Jasiwal said strong control on the COVID-19 cases in the country, rapid expansion of domestic capacity by Chinese airlines, and aggressive price promotions have boosted demand for domestic aviation in China.
RHB Research has upgraded China Aviation Oil to “buy” from “neutral” with a target price of $1.05, up from 95 cents previously.
Analyst Shekar Jasiwal said this is amidst continuing improvement in China’s aviation traffic, as well as expectations of y-o-y growth in domestic passenger volume and aircraft movements in the upcoming Golden Week holidays.
