Summary Marketline's China Southern Airlines Company Limited Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by China Southern Airlines Company Limited - Mergers & Acquisitions (M&A), Partnerships & Alliances since January2007. Marketline's Company Mergers & Acquisitions (M&...
Summary Malaysia Airlines Berhad - Company Profile and SWOT Analysis, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Malaysia Airlines Berhad (Malaysia Airlines), formerly Malaysian Airline System Berhad, is the national carrier. It specializes in offering passenger transportation services daily to, from, and...
Summary China Airlines Ltd - Company Profile and SWOT Analysis, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights China Airlines Ltd (CAL) is a provider of air passenger and cargo transport services. It also provides mail and ground services, aircraft maintenance services, maintenance of flight equipment, commun...
Summary China Southern Airlines Co Ltd - Company Profile and SWOT Analysis, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights China Southern Airlines Co Ltd (China Southern Airlines) is a provider of air passenger and cargo transportation services. The company operates both passenger and cargo flights, directly ...
The three Chinese airlines’ 1Q23 results were in line with our expectations. Net losses narrowed meaningfully yoy driven by the air travel recovery and upbeat yields, keeping us hopeful that their profitability would catch up in the rest of 2023 to meet our upbeat 2023 profit projections. Despite the strong market sentiments, we think the recovery is likely to have been largely priced in. Maintain UNDERWEIGHT on the sector with Air China (753 HK, BUY, Target: HK$7.59) being our preferred pick.
Summary Marketline's China Airlines Ltd. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by China Airlines Ltd. - Mergers & Acquisitions (M&A), Partnerships & Alliances since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investm...
China’s cancellation of Zero-COVID policies and reopening to international travellers in Jan 23 kick-started the aviation sector’s recovery. While positive news flow about the sector’s recovery may keep market sentiments upbeat in the near to medium term, we think that the recovery is likely to have been largely priced in. We re-initiate coverage on China’s aviation sector with UNDERWEIGHT. Air China (753 HK, BUY, Target: HK$7.97) is our preferred pick on a relative basis.
China’s cancellation of Zero-Covid policies and reopening to international travellers in Jan 23 kick-started its aviation sector’s recovery. While the positive news flow about the sector recovery may keep market sentiments upbeat in the near to medium term, we think the recovery is likely to have been largely priced in. We re-initiate coverage on China’s aviation sector with UNDERWEIGHT. Air China (753 HK, BUY, Target: HK$7.97) is our preferred pick on a relative basis. Pandemic is behind us,...
The general evaluation of CHINA EASTERN AIRLIN (CN), a company active in the Airlines industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as defensive. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Positive. As of the analysis date December 31, 2021, the closing price was CNY 5.16 and it...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
GREATER CHINA Results Bank of Ningbo (002142 CH/HOLD/Rmb26.82/Target: Rmb24.80): 3Q19: Results beat market expectations, capital raised for future growth. China Construction Bank (939 HK/BUY/HK$6.23/Target: HK$7.23): 3Q19: Results in line. Stable growth underpinned by solid asset quality. China Eastern Airlines (670 HK/HOLD/HK$3.96/Target: HK$4.00): 3Q19: 9.8% yoy rise in net profit aided by state cost-cutting measures and higher grants. China Merchants Bank Co (3968 HK/BUY/HK$37.60/Target: HK$4...
In terms of revenue and passenger-carrying capacity, China Eastern is ranked as the third-largest airline in the fast-growing, increasingly competitive Chinese airline market. Domestic competition is still on the rise, but the international markets are poised to become the company’s main revenue growth driver. We expect China Eastern’s net income and revenue to grow at 27% and 6% per year, respectively, between 2018 and 2022. The positive net income growth catalysts include favorable jet-fue...
No-moat China Eastern reported solid first-quarter results and provided some guidance for the remainder of 2019. The carrier’s first-quarter earnings featured higher operating margin, up 150 basis points year over year, driven primarily by strong cost management efforts. We have revisited our assumptions after incorporating management’s more optimistic near-term guidance and the probability-weighted impact from the ongoing conflict between China and the U.S. After changes to our forecasts, w...
No-moat China Eastern reported solid first-quarter results and provided some guidance for the remainder of 2019. The carrier’s first-quarter earnings featured higher operating margin, up 150 basis points year over year, driven primarily by strong cost management efforts. We have revisited our assumptions after incorporating management’s more optimistic near-term guidance and the probability-weighted impact from the ongoing conflict between China and the U.S. After changes to our forecasts, w...
No-moat China Eastern reported solid first-quarter results and provided some guidance for the remainder of 2019. The carrier’s first-quarter earnings featured higher operating margin, up 150 basis points year over year, driven primarily by strong cost management efforts. We have revisited our assumptions after incorporating management’s more optimistic near-term guidance and the probability-weighted impact from the ongoing conflict between China and the U.S. After changes to our forecasts, w...
CHINA Results China Eastern Airlines (670 HK/HOLD/HK$5.79/Target: HK$5.70): 2018: Results in line with profit warning; but weak cash flow a concern. Guangzhou Automobile Group (2238 HK/SELL/HK$9.17/Target: HK$8.00): 2018: Net profit down 1.0% yoy, below estimates. Cut target price from HK$10.00 to HK$8.00. Downgrade from HOLD to SELL. Shandong Gold Mining (1787 HK/BUY/HK$18.70/Target: HK$23.97): 2018: Earnings miss on exchange loss; long-term growth intact. Sino Biopharmaceutical (1177 HK/BUY/HK...
Our fair value estimate for no-moat China Eastern is unchanged at HKD 4.25 (CNY 3.70) following fourth-quarter results because the impact of slower capacity expansion was offset by markedly stronger yield. While the carrier’s near-term capacity growth will be matched by strong demand for air travel, we do not see any more upside in yield over the next five years. We also believe the indefinite grounding of Boeing 737 MAX 8 planes will weigh on China Eastern’s capacity expansion in 20...
Our fair value estimate for no-moat China Eastern is unchanged at HKD 4.25 (CNY 3.70) following fourth-quarter results because the impact of slower capacity expansion was offset by markedly stronger yield. While the carrier’s near-term capacity growth will be matched by strong demand for air travel, we do not see any more upside in yield over the next five years. We also believe the indefinite grounding of Boeing 737 MAX 8 planes will weigh on China Eastern’s capacity expansion in 20...
Our fair value estimate for no-moat China Eastern is unchanged at HKD 4.25 (CNY 3.70) following fourth-quarter results because the impact of slower capacity expansion was offset by markedly stronger yield. While the carrier’s near-term capacity growth will be matched by strong demand for air travel, we do not see any more upside in yield over the next five years. We also believe the indefinite grounding of Boeing 737 MAX 8 planes will weigh on China Eastern’s capacity expansion in 20...
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