[Dow Jones] STOCK CALL: Credit Suisse keeps Outperform on AirAsia (5099.KU) with unchanged target price of MYR1.80 after low cost carrier secures more landing rights into neighboring Singapore. Says frequency of flights will increase 151% with 6 more airports now being opened up to Singapore. Notes AirAsia already operates 203 wekly flights out of Singapore. "Singapore authorities expect tourist arrivals's CAGR of 11% during 2009-15. As the largest low cost carrier (LLC) in the republic, AirAsia is in a good position to tap into the expected surge in tourist arrivals while a recent recapitalization and aircraft deferrals has placed the airline is on a firmer footing for growth," broker says. Shares flat at MYR1.36.
Dow Jones Newswires
October 20, 2009 23:50 ET (03:50 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc.
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