[ET Net News Agency, 17 April 2020] Daiwa Research raised its target price for BOC
Aviation (BOCA)(02588) to HK$82 from HK$81 and maintained its "buy" rating.
With bailout plans for Norwegian Air Shuttle being announced and payment deferral plans
being offered, the research house sees downside risk for BOCA as limited.
BOCA plans to offer deferrals to only those clients that are unable to obtain government
support, and for up to 50% of the lease payment, and for no longer than three months. BOCA
would charge a 6-12% pa interest rate on the deferred payment.
Assuming operating cash flow of US$2bn throughout 2020 and 50% of its clients are
eligible for deferral of half of the lease payments in 2Q, Daiwa expects the net OCF
(operating cash flow) impact to be US$120m (6%), with no P&L impact. (KL)
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02588 BOC AVIATION
Nominal 
62.900 -1.150 (-1.795%) Research Report
17/04/2020 10:00
{I-bank focus}Daiwa raises BOC Aviation (02588) to HK$82
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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