KUALA LUMPUR, Aug 26 — Research houses have maintained their ‘Buy’ call on Malaysia Airports Holdings Bhd , leveraging the recovery of air travel as countries relax their border restrictions while airlines are reinstating their capacities to pre-pandemic levels.
“Based on planned airline capacity, domestic capacity will continue to improve to 75 per cent of pre-pandemic level from the current 68.4 per cent, while international capacity will improve to over 60 per cent from the current 41.4 per cent,” it said in a note today.MIDF Research said in a note that it has made some adjustments to its passenger movement forecast as the key catalyst would be Northeast Asian countries fully lifting their travel restrictions.
Meanwhile, CGS-CIMB reiterated its ‘hold’ call on the airport operator and reduced its TP to RM6.60 from RM6.76 as it tapers down its assumptions on the speed at which MAHB’s Malaysian operations can restore its full commercial rental collections, particularly for 2022 to 2023.