KUALA LUMPUR: Public Invest Research does not anticipate a strong quarter-on-quarter performance for AirAsia X Bhd
in Q2’18 as yield may be under pressure due to seasonality and a decline in international air travel from Malaysia during the GE13 period.
The research house said on Friday that the preliminary operating statistics released by the group yesterday were slightly below its expectations.
The group’s traffic volume declined 5% on-quarter, exceeding the decline in available-seats-km (ASK) of 1.8%.
Nevertheless, its passenger load was slightly higher, improved by 1ppt to 81.6%, compared to 80.5% a year ago.
The research house maintained its Trading Buy call on the group with an unchanged target price of RM0.44 based on 8x FY19 earnings per share.
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