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China Aviation Oil ready for takeoff

Jude Chan
Jude Chan8/29/2016 12:10 PM GMT+08  • 2 min read
China Aviation Oil ready for takeoff
SINGAPORE (Aug 29): UOB Kay Hian is keeping China Aviation Oil (Singapore) Corp (CAO) on “buy” with an unchanged target price of $1.90, anticipating a “stellar” quarter ahead for the jet fuel supplier.
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SINGAPORE (Aug 29): UOB Kay Hian is keeping China Aviation Oil (Singapore) Corp (CAO) on “buy” with an unchanged target price of $1.90, anticipating a “stellar” quarter ahead for the jet fuel supplier.

“Industry numbers look positive with China’s 1H16 international flight passengers increasing 27% and 2H16 travel bookings growth,” says UOB analyst Edison Chen in a Monday report.

In 1H16, China's civil aviation industry’s total turnover volume increased 12.5% y-o-y to 45.59 billion tonne-km in 1H16, with numbers of passengers transported rising 10.8% y-o-y to 232.3 million, according to the Civil Aviation Administration of China (CAAC).

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