Inventory Dimension – AAV The budget rises to receive the influx of Chinese tourists to Thailand. Expect fourth-quarter profits to grow significantly
The revenue trend in Q3 2023 is expected to continue to recover year-on-year following the recovery of Thai and foreign tourists, and Q4 2066 will see the most outstanding growth, LH Securities’ AAV reported. Of the Thai tourist season in addition to visa exemption procedures for Chinese tourists. It is expected to greatly help in increasing the number of passengers from China. We recommend buying with a target price of 3.50 baht.
Open arms to welcome Chinese tourists
Pay the budgetQ4The most outstanding growth
Yuanta Securities reported that the government’s policy to stimulate the tourism sector is positive for AAV. Especially the Chinese market because the proportion of Chinese passengers on AAV is 35% of Chinese tourists entering Thailand. Meanwhile, Capacity Seat’s market share currently accounts for about 30% of Chinese AAV flights, which is higher than 11% in 2019.
Brokers expect to make profits of 847 million baht this year.
While the AAV stock price corresponds to 5 consecutive years of poor performance due to intense competition. High oil costs and Covid-19, but given the performance of AAV entering the transformation period, normal profit this year is expected to reach 847 million baht and in 2024 it will reach 1.6 billion baht, an increase of 90%. We recommend buying at a favorable price at the end of 2024 at 3.50 baht.
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