中信里昂:重申國泰航空(0293.HK)“優於大市”評級 目標價8.3港元
中信里昂發表研究報吿指,國泰航空(0293.HK)基於客運業務疲弱,預期將每月現金消耗由現時的約15億港元,到下半年減少至10億港元,截至5月底,公司可用的流動資金達42億美元。國泰亦料上半年淨虧損將“可觀但有收窄”亦符合該行預期,重申對其“優於大市”評級,並維持目標價8.3港元。
中信里昂表示,今年首5個月國泰客運業務按跌97%,但貨運業務則保持彈性,按年跌25%,而貨運收益率亦持續強勁,並料按年略有升幅;管理層預期,今年上半年虧損將較去年上半年的99億港元及去年下半年的117億港元有所收窄。
該行又指,國泰今年前景仍具挑戰,維持公司今年蝕157億港元的預測,估計客運業務最早於第四季才會顯著復甦,故料明年淨虧損可收窄至16億港元。

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