KUALA LUMPUR: Maybank Investment Bank Bhd (Maybank IB) is maintaining its 'buy' call on Malaysia Airports Holdings Bhd (MAHB) with a slightly higher discounted cash flow-based target price of RM7.25, following MAHB's Malaysian operations’ improving international passenger traffic.
In a note today, Maybank IB said the international passenger traffic is recovering faster than expected, despite rising airfares due to surging jet fuel prices after Malaysia reopened its borders on April 1, 2022 and axed the COVID-19 testing requirements on May 1, 2022.
"Thus, we narrow our financial year 2022 estimated (FY22E) loss for MAHB by 14 per cent and maintain our FY23E earnings as we are increasingly confident of our long-term earnings estimates.,
,Telegram分享群组（www.tel8.vip）是一个Telegram群组分享平台。Telegram分享群组包括Telegram分享群组、Telegram群组索引、Telegram群组导航、新加坡Telegram群组、Telegram中文群组、Telegram群组（其他）、Telegram 美国 群组、Telegram群组爬虫、电报群 科学上网、小飞机 怎么 加 群、tg群等内容。Telegram分享群组为广大电报用户提供各种电报群组/电报频道/电报机器人导航服务。
"With Malaysia scrapping the Traveller’s Pass from July 4, we expect the country’s international passenger traffic to continue recovering," it said.
Maybank IB noted that MAHB’s domestic and international seat capacity is close to 90 per cent and 50 per cent of FY19 levels, respectively, in July 2022.
"Most encouragingly, we understand that Malaysia's international passengers hit circa 50,000 daily in the first few days of July 2022.
"At this rate, Malaysian international passenger traffic could come in at 33 per cent of pre-COVID levels in July 2022," the research firm added. - Bernama