Stock Name: MAS
Company Name: MALAYSIAN AIRLINE SYSTEM BHD
Yields, fuel and slow motivation. 4Q11 is expected to be severely loss-making due to the impact of a 38% higher fuel price YoY and a weak yield environment. We have been monitoring MAS' fares and notice that it is lower than those of competitors by a wide margin. We maintain our Hold call with a target price of RM1.55, pegged to 6.6x 2012 adjusted EV/EBITDAR - on par with Asia Pacific airline peers.
Maybank Research 10 Feb 2012
Click here for full report
Company Name: MALAYSIAN AIRLINE SYSTEM BHD
| Research House: MAYBANK | Price Call: HOLD | Target Price: 1.55 |
Yields, fuel and slow motivation. 4Q11 is expected to be severely loss-making due to the impact of a 38% higher fuel price YoY and a weak yield environment. We have been monitoring MAS' fares and notice that it is lower than those of competitors by a wide margin. We maintain our Hold call with a target price of RM1.55, pegged to 6.6x 2012 adjusted EV/EBITDAR - on par with Asia Pacific airline peers.
Maybank Research 10 Feb 2012
Click here for full report
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