Kenanga Research expects business and leisure air travel to continue to recover throughout the year with activity poised to return to pre-pandemic levels in 2024. expects better future quarterly earnings as its partner airlines rebuild their fleet, according to Maybank Investment Bank Research.
According to Maybank IB, its FY23 earnings forecast is based on Malaysian passenger traffic recovering to 77% of FY19 levels, while FY24 earnings forecast is based on Malaysian passenger traffic recovering to 92% of FY19 levels. Kenanga Research expects business and leisure air travel to continue to recover throughout the year with activity poised to return to pre-pandemic levels in 2024.
Among the key takeaways following a briefing with analysts, Kenanga Research said the group reiterated that passenger’s throughput recovery is gaining traction in both Malaysia and Türkiye. The airport operators also believes its international sector has much more to gain from China’s reopening.