Thursday, September 22, 2011

OSK Research maintains Buy on AirAsia

KUALA LUMPUR: OSK Research is maintaining its Buy call on AIRASIA BHD [] at RM3.16 and has a fair value of RM5.18.

It said on Thursday, Sept 22 that AirAsia and its Indonesia associates (IAA) saw its load factor notching downwards by 8.0 percentage points and 13.5 percentage points on-month on low demand for air travel during the fasting Ramadhan period.

'Considering now that its year-to-date August figures already constitutes 63.4% of our full year forecast (versus 62.1% in the previous year), we consider the stats recorded thus far to be in line our full year estimates.

'We reiterate our BUY call with an unchanged FV of RM5.18 premised on 12 times rolling months,' it said.

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