Korean Air's stock 'buy' opinion was maintained. The boom in the air freight market is expected to continue for the time being.
Hana Financial Investment maintained its target stock price for Korean Air at 35,000 won and investment opinion 'buy' on the 9th.
"It seems to take more time to recover international passenger demand, but air cargo remain strong," Hana Financial Investment said. "We recommend a buying strategy centered on Korean Air, which is maintaining an operating profit surplus due to the booming air cargo market.".
Demand for air cargo is expected to remain high for the time being, coupled with a shortage of container ships. "As demand for consumption recovers in each country, the increase in air transportation has been notable, but demand for air cargo has surged further due to a lack of supply of container ships and a surge in shipping fares," Hana Financial Investment said.
"The supply shortage of container ships is difficult to be resolved in a short period of time, and demand for air cargo is expected to be high for the time being.".
Air freight traffic at Incheon International Airport has been on the rise for 11 consecutive months since July last year. Incheon International Airport's air cargo shipments in May reached 282,000 tons, up 28.4 percent from May last year.
Reporter Lee Dong-hoon usinvestmentidea2020@gmail.com
