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Is sentiment turning towards ComfortDelGro’s beaten-down shares?

The Edge Singapore
The Edge Singapore • 5 min read
Is sentiment turning towards ComfortDelGro’s beaten-down shares?
ComfortDelGro owns the Addison Lee premium transportation firm in UK, with its drivers deriving significant income from shuttling premium airline passengers / Photo: ComfortDelGro
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When fighting in the Middle East broke out between the US and Iran in February, investors far and wide were shaken by hitherto unappreciated vulnerabilities to their investments.

With missiles and drones arcing across the skies of the region from Feb 28 onwards, Emirates, with its home base at Dubai, was forced to cancel all flights in the initial days for obvious reasons. Limited flights have since been put back into service, although the number remains below usual frequency.

With 12 daily flights operated by Emirates from Dubai to the three London airports, the impact has been keenly felt. For years, private hire company Addison Lee has been providing pick-up services for business class passengers flying Emirates under a contract with the airline, which includes the chauffeur service as part of the airfare.

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