Capital A Bhd’s (Capital A) 3QFY24 operating statistics show that the international segment continued to experienced robust demand, with passenger growth outpacing capacity growth. Passenger volume for the consolidated aircraft operating certificate (AOC) operations (Malaysia, Indonesia, Philippines, Thailand and Cambodia) increased by 1.3% QoQ to 15.8m. Passenger load factor (PLF) for AOC remained at a remarkable level of 89%, marginally lower by 1.0 percentage point (ppt) QoQ, due to a 2.6% QoQ increase in capacity. During the quarter, the Group added 3 new A321neo aircraft and reactivated 3 additional aircraft, bringing its total activated fleet to 202 out of 216. With this, we believe the Group is well position to capitalise on the growing travel demand across the region. We maintain our earnings estimates and Outperform call on Capital A, with target price of RM1.57 unchanged. Capital A is schedule to release its 3QFY24 results and passenger yield data on 28th Nov 2024.
Source: PublicInvest Research - 25 Oct 2024
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