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FHZN - Flughafen Zuerich AG News Story

CHF157.4 -0.4  -0.3%

Last Trade - 14/04/21

Large Cap
Market Cap £3.80bn
Enterprise Value £4.85bn
Revenue £491.0m
Position in Universe 218th / 1045

BUZZ-European aviation: HSBC sees near-term gloom, takeoff from H2

Mon 18th January, 2021 8:31am
** HSBC expects the near-grounding of aircraft to continue
through Q1 amid new lockdowns, but eyes recovery in H2 and
beyond thanks to the vaccine roll-out
    ** Brokerage now expects Q1 to see maximum 10% of last
year's capacity, compared to its earlier 20% estimate
    ** "The new wave of COVID-19 infections across Europe and
the emergence of new variants of the virus mean that the outlook
for aviation in Q1 2021 has deteriorated," HSBC says
    ** However, the impact on FY should be less dramatic than
the current lockdown suggests if the anticipated reopening of
air travel materializes in H2, the broker adds
    ** It says the vaccine roll-out could help both
intra-European and North Atlantic markets to open for H2 and the
key summer season
    ** HSBC adds international testing and health protocols will
play a key role in shaping the market
    ** It cuts SAS  SAS.ST  to "hold" from "buy" and Aena
 AENA.MC  to "reduce" from "hold"; edges most target prices
    ** Its "buy" rated stocks include easyJet  EZJ.L , IAG
 ICAG.L , Ryanair  RYA.I  and Flughafen Zuerich  FHZN.S ;
"reduce" on Air France-KLM  AIRF.PA , Lufthansa  LHAG.DE  and
Aeroports de Paris  ADP.PA 

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