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Shanghai, Thai, Malaysia airport stocks have strong potential: analysts

Tay Peck Gek

Tay Peck Gek

Published Mon, May 1, 2023 · 08:55 PM
    • Malaysia Airports Holdings operates Kuala Lumpur International Airport (pictured) in Malaysia. Analysts see the company's earnings improving, but note headwinds from higher costs.
    • Malaysia Airports Holdings operates Kuala Lumpur International Airport (pictured) in Malaysia. Analysts see the company's earnings improving, but note headwinds from higher costs. PHOTO: BT FILE

    AIRPORT operators in Shanghai, Thailand and Malaysia have seen modest gains this year. But analysts and market watchers said these companies may do better as Chinese tourist demand recovers.

    JPMorgan, for one, is bullish that an expected wave of mainland Chinese outbound tourists would bode well for Asia’s airports for the remainder of the year and in 2024.

    Earnings visibility for the Chinese airports is improving alongside cross-border travel, JPMorgan said in a client note, citing the 1.7 billion yuan (S$330 million) planned investment by Shanghai International Airport Company in duty-free operations in Shanghai and Beijing.

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