According to Liu and Chew in their Sept 15 note, MRO upcycles are driven by first growing travel, ageing fleets, and delayed aircraft deliveries.
Liu Miaomiao and Paul Chew of PhillipCapital have initiated coverage on SIA Engineering with a "buy" call and $3.83 price target, on expectations that it is a "key beneficiary" of surging demand for so-called maintenance, repair and overhaul (MRO) services.
SIA Engineering Company (SIE) is 77% held by Singapore Airlines, and serves over 80 international carriers and aerospace manufacturers with a worldwide network of 25 subsidiaries and joint ventures across nine countries.
