Airlines and Tech Earnings Will Reveal Extent of Asia's Reopening Boost
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The reopening theme has been playing out in Asia for a few quarters and investors may get a further glimpse of whether the exuberance can be justified from earnings of airlines and tech companies this week.
Singapore Airlines Ltd. and Qantas Airways Ltd. have been barometers for this trend, especially long-haul, international passenger and cargo traffic. Air freight yield is expected to reach about 10% above pre-pandemic levels by 2024 given greater freighter capacity mix, Citi analysts including Kaseedit Choonnawat and Lu Xu wrote in a note. They preferred carriers in North Asia over Asean as pent-up demand is yet to fully play out there.