Singapore, Malaysia aviation sectors near recovery to pre-Covid levels: UOBKH
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WITH Singapore and Malaysia fully reopening their international borders from Apr 1, UOB Kay Hian (UOBKH) is anticipating their aviation sectors to chart a strong recovery in passenger volumes and earnings during the coming years. Both countries' aviation sectors have been maintained at "market weight".
UOBKH projects Malaysia's passenger traffic volumes to regain 53 per cent and 93 per cent of pre-pandemic levels in 2022 and 2023, respectively. This comes on the premise of pent-up travel demand, the progression of the Covid-19 situation towards an endemic status and smoother cross-border flows within the Asean region.
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