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OSK Research maintains Overweight on aviation
by hlk Wed 10 Aug 2011, 11:39
KUALA LUMPUR: OSK Research rates all its aviation counters as BUYs with AirAsia as its top pick (FV: RM4.34) and MAS as a trading BUY (FV: RM2.45).
“We reaffirm our overweight stance on the Malaysian aviation play,” it said on Wednesday, Aug 10.
On Tuesday, AirAsia and MAS announced a comprehensive collaboration framework and shares swap agreement (including the issuance of warrants) between its respective major shareholders; Tune Air and Khazanah.
The shares swap and warrants issuance facilitates in aligning the interest of both the majority and common shareholders for the collaboration between the two carriers.
“While synergistic benefits could be seen over the longer term on the collaboration framework; AirAsia and its feeder traffic, long haul sister carrier, AirAsia X are seen as winners of this collaboration over the immediate term.
“The low cost carrier (LCC) benefits on immediate route accessibility, yield upside, and its dominance as Malaysia’s only LCC (as Firefly phases out of the LCC segment),” it said.
“We reaffirm our overweight stance on the Malaysian aviation play,” it said on Wednesday, Aug 10.
On Tuesday, AirAsia and MAS announced a comprehensive collaboration framework and shares swap agreement (including the issuance of warrants) between its respective major shareholders; Tune Air and Khazanah.
The shares swap and warrants issuance facilitates in aligning the interest of both the majority and common shareholders for the collaboration between the two carriers.
“While synergistic benefits could be seen over the longer term on the collaboration framework; AirAsia and its feeder traffic, long haul sister carrier, AirAsia X are seen as winners of this collaboration over the immediate term.
“The low cost carrier (LCC) benefits on immediate route accessibility, yield upside, and its dominance as Malaysia’s only LCC (as Firefly phases out of the LCC segment),” it said.
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