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Maybank IB Research remains Neutral on Malaysian aviation sector

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Maybank IB Research remains Neutral on Malaysian aviation sector Empty Maybank IB Research remains Neutral on Malaysian aviation sector

Post by Cals Thu 03 Oct 2013, 10:12

Maybank IB Research remains Neutral on Malaysian aviation sector
Business & Markets 2013
Written by theedgemalaysia.com   
Thursday, 03 October 2013 09:54
KUALA LUMPUR (Oct 3): Maybank IB Research has maintained its Neutral rating on the Malaysian aviation sector and said the country’s aviation sector's average return of -5.4% year-to-date had underperformed KLCI's return of +5.7%, due to depressed earnings, surging fuel prices and heightened competitive pressures.
In a note Thursday, the research house said the underlying demand remains positive, as seen by the healthy traffic growth of 15.5% year-on-year in 8M13 but this was spurred by lower average fare.
“The yield outlook remains weak and the fuel price is on an uptrend.
“We however maintain our Neutral stance on the sector as we feel the valuations aptly manifest the current market situation,” it said.
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