Under China’s 13th Five Year Plan, the government plans to have 260 airports by 2020, with key aviation hubs to serve over 90% of the population who live within a radius of 100km of each airport.
SINGAPORE (March 24): CIMB likes China Aviation Oil for its foothold in two of the world’s largest aviation markets, increasing contributions from associates and potential for M&As.
In a Thursday note, lead analyst Cezzane See says CAO’s position as sole imported jet fuel supplier in China makes it a proxy for the state’s growing outbound travel segment.
