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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Airbus SE    AIR   NL0000235190

AIRBUS SE

(AIR)
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AirAsia transfers some Kuala Lumpur-Singapore slots to long-haul service

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11/11/2019 | 01:50am EST
People queue at an AirAsia counter at Changi Airport in Singapore

Malaysian budget carrier AirAsia Group Bhd said on Monday it would transfer two slots on its Kuala Lumpur-Singapore route, its most profitable, to long-haul sister airline AirAsia X Bhd, which has been struggling financially.

The two daily return flights will help AirAsia X deploy its Airbus SE A330s for more hours of the day, allowing it to boost revenue, the carriers said. The services will also give passengers from China, India, Japan and Korea better connections from its Kuala Lumpur hub to Singapore.

Using the widebodies rather than AirAsia's narrowbody Airbus A320s also doubles capacity in those slots on the Kuala Lumpur-Singapore route, the world's busiest international route by frequency of services, according to aviation data provider OAG.

AirAsia and AirAsia X said they would share the operating profits from the slots on a 50-50 basis, with 2.42 million ringgit ($584,823.59) expected in the first year taking into account operational costs. The low-cost carrier will continue to operate several other daily flights on the route using its A320s.

The deal comes after AirAsia rivals Malaysia Airlines and Singapore Airlines Ltd signed an expanded codeshare agreement.

AirAsia X in August posted a 207.6 million ringgit loss for the quarter ended June 30, its largest since 2015, due to aircraft disposals and a weak ringgit.

AirAsia X shares are down nearly 30% year-to-date, compared with a 5.5% fall at AirAsia and a 1.5% decline at Singapore Airlines.

AirAsia X also in August confirmed an order for 12 more A330neos and said it would order 30 of the smaller, long-range A321XLRs to help it open longer niche routes without the need to fill a widebody.

($1 = 4.1380 ringgit)

(Reporting by Jamie Freed; Editing by Sam Holmes)

Stocks mentioned in the article
ChangeLast1st jan.
AIRASIA GROUP BHD End-of-day quote.
AIRASIA X BHD End-of-day quote.
AIRBUS SE -3.37% 134.26 Real-time Quote.6.53%
HUB CO., LTD. -1.58% 1062 End-of-day quote.1.63%
SINGAPORE AIRLINES LIMITED -0.34% 8.82 End-of-day quote.-3.08%
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Financials (EUR)
Sales 2019 70 199 M
EBIT 2019 6 661 M
Net income 2019 4 389 M
Finance 2019 14 018 M
Yield 2019 1,50%
P/E ratio 2019 24,7x
P/E ratio 2020 20,1x
EV / Sales2019 1,35x
EV / Sales2020 1,24x
Capitalization 109 B
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Mean consensus BUY
Number of Analysts 24
Average target price 149,96  €
Last Close Price 139,00  €
Spread / Highest target 28,1%
Spread / Average Target 7,89%
Spread / Lowest Target -13,7%
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Managers
NameTitle
Guillaume Faury Chief Executive Officer
Denis Ranque Non-Executive Chairman
Michael Schöllhorn Chief Operating Officer
Dominik Asam Chief Financial Officer
Luc Hennekens Chief Information Officer
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