摩根士丹利发布研究报告称,予国泰航空(00293)9.1港元目标价以及“与大市同步”评级。公司过去两个月的乘客运载率(PLF)同比提升,值得鼓舞,这会让乘客利润好于预期。
大摩认为,节假日高峰期间旅行需求强势。收入乘客千米数(RPK)同比增27.9%,达2018年的76.5%水平,可用坐位公里(ASK)同比增22.5%,至2018年时的75.6%水平。乘客运载率(PLF)为84.8%,同比增3.6个百分点,比2018年时高1个百分点。管理层注意到,商务旅行带来的豪华舱位需求令人鼓舞。
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