THY's Istanbul Stock Exchange with stock admiral, versatile graphics drawing up off the last 2 years of positive months of 2019. So, what is waiting for THYAO stake in 2020.
Exchanges in the position of the preferred shares by volume in Istanbul, THY Close the optimistic 2019. Laughing face of investor shares in the last quarter.
So what are you waiting THYAO shares in 2020? Esra Şirinel from Investment in shares of TK-related analysis found that:
THY's new aircraft deliveries in 2020, 31 (12 net aircraft) because we foresee 9.5% increase in capacity will achieve. In 2020 Turkish Airlines aims to long-haul flights, such as the Far East and America.
In fact, the company recently signed a codeshare agreement with Malaysia Airlines. THY 2019 with a 4% increase in the total number of 78.08 million passengers in 2020, which we estimate as we expect to reach 78.15 million.
EXPECTATIONS FOR 2020
In 2020, with the increase in the number of long-distance flights in rask' We anticipate 2% decline on an annual basis. THY's estimated consolidated sales revenue in 2019 from 13.2 billion US dollars with a growth of 8% we estimate will reach 14.3 billion US dollars in 2020. THY management cost reduction of 3.3% decline in 2020, in line with the objectives envisaged cask' (greater than 2% decline in rask') we expect to see 1.6 percentage point improvement in the EBITDA margin origin.
4Ç19 Airlines for US $ 100 million cost savings target of the director, and we would like to remind that the target will continue in 2020. ii) the decrease in the taxi while the opening in a new airport 3 runways, the increase in long-haul flights and fuel reduction i in the derived fuel consumption related to the efficient air delivery) used iii of the staff of more delivery of new airplanes) potential at the airport fee discount / fall 2020 on cask fall our forecasts are the most prominent reasons. In 2020, we think it would be quite demanding discounts from all partners in the management of TK. As a result, in 2020, THY's annual basis in US dollars, we calculate he can get 20% increase in EBITDA and EBITDAR some 18%.
THYAO TARGET PRICE ...
We reiterate our BUY recommendation for the stock with 18.70TL THYAO Our target price. 2020 Istanbul that create operational disadvantages downside risks that arise early winter to pass the new airport, the Boeing max we believe that our estimate is able to take the flight permit before the end of 2020 and to pose risks up to shares of no further decrease our expectation that the company costs.
WHAT'S IMPORTANT RISKS TO SHARE?
airline travel demand to the negative external developments, such as ethyl terrorist attacks, lower unit revenues than expected are significant risks for the stock will be less than expected passenger traffic and an increase in oil prices. (Borsamatik)
