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Wednesday, June 22, 2011

Airasia - May FY11 Stats: More Good News (OSK)

May operating stats finished strong as RPK jumped 20.8% y-o-y and load factor stayed consistent at 80%, which reinforces our preference for AirAsia, one of OSK’s top stock picks for 2H2011. News flow on the company is also positive, with good news in the form of its aviation academy JV with CAE and lower personnel training cost. Media speculation of the possibility of AirAsia X securing routes long kept exclusive will be a RPK booster across its regional hubs. Maintain BUY with the stock’s FV unchanged at RM3.89.

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