SINGAPORE (July 20): Analysts say an improved outlook for SATS on various levels outweigh any potential impact from the termination of its agreement with Turkish Airlines for the provision of in-flight catering services to airlines at the Istanbul New Airport.
“Following cessation of discussions with Turkish Airlines over the development of a flight kitchen in Turkey, we now raise our DPS going forward by 1 cent and 2 cents for FY19F and FY20F respectively,” says DBS Group Research’s lead analyst Alfie Yeo in a Friday report.
“We have not factored in development of Turkey into our [target price] and earnings and are hence neutral on the termination of the MOU,” he adds.
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