is slightly positive (+1.78%), but the quarter remains in negative territory at -5.87%. The VIX at 14.15 (-4.84% compared to the previous day) reflects a calm market, which makes the stock's decline all the more noticeable.

In Contact with the 20-Day MA and Clearly Below the 50-Day MA, Contrasting Technical Setup

At €11.71, the price is nearly back to its twenty-day moving average (€11.65), representing a gap of just 0.47%. This return to the 20-day MA ends the brief acceleration window opened during Tuesday's session. The 50-day MA, at €11.95, remains 2.05% above the current price and constitutes the next moving average resistance to overcome to regain stronger momentum. On the downside, the support at €11.26 coincides with the 200-day MA (€11.26), a zone that had served as a floor during previous periods of tension.

The RSI at 57 remains in neutral territory, showing no oversold signal despite the magnitude of today's decline. On the fundamental front, when the group published its first half 2026 results on July 30, it adopted a cautious tone, mentioning a particularly volatile environment and a revision of its capacity outlook for 2026. According to the consensus of surveyed analysts, the stock is trading at approximately 3.4 times expected earnings for the current fiscal year, a level that reflects the uncertainties still weighing on the group's profitability.