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<Research> UBS Maintains TP for Air China (00753.HK) at HKD3.3, Rating 'Sell'
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UBS published a research report stating that Air China (00753.HK) recorded a 3% year-on-year increase in revenue last year, with a net loss of RMB1.77 billion, including a net loss of RMB3.6 billion in the fourth quarter. The firm noted that due to the Iran conflict leading to rising oil prices, aviation fuel surcharges have been increasing in the short term, which may suppress passenger volume on domestic routes in China and reduce the willingness of Chinese travelers to travel abroad. However, it may also attract more overseas travelers to use Chinese airlines to travel to other regions in Asia. The firm stated that if oil prices decrease, coupled with ongoing government policy support, it expects airlines to continue to maintain year-on-year revenue growth, turning losses into profits this year and achieving year-on-year profit growth. The firm remains long-term optimistic about the aviation industry but maintains its target price at HKD3.3 and its rating as 'Sell'. (ca/w) Auto-translated by third-party software This translation was auto-generated by third-party software. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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