Singapore Airlines' Scoot subsidiary stands to benefit from Jetstar Asia's closure at end-July, Phillip Securities Research's Liu Miaomiao says in a note.
Scoot plans to launch new services to Japan's Okinawa and Indonesia's Labuan Bajo, destinations previously served exclusively by Jetstar Asia, the analyst notes.
Also, Scoot intends to increase flight frequencies to several existing routes from August, including 28 weekly flights to Malaysia's Penang, 39 to Thailand's Bangkok, and seven to Philippines' Clark.
Jetstar Asia's exit is poised to be net positive for Scoot as traffic will be redirected.
The brokerage has a reduce rating and target price of S$6.08 on SIA shares, which are 0.15% higher at S$6.88.
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