瑞银:料国泰航空(00293)中期基本盈利同比升35% 维持“买入”评级

智通财经
22 Jul

智通财经APP获悉,瑞银发布研报称,国泰航空(00293)今年6月份客运表现两极分化,全服务航空(FSC)收益乘客千米数(RPK)同比增长29%,超越可用座位千米数(ASK)26%的增幅,带动载客率提升2.1个百分点,主要受英国及美国留学生返港,以及部分日本客源转向东南亚及中国内地所带动。瑞银认为香港快运短期疲弱不会对中期业绩带来影响,维持国泰上半年基本盈利同比增长35%的预测,并预期日本航线需求将随7月地震传言忧虑消退逐步复苏,维持“买入”评级,目标价12.9港元。

报告指出,管理层预期夏季长途航线需求稳健,然而旗下香港快运(HK Express)受日本航线需求急跌拖累,载客率大幅下滑15.7个百分点,日本航线占其6月ASK达55%。 货运方面,受美国加征关税前的提前出货带动,6月货运量同比增长3%,东南亚及中国台湾往美洲的电子产品及一般货物更录得显著增幅。

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