Premier Inn owner Whitbread bows to jobs reality, and Suez’s payout promises wash over shareholders. Plus: Indonesia’s Garuda flies closer to the wire. Catch up with the latest pandemic-related financial insights from Breakingviews here:
Suez boss Bertrand Camus’ munificence relies on cost cuts and sales growth to achieve 1.7 billion euros of operating profit by 2022 on revenue of 17 billion euros. That implies a meaty 220 basis point expansion in annual margins. So far, the bullishness is failing to sway investorsIndonesia’s Garuda is flying low but reckons bankruptcy is off the table. The flag carrier has weighed up insolvency proceedings but will instead seek better terms on its aircraft loans,to Bloomberg.
The carrier’s shares have fallen 55% so far this year, slightly worse than Thai Airways, which secured court approval this month for a restructuring. Like its Asian rivals, Garuda is counting on a speedy revival in domestic tourism as tough restrictions on international arrivals remain in place. With the virus raging across Indonesia, however, it’s going to be a long and bumpy ride. Signage for Premier Inn is seen on the outside of one of their hotels in London, Britain, March 30, 2016.
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