Global Mobility/Transport, Equity Long-Short

Mohshin Aziz

Capital market veteran with 22 years experience with stints as an analyst (sell-side & buyside), investor relations and fund manager. 

My key expertise in the aviation sector. My definition of "aviation" includes airlines, travel tours, airports, airport retail & services, OEMs, online travel agents, aircraft lessors, air cargo/logistics, etc.   

I have an active watchlist consisting 190 companies across 41 countries. The aviation sector is highly cyclical and I am constantly evaluating signals to uncover attractive trade opportunities.

Travelsky (696 HK): Big Jan and Feb so Far

Travelsky (696 HK | HOLD | TP:HKD9.92): Domestic Travel Will Support Growth

Equity Bottom-Up

Travelsky Technology Ltd H / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/travelsky-technology-ltd-h" target="_blank" data-smartkarma-citation="entities:19829:1" rel="noopener">Travelsky Technology Ltd H (696 HK)</a> (TravelSky) issued its 2023 operating statistics and a profit warning that is far below market expectations, the share price has plunged by 36% </li>
<li>Our analysis suggests that staff cost, commission, and systems costs have soared. This will be contained when traffic accelerates and absorbs these fixed cost items </li>
<li>Our target price of HKD9.92 <strong>(+21% UPSIDE)</strong> is based on 2024 PE 14.8x (1SD below mean). Keep an eye, worthwhile trade, due for a bounce    </li>
</ul>



Travelsky Technology Ltd H (696 HK) (TravelSky) issued its 2023 operating statistics and a profit warning that is far below market expectations, the share price has plunged by 36% 
Our analysis suggests that staff cost, commission, and systems costs have soared. This will be contained when traffic accelerates and absorbs these fixed cost items 
Our target price of HKD9.92 (+21% UPSIDE) is based on 2024 PE 14.8x (1SD below mean). Keep an eye, worthwhile trade, due for a bounce    


Travelsky (696 HK | BUY | TP:HKD9.92): Forget 2023, Think of 2024-25 Which Will Be Much Better