SATS: the stock ran in the final hour of yday’s trading, following our 4.01pm post that the market may not have priced in the potential for a substantial div payout for FYMar12. Recall UOBK estimates a special div of 17cts + final div of 8cts, which implies a net yield of 9.5% based on the last close at $2.64.
Separately, Air India SATS Airport Services (AISATS) has been appointed by Thai Airways in Hyderabad to provide ground handling services for its cargo freighter aircraft.
AISATS is a JV between Air India and SATS.
Thai Air plans to introduce its first Boeing 747- 400 retrofitted cargo freighter aircraft. The aircraft, designed to carry 100 tonnes per flight to and from Asia, Europe and Australia, will operate to nine cities - Taipei, Tokyo, Hyderabad, Chennai, Delhi, Frankfurt, Amsterdam, Sydney and Bangkok.
The first stop of the Thai cargo aircraft is at the Hyderabad Int’l Airport on Apr 12, where AISATS will manage the entire ramp operations for the freighter.
AISATS began its Hyderabad operations in Mar 2008 serving Air India and other int’l airlines. AISATS, with a staff strength of around 900, has in the past year handled over 9,000 flights out of Hyderabad.
SATS stock trades at 17x P/E, 2x P/B.
No comments:
Post a Comment