PublicInvest maintains neutral on AirAsia, AirAsia X
27 Jan 2017 06:59:09
thestar.com.my
PublicInvest Research has maintained its “neutral” call on AirAsia X Bhd (AAX) with a target price of 41.5 sen and expects a better financial results from the carrier.
“We expect the results to be slightly better than our estimates and on track for a turnaround.
“Nevertheless, we remain cautious on the impact of a stronger US dollar on its operating cost (i.e. aircraft maintenance and fuel costs), while capacity expansion is likely to slow down going forward,” PublicInvest said in a report.
The research house said AAX’s 4QFY16 operating statistics exceeded its expectations, with a strong double digit growth recorded in traffic volume (40.4%) and seats capacity (42.9%).
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