SATS: Air France becomes the latest airline to boost capacity into SG's Changi Airport. Air France is ramping up capacity on its Paris-Spore service by 30% from 2Q12 with 3 additional flights a wk.
Air France is just the latest in a string of global carriers boosting capacity to SG. Lufthansa recently introduced its larger Airbus A380 between SG-Germany, as well as an all-cargo freighter service, while Dubai-based Emirates raised its Spore-Dubai capacity by 25% with five additional wkly flights.
We note that SATS who has a 80% mkt share at SG's Changi Airport, could benefit from the increased flight frequencies. Street currently has a mix of Buy and Hold Calls on counter, with a mean TP of $2.46. Counter currently trades at 13x current P/E vs historical average of 14x.
No comments:
Post a Comment