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Capital A will benefit most from MYAirline’s suspension: Maybank Investment Bank | Scoop
The airline industry continues to reverberate, following the sudden suspension of MyAirline yesterday, after less than a year of operations. – Abdul Razak Latif/Scoop pic, October 13, 2023
News

Capital A will benefit most from MYAirline’s suspension: Maybank Investment Bank

MAHB and AirAsia X are expected to be mildly negatively affected or not impacted at all, respectively

Bernama
Updated
12:53 PM MYT

 

KUALA LUMPUR – Malaysia Airports Holdings Bhd (MAHB) is expected to be mildly negatively impacted on fewer passengers and potential provision for doubtful debts, following the suspension of MYAirline Sdn Bhd’s (MYAirline) operations, according to Maybank Investment Bank (Maybank IB). 

In its research note today on Malaysia Aviation, it said AirAsia X Bhd (AAX) would not be impacted at all, while Capital A Bhd stands to benefit the most via higher fares. 

“Based on our earnings estimates, we are making ‘Buy’ calls on MAHB and AAX, and maintaining ‘Hold’ on Capital A.

“Yet, investors ought to look out for Capital A’s fourth quarter (4Q) 2023 results which may be boosted by high fares,” said Maybank IB. 

Its ‘positive’ call on Malaysian aviation remains unchanged. 

After less than a year of operations, MYAirline (not listed) on Oct 12, 2023 suspended its operations due to significant financial pressures and the suspension is pending shareholder restructuring and recapitalisation. 

MYAirline was operating nine Airbus A320s configured with 180 seats.

Its business model was very similar to Capital A’s in that it was operating as a low-cost carrier flying to domestic and Asean destinations. – October 13, 2023

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