AirAsia (RM1.32; Buy; Price Target: RM1.95)
Positioned to ride the recovery
• AirAsia is well-positioned to capitalize on demand
recovery with its fleet expansion program
• Ability to fund new aircraft purchases and repay loans
no longer a major concern as operating cash flows
strengthen
• Upgrade to Buy with RM1.95 TP based on 9x CY11F
EPS.
by HWDBS