Quote | Super Quote
Super Quote   |   Detail Quote   |   Interactive Chart   |   Real-Time Chart   |   Transaction   |   Related News   |   Related Securities   |   Company Information   |   Dividend Records   |   Short Sell
00293 CATHAY PAC AIR
RTNominal up5.480 +0.030 (+0.550%)
Others

03/07/2020 17:56

{I-bank focus}CS remains positive on China aviation sector

[ET Net News Agency, 3 July 2020] Credit Suisse said domestic recovery has been
temporarily disrupted by tightened controls affecting flights to Beijing from mid-June but
the trend has seen some sequential stabilisation.
In June, domestic flight capacity resumed to about 70% level (May 65%).
The research house noted that more international flights have resumed but the recovery
remains gradual. Capacity has slightly resumed to roughly about 5% of the normal level in
June (May 2%). Imported Covid cases remain the key risk and their recovery pace depends on
when the restrictions will be lifted.
Meanwhile, oil price has recovered on production cuts but still lower than last year.
With new oil price assumption and slow international traffic, Credit Suisse cut FY2020-21
earnings forecasts for the airlines/airports and also lowered their target prices by 2-10%
as follows:
Name Rating Target Price
------------------------------------------------------------------
Air China (00753) Outperform HK$6.5 from HK$7.2
China Eastern Airlines (00670) Outperform HK$3.6 from HK$4.0
China Southern Airlines (01055) Outperform HK$4.3 from HK$4.7
Cathay Pacific (00293) Underperform HK$7.0 from HK$7.1
Beijing Airport (00694) Outperform HK$6.4 from HK$6.6

(KL)

Remark: Real time quote last updated: 07/08/2020 17:58
  Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service
A Member of HKET Holdings
Customer Service Hotline:(852) 2880 7004     Customer Service Email:cs@etnet.com.hk
Copyright 2020 ET Net Limited. http://www.etnet.com.hk ET Net Limited, HKEx Information Services Limited, its Holding Companies and/or any Subsidiaries of such holding companies, and Third Party Information Providers endeavour to ensure the availability, completeness, timeliness, accuracy and reliability of the information provided but do not guarantee its availability, completeness, timeliness, accuracy or reliability and accept no liability (whether in tort or contract or otherwise) any loss or damage arising directly or indirectly from any inaccuracies, interruption, incompleteness, delay, omissions, or any decision made or action taken by you or any third party in reliance upon the information provided. The quotes, charts, commentaries and buy/sell ratings on this website should be used as references only with your own discretion. ET Net Limited is not soliciting any subscriber or site visitor to execute any trade. Any trades executed following the commentaries and buy/sell ratings on this website are taken at your own risk for your own account.