Air China and China Eastern Set to See Stronger Pricing Trend in 2018
No-moat Air China and China Eastern Airlines are set to report full-year results later this month. Similar to China Southern Airlines, which painted an upbeat note in its 2018 outlook, we anticipate both companies will see an improving average ticket pricing trend amid robust tourism demand and constrained capacity growth initiatives. We retain our fair value estimate for Air China (HKD 7.70 per share) and China Eastern (HKD 4.25 per share) and will consider valuation rerating after factoring th...
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