Singapore Stock Market News
SATS - TFK signs on Delta Air
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Publish date: Thu, 25 Jun 2015, 09:26 AM
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■ Subsidiary TFK signs on Delta Air for JPY30b/SGD325m. Delta to close own kitchen in Narita.
■ Much needed revenue boost for TFK. Expect it to turn profitable from FY16E. Raise EPS by 1.8-2.5%.
■ Lift TP to SGD3.21 from SGD3.15, still at 16x FY16E EPS. Maintain HOLD pending stronger air traffic trends.
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